Adapting economic development to climate change
Title: Policy Advice for Climate-Resilient Economic Development (CRED)
Commissioned by: German Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV)
Country: Global, Kazakhstan, Georgia, Viet Nam (until 03/2023)
Lead executing agency: Kazakhstan: Ministry of National Economy (MNE); Georgia: Ministry of Economy and Sustainable Development (MoESD); Viet Nam: Ministry of Planning and Investment (MPI)
Overall term: 2019 to 2025
Climate change has a huge impact on the economic growth and development of countries. There is therefore a need for methods for assessing the economic impact of climate risks and developing potential adaptation scenarios.
Up to now, there has been a lack of experience both worldwide and in the programme’s partner countries (Kazakhstan, Viet Nam and Georgia) with regard to integrating climate risks into macroeconomic forecasts. Climate data and results from sector models need to be fed into macroeconomic models to map the impacts of climate change on social and economic aspects such as income and employment and to identify appropriate adaptation actions.