Seychelles: Climate Change Policy Assessment
IMF Staff Country Reports, June 20, 2017
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- Seychelles: Climate Change Policy Assessment
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Bibliographic details
- Published: June 20, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484304808.002
Summary and purpose
- This paper takes stock of Seychelles’ plans to manage climate change, from the perspective of its macroeconomic implications.
- It suggests macro-relevant reforms that could strengthen the plans’ likelihood of success.
- It highlights high public awareness and a body of existing sustainable development planning, which puts Seychelles several steps ahead toward preparedness.
- It emphasizes that next steps would be to ensure that climate change planning is integrated with the forthcoming National Development Plan.
- It notes that disaster preparedness is a relatively strong point, but there is much still to be done—from improving warning systems to resilience building to contingency financing.
Major findings and macroeconomic implications
- High public awareness and existing sustainable development planning improve Seychelles’ preparedness for climate change.
- Integration of climate change planning with the forthcoming National Development Plan is a priority to enhance policy coherence and effectiveness.
- Disaster preparedness strengths exist, but gaps remain in warning systems, resilience building, and contingency financing that have macroeconomic relevance.
Policy recommendations and reforms (macro-relevant)
- Ensure climate change planning is integrated with the forthcoming National Development Plan.
- Strengthen disaster preparedness through:
- Improving warning systems.
- Building resilience.
- Establishing contingency financing mechanisms.
- Implement macro-relevant reforms to increase the likelihood of successful climate-change management (specific reform measures are suggested in the paper).
Thematic scope and subjects
- Subject: Carbon tax, Climate change, Environment, Expenditure, Natural disasters, Public investment and public-private partnerships (PPP), Renewable energy, Taxes
- Keywords: Carbon tax, Caribbean, climate change, Climate change, climate change Risks, CR, disaster risk reduction effort, energy security, financial support, financing gap, Global, government financing, import bill, investment strategy, ISCR, mitigation plan, Natural disasters, near-to-full employment, PIM practice, Public investment and public-private partnerships (PPP), Renewable energy, Seychelles' NDC
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- Country Report