Planning And Mainstreaming Adaptation To Climate Change In Fiscal Policy
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Planning And Mainstreaming Adaptation To Climate Change In Fiscal Policy
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Author : Emanuele Massetti
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-23
Planning And Mainstreaming Adaptation To Climate Change In Fiscal Policy written by Emanuele Massetti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-23 with Business & Economics categories.
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
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Author : Mr. Zamid Aligishiev
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-23
Macro Fiscal Implications Of Adaptation To Climate Change written by Mr. Zamid Aligishiev and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-23 with Business & Economics categories.
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
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Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-24
Fiscal Policies To Address Climate Change In Asia And The Pacific written by Ms.Era Dabla-Norris and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-24 with Business & Economics categories.
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.
Climate Sensitive Management Of Public Finances Green Pfm
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Author : Mr. Fabien Gonguet
language : en
Publisher: International Monetary Fund
Release Date : 2021-08-11
Climate Sensitive Management Of Public Finances Green Pfm written by Mr. Fabien Gonguet and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-11 with Business & Economics categories.
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.
Adaptation Policy Frameworks For Climate Change
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Author : Ian Burton
language : en
Publisher: Cambridge University Press
Release Date : 2004-11-15
Adaptation Policy Frameworks For Climate Change written by Ian Burton and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-11-15 with Science categories.
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.
Economic Principles For Integrating Adaptation To Climate Change Into Fiscal Policy
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Author : Mr. Matthieu Bellon
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-23
Economic Principles For Integrating Adaptation To Climate Change Into Fiscal Policy written by Mr. Matthieu Bellon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-23 with Business & Economics categories.
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.
Integrating Climate Change Adaptation Into Development Co Operation Policy Guidance
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2009-08-24
Integrating Climate Change Adaptation Into Development Co Operation Policy Guidance written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-24 with categories.
This book provides essential information and advice on how to facilitate the integration of climate change adaptation into development processes.
Climate Resilient Fiscal Planning
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Author : Asian Development Bank
language : en
Publisher: Asian Development Bank
Release Date : 2023-11-01
Climate Resilient Fiscal Planning written by Asian Development Bank and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-01 with Business & Economics categories.
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.
Enabling Pathways For Drought Finance In Agriculture
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Author : Food and Agriculture Organization of the United Nations
language : en
Publisher: Food & Agriculture Org.
Release Date : 2023-08-30
Enabling Pathways For Drought Finance In Agriculture written by Food and Agriculture Organization of the United Nations and has been published by Food & Agriculture Org. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-30 with Social Science categories.
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
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2023-12-21
Republic Of Palau written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-21 with Business & Economics categories.
Republic of Palau: Selected Issues