Planning And Mainstreaming Adaptation To Climate Change In Fiscal Policy

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Planning and Mainstreaming Adaptation to Climate Change in Fiscal Policy

Emanuele Massetti,Mr. Matthieu Bellon
Planning and Mainstreaming Adaptation to Climate Change in Fiscal Policy Book PDF

Author : Emanuele Massetti,Mr. Matthieu Bellon
Publisher : International Monetary Fund
Page : 28 pages
File Size : 47,5 Mb
Release : 2022-03-23
Category : Business & Economics
ISBN : 9798400201950

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Planning and Mainstreaming Adaptation to Climate Change in Fiscal Policy by Emanuele Massetti,Mr. Matthieu Bellon Pdf

This Staff Climate Note is part of a series of three Notes (IMF Staff Climate Note 2022/001, 2022/002, and 2022/003) that discuss fiscal policies for climate change adaptation. A first Note (Bellon and Massetti 2022, henceforth Note 1) examines the economic principles that can guide the integration of climate change adaptation into fiscal policy. It argues that climate change adaptation should be part of a holistic, sustainable, and equitable development strategy. To maximize the impact of scarce resources, governments need to prioritize among all development programs, including but not limited to adaptation. To this end, they can use cost-benefit analysis while ensuring that the decision-making process reflects society’s preferences about equity and uncertainty. A second Note (Aligishiev, Bellon, and Massetti. 2022, henceforth Note 2) discusses the macro-fiscal implications of climate change adaptation. It reviews evidence on the effectiveness of adaptation at reducing climate change damages, on residual risks, and on adaptation investment needs, and suggests ways to integrate climate risks and adaptation costs into national macro-fiscal frameworks with the goal of guiding fiscal policy. It stresses that lower-income vulnerable countries, which have typically not contributed much to climate change, face exacerbated challenges that warrant increased international support. This third Note considers how to translate adaptation principles and estimates of climate impacts into effective policies.

Macro-Fiscal Implications of Adaptation to Climate Change

Mr. Zamid Aligishiev,Emanuele Massetti,Mr. Matthieu Bellon
Macro Fiscal Implications of Adaptation to Climate Change Book PDF

Author : Mr. Zamid Aligishiev,Emanuele Massetti,Mr. Matthieu Bellon
Publisher : International Monetary Fund
Page : 46 pages
File Size : 55,6 Mb
Release : 2022-03-23
Category : Business & Economics
ISBN : 9798400201608

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Macro-Fiscal Implications of Adaptation to Climate Change by Mr. Zamid Aligishiev,Emanuele Massetti,Mr. Matthieu Bellon Pdf

Adaptation to climate change is an integral part of sustainable development and a necessity for advanced and developing economies alike. How can adaptation be planned for and mainstreamed into fiscal policy? Setting up inclusive coordination mechanisms and strengthening legal foundations to incorporate climate change can be a prerequisite. This Note identifies four building blocks: 1. Taking stock of present and future climate risks, identifying knowledge and capacity gaps, and establishing guidance for next steps. 2. Developing adaptation solutions. This block can be guided by extending the IMF three-pillar disaster resilience strategy to address changes in both extreme and average weather and would cover the prevention of risks, the alleviation of residual risks, and macro-fiscal resilience. 3. Mainstreaming these solutions into government operations. This requires strengthening public financial management institutions by factoring climate risks and adaptation plans into budgets and macro-frameworks, and in the management of public investment, assets and liabilities. 4. Providing for transparent evaluations to inform future plans. This involves continually monitoring progress and regularly updating adaptation plans.

Fiscal Policies to Address Climate Change in Asia and the Pacific

Ms.Era Dabla-Norris,Mr.James Daniel,Mr.Masahiro Nozaki,Cristian Alonso,Vybhavi Balasundharam,Mr.Matthieu Bellon,Chuling Chen,David Corvino,Mr.Joey Kilpatrick
Fiscal Policies to Address Climate Change in Asia and the Pacific Book PDF

Author : Ms.Era Dabla-Norris,Mr.James Daniel,Mr.Masahiro Nozaki,Cristian Alonso,Vybhavi Balasundharam,Mr.Matthieu Bellon,Chuling Chen,David Corvino,Mr.Joey Kilpatrick
Publisher : International Monetary Fund
Page : 125 pages
File Size : 55,7 Mb
Release : 2021-03-24
Category : Business & Economics
ISBN : 9781513561394

