Global Report: Lessons Learnt from Piloting Macroeconomic Modelling for Climate Resilience

Climate change poses a major challenge to long-term economic development. The global programme “Policy Advice for Climate Resilient Economic Development” (CRED) supports long-term economic planning that considers the costs of climate change and the benefits of mitigation and adaptation.

The project has been implemented in Georgia, Kazakhstan and Vietnam that are highly affected by climate change. In close collaboration with national political partners, CRED supports the countries in developing climate resilient development plans and economic development strategies. It developed a framework (CRED approach) that helps to understand and mitigate the economic and social risks due to climate change.

This Global Report evaluates the effectiveness of using climate-sensitive macroeconomic modeling in achieving climate resilience. It examines how the CRED approach, which utilizes existing knowledge in each country and focuses on capacity building, has been implemented in these pilot countries. The report emphasizes the use of the model-based process for adaptation planning and evidence-based policymaking.