{
  "title": "Macro-Fiscal Implications of Adaptation to Climate Change",
  "publication": "Staff Climate Notes, March 23, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/staff-climate-notes/issues/2022/03/16/macro-fiscal-implications-of-adaptation-to-climate-change-512769",
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  "summary": "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?",
  "sections": [
    {
      "heading": "Overview and purpose",
      "content": "- Adaptation to climate change is framed as an integral part of sustainable development and a necessity for advanced and developing economies alike.\n- Core question: How can adaptation be planned for and mainstreamed into fiscal policy?\n- Preconditions highlighted: setting up inclusive coordination mechanisms and strengthening legal foundations to incorporate climate change."
    },
    {
      "heading": "Four building blocks for mainstreaming adaptation",
      "content": "- 1. Taking stock of present and future climate risks, identifying knowledge and capacity gaps, and establishing guidance for next steps.\n- 2. Developing adaptation solutions.\n  - Guided by extending the IMF three-pillar disaster resilience strategy to address changes in both extreme and average weather.\n  - Would cover: the prevention of risks, the alleviation of residual risks, and macro-fiscal resilience.\n- 3. Mainstreaming these solutions into government operations.\n  - 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.\n- 4. Providing for transparent evaluations to inform future plans.\n  - Involves continually monitoring progress and regularly updating adaptation plans."
    },
    {
      "heading": "Key findings and emphases",
      "content": "