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Fiscal Policies to Address Climate Change in Asia and the Pacific by Ms.Era Dabla-Norris,Mr.James Daniel,Mr.Masahiro Nozaki,Cristian Alonso,Vybhavi Balasundharam,Mr.Matthieu Bellon,Chuling Chen,David Corvino,Mr.Joey Kilpatrick Pdf

Climate change is one of the greatest challenges facing policymakers worldwide, and the stakes are particularly high for Asia and the Pacific. This paper analyzes how fiscal policy can address challenges from climate change in Asia and the Pacific. It aims to answer how policymakers can best promote mitigation, adaptation, and the transition to a low-carbon economy, emphasizing the economic and social implications of reforms, potential policy trade-offs, and country circumstances. The recommendations are grounded in quantitative analysis using country-specific estimates, and granular household, industry, and firm-level data.

Integrating Climate Change Adaptation into Development Co-operation: Policy Guidance

OECD
Integrating Climate Change Adaptation into Development Co operation Policy Guidance Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 200 pages
File Size : 43,9 Mb
Release : 2009-08-24
Category : Electronic
ISBN : 9264054766

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Integrating Climate Change Adaptation into Development Co-operation: Policy Guidance by OECD Pdf

This book provides essential information and advice on how to facilitate the integration of climate change adaptation into development processes.

Adaptation Policy Frameworks for Climate Change

Ian Burton,Elizabeth Malone,Saleemul Huq
Adaptation Policy Frameworks for Climate Change Book PDF

Author : Ian Burton,Elizabeth Malone,Saleemul Huq
Publisher : Cambridge University Press
Page : 268 pages
File Size : 53,7 Mb
Release : 2004-11-15
Category : Science
ISBN : 052161760X

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Adaptation Policy Frameworks for Climate Change by Ian Burton,Elizabeth Malone,Saleemul Huq Pdf

Adaptation is a process by which individuals, communities and countries seek to cope with the consequences of climate change. The process of adaptation is not new; the idea of incorporating future climate risk into policy-making is. While our understanding of climate change and its potential impacts has become clearer, the availability of practical guidance on adaptation has not kept pace. The development of the Adaptation Policy Framework (APF) is intended to help provide the rapidly evolving process of adaptation policy-making with a much-needed roadmap. Ultimately, the purpose of the APF is to support adaptation processes to protect - and enhance - human well-being in the face of climate change. This volume will be invaluable for everyone working on climate change adaptation and policy-making.

Climate-Sensitive Management of Public Finances—"Green PFM”

Mr. Fabien Gonguet,Mr. Claude P Wendling,Ozlem Aydin Sakrak,Bryn Battersby
Climate Sensitive Management of Public Finances Green PFM Book PDF

Author : Mr. Fabien Gonguet,Mr. Claude P Wendling,Ozlem Aydin Sakrak,Bryn Battersby
Publisher : International Monetary Fund
Page : 21 pages
File Size : 43,9 Mb
Release : 2021-08-11
Category : Business & Economics
ISBN : 9781513583044

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Climate-Sensitive Management of Public Finances—"Green PFM” by Mr. Fabien Gonguet,Mr. Claude P Wendling,Ozlem Aydin Sakrak,Bryn Battersby Pdf

Public financial management (PFM) consists of all the government’s institutional arrangements in place to facilitate the implementation of fiscal policies. In response to the growing urgency to fight climate change, “green PFM” aims at adapting existing PFM practices to support climate-sensitive policies. With the cross-cutting nature of climate change and wider environmental concerns, green PFM can be a key enabler of an integrated government strategy to combat climate change. This note outlines a framework for green PFM, emphasizing the need for an approach combining various entry points within, across, and beyond the budget cycle. This includes components such as fiscal transparency and external oversight, and coordination with state-owned enterprises and subnational governments. The note also identifies principles for effective implementation of a green PFM strategy, among which the need for a strong stewardship located within the ministry of finance is paramount.

Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy

Mr. Matthieu Bellon,Emanuele Massetti
Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy Book PDF

Author : Mr. Matthieu Bellon,Emanuele Massetti
Publisher : International Monetary Fund
Page : 34 pages
File Size : 55,5 Mb
Release : 2022-03-23
Category : Business & Economics
ISBN : 9781513592374

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Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy by Mr. Matthieu Bellon,Emanuele Massetti Pdf

Adaptation to climate change is a necessity for advanced and developing economies alike. Policymakers face the challenge of facilitating this transition. This Note argues that adaptation to climate change should be part of a holistic development strategy involving both private and public sector responses. Governments can prioritize public investment in adaptation programs with positive externalities, address market imperfections and policies that make private adaptation inefficient, and mobilize revenues for, and distribute the benefits of, adaptation. Although the choice of what should be done and at what cost ultimately depends on each society’s preferences, economic theory provides a useful framework to maximize the impact of public spending. Cost-benefit analysis, complemented by the analysis of distributional effects, can be used to prioritize adaptation programs as well as all other development programs to promote an efficient and just transition to a changed climate. While compensations may be needed to offset damages that are either impossible or too expensive to abate, subsidies for adaptation require careful calibration to prevent excessive risk taking.

Climate Resilient Fiscal Planning

Asian Development Bank
Climate Resilient Fiscal Planning Book PDF

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 149 pages
File Size : 55,8 Mb
Release : 2023-11-01
Category : Business & Economics
ISBN : 9789292704766

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Climate Resilient Fiscal Planning by Asian Development Bank Pdf

This report shows how adopting good practices around climate-resilient fiscal planning can help decision-makers in Asia and the Pacific ramp up public and private resources to plug the yawning adaptation financing gap. Outlining a three-step framework, the report explains the need to effectively assess the rising impacts of climate change, develop a fiscal risk management strategy, and optimize available resources. It underscores why coherent action hinges on a solid understanding of the impacts of climate change and how central finance agencies can better integrate climate risk into decision-making to lead the drive towards economic resilience.

Mainstreaming Poverty-environment Linkages Into Development Planning

Sophie de Coninck
Mainstreaming Poverty environment Linkages Into Development Planning Book PDF

Author : Sophie de Coninck
Publisher : UNEP/Earthprint
Page : 132 pages
File Size : 47,8 Mb
Release : 2009
Category : Business & Economics
ISBN : 9280729624

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Mainstreaming Poverty-environment Linkages Into Development Planning by Sophie de Coninck Pdf

Natural resources such as forests and fisheries play a larger role in the national income and wealth of less developed economies. This handbook is designed to serve as a guide for champions and practitioners engaged in the task of mainstreaming poverty-environment linkages into national development planning. The handbook draws on a substantial body of experience at the country level and the many lessons learned by the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP) in working with governments — especially ministries of planning, finance and environment — to support efforts to integrate the complex interrelationships between poverty reduction and improved environmental management into national planning and decision-making

Enabling pathways for drought finance in agriculture

Food and Agriculture Organization of the United Nations
Enabling pathways for drought finance in agriculture Book PDF

Author : Food and Agriculture Organization of the United Nations
Publisher : Food & Agriculture Org.
Page : 96 pages
File Size : 49,9 Mb
Release : 2023-08-30
Category : Social Science
ISBN : 9789251380994

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Enabling pathways for drought finance in agriculture by Food and Agriculture Organization of the United Nations Pdf

Although risk-based approaches to disaster management are particularly effective, the rapid start-up of risk financing is hardly conceivable in the case of a drought that has been grossly underfinanced. Even if existing resources are spent more effectively, the gap far exceeds the active finance flows. Creating an enabling environment for the financial sector is the first step to intensifying investments, and it must be done by aligning the interest of the involved actors, including public and private stakeholders, the development and scientific community, and the impacted sectors. This report provides an in-depth analysis of the structural particularities and the status of drought finance. It lines up pathways to stimulate the financial environment by proposing innovative strategies, in other words, enabling pathways. It responds to the pressing concern of what innovative instruments and strategies should be used to make drought finance attractive for all sectors. The goal is to roll out larger-scale programmes to enable drought financing to yield a good return, thus supporting the efforts of the global community to build drought resilience through increased finance flows.By providing pragmatic steps towards the acceleration of drought finance, the publication contributes to several Sustainable Development Goals (SDGs), including SDGs 1, 2, 5, 6, 13, 15 and 17. It is in line with the objectives of the FAO Strategic Framework, namely, it addresses the objective of the Better Production to ensure “resilient and sustainable agrifood systems”, and the objective of the Better Life to promote “inclusive economic growth by reducing inequalities”.

Republic of Palau

International Monetary Fund. Asia and Pacific Dept
Republic of Palau Book PDF

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 31 pages
File Size : 50,8 Mb
Release : 2023-12-21
Category : Business & Economics
ISBN : 9798400261022

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Republic of Palau by International Monetary Fund. Asia and Pacific Dept Pdf

Republic of Palau: Selected Issues

Regional Economic Outlook: Sub-Saharan Africa

International Monetary,International Monetary Fund. African Dept.
Regional Economic Outlook Sub Saharan Africa Book PDF

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 25 pages
File Size : 44,5 Mb
Release : 2022-10-14
Category : Business & Economics
ISBN : 9798400221910

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Regional Economic Outlook: Sub-Saharan Africa by International Monetary,International Monetary Fund. African Dept. Pdf

Sub-Saharan Africa’s recovery has been abruptly interrupted. Last year, activity finally bounced back, lifting GDP growth in 2021 to 4.7 percent. But growth in 2022 is expected to slow sharply by more than 1 percentage point to 3.6 percent, as a worldwide slowdown, tighter global financial conditions, and a dramatic pickup in global inflation spill into a region already wearied by an ongoing series of shocks. Rising food and energy prices are impacting the region’s most vulnerable, and public debt and inflation are at levels not seen in decades. Against this backdrop, and with limited options, many countries find themselves pushed closer to the edge. The near-term outlook is extremely uncertain as the region’s prospects are tied to developments in the global economy and with a number of countries facing difficult sociopolitical and security situations at home. Within this challenging environment, policymakers must confront immediate socioeconomic crises as they arise, while also endeavoring to reduce vulnerabilities to future shocks, building resilience. Ultimately, however, the region’s safety and prosperity will require high-quality growth and the implementation of policies that will set the stage for a sustainable recovery, helping countries move away from the edge.

Sustainability: Business And Investment Implications

Diane-charlotte Simon,Alexander S Preker,Susan C Hulton
Sustainability Business And Investment Implications Book PDF

Author : Diane-charlotte Simon,Alexander S Preker,Susan C Hulton
Publisher : World Scientific
Page : 648 pages
File Size : 45,8 Mb
Release : 2023-09-27
Category : Business & Economics
ISBN : 9789811240935

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Sustainability: Business And Investment Implications by Diane-charlotte Simon,Alexander S Preker,Susan C Hulton Pdf

This book explores the business and investment implications of sustainability, both opportunities and challenges. The volume lays the groundwork for understanding the growing areas of sustainable business and sustainable finance. Over the past few decades, the world has witnessed significant improvements in economic development that meet a wide range of human needs. Ensuring that such development takes place in a 'sustainable' way is the central focus of the book. The book provides insights for businesses, investors, and others on how to navigate this complex and evolving landscape.The United Nations and global leaders in business and investment have emphasized the important role that the private sector can play in protecting the environment and promoting a more sustainable use of resources.'What is needed now is a new era of economic growth — growth that is at the same time socially and environmentally sustainable. This call for action in the Forward to the 1987 Bruntland Report (Our Common Future), which emphasizes that economic growth is part of the solution not the problem, still rings true nearly 40 years later.Gro Harlem BrundtlandReport of the World Commission on Environment and Development, United Nations 1987'Private sector leadership is vital to advance sustainable development and fight the existential threats of climate change, biodiversity loss and pollution.'António GuterresUnited Nations Secretary-GeneralMessage to International Chamber of Commerce's 13th World Chambers CongressUnited Nations Press Release on the Environment, June 21, 2023 (SG/SM/21851)Like Henry Ford's strategy over 100 years ago at the time of the mass introduction of the Model T Ford, Elon Musk had a similar strategy for switching from fossil fuels to renewable energy powered cars. '[Initially enter] the high end of the market, where customers are prepared to pay a premium, and then drive down [the] market as fast as possible to higher unit volume and lower prices with each successive model.'Elon MuskCEO Tesla Inc, Interview with Solar Tribune, Feb 16, 2020'Investing for the long term requires taking a long-term view of what will impact returns, including demographics, government policy, technological advancements, and the transition to a low carbon economy.'Laurence D FinkBlackrock Chairman and Chief Executive Officer, Larry Fink's Annual Chairman's Letter to Investors,Blackrock, 2023'Capital markets are an extraordinarily powerful tool in the fight against climate change. Government action is certainly critical. But ultimately, reducing emissions globally depends on the private sector recognizing the commercial opportunities that sustainability presents.'Michael R BloombergFounder of Bloomberg LP and Bloomberg PhilanthropiesDavid M SolomonCEO of Goldman SachsMobilize the Market to Fight Global WarmingBloomberg, Opinion Article, April 27, 2021

Climate Challenges in Fragile and Conflict-Affected States

Laura Jaramillo,Aliona Cebotari,Yoro Diallo,Rhea Gupta,Yugo Koshima,Chandana Kularatne,Jeong Dae Lee,Sidra Rehman,Kalin Tintchev,Mr. Kalin I Tintchev,Fang Yang
Climate Challenges in Fragile and Conflict Affected States Book PDF

Author : Laura Jaramillo,Aliona Cebotari,Yoro Diallo,Rhea Gupta,Yugo Koshima,Chandana Kularatne,Jeong Dae Lee,Sidra Rehman,Kalin Tintchev,Mr. Kalin I Tintchev,Fang Yang
Publisher : International Monetary Fund
Page : 51 pages
File Size : 46,9 Mb
Release : 2023-08-30
Category : Business & Economics
ISBN : 9798400252082

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Climate Challenges in Fragile and Conflict-Affected States by Laura Jaramillo,Aliona Cebotari,Yoro Diallo,Rhea Gupta,Yugo Koshima,Chandana Kularatne,Jeong Dae Lee,Sidra Rehman,Kalin Tintchev,Mr. Kalin I Tintchev,Fang Yang Pdf

Fragile and conflict-affected states (FCS) already face higher temperatures than other countries and will be more exposed to extreme heat and weather events going forward. Using innovative approaches, the paper finds that in FCS, climate vulnerability and underlying fragilities—namely conflict, heavy dependence on rainfed agriculture, and weak capacity—exacerbate each other, amplifying the negative impact on people and economies. FCS suffer more severe and persistent GDP losses than other countries due to climate shocks because their underlying fragilities amplify the impact of shocks, in particular in agriculture. At the same time, climate shocks worsen underlying fragilities, namely conflict. Macro-critical adaptation policies are needed to facilitate the immediate response to climate shocks and to build climate resilience over time. Sizeable and sustained international support—especially grants, concessional financing and capacity development—is urgent to avoid worse outcomes, including forced displacement and migration. The IMF is stepping up support to FCS in dealing with climate challenges through carefully tailored policy advice, financing, and capacity development.

Hanging Out to Dry? Long-term Macroeconomic Effects of Drought in Fragile and Conflict-Affected States

Mr. Kalin I Tintchev,Laura Jaramillo
Hanging Out to Dry Long term Macroeconomic Effects of Drought in Fragile and Conflict Affected States Book PDF

Author : Mr. Kalin I Tintchev,Laura Jaramillo
Publisher : International Monetary Fund
Page : 31 pages
File Size : 46,6 Mb
Release : 2024-05-24
Category : Business & Economics
ISBN : 9798400277221

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Hanging Out to Dry? Long-term Macroeconomic Effects of Drought in Fragile and Conflict-Affected States by Mr. Kalin I Tintchev,Laura Jaramillo Pdf

Using a comprehensive drought measure and a panel autoregressive distributed lag model, the paper finds that worsening drought conditions can result in long-term scarring of real GDP per capita growth and affect long-term price stability in Fragile and Conflict-Affected States (FCS), more so than in other countries, leaving them further behind. Lower crop productivity and slower investment are key channels through which drought impacts economic growth in FCS. In a high emissions scenario, drought conditions will cut 0.4 percentage points of FCS’ growth of real GDP per capita every year over the next 40 years and increase average inflation by 2 percentage points. Drought will also increase hunger in FCS, from alreay high levels. The confluence of lower food production and higher prices in a high emissions scenario would push 50 million more people in FCS into hunger. The macroeconomic effects of drought in FCS countries are amplified by their low copying capacity due to high public debt, low social spending, insufficient trade openness, high water insecurity, and weak governance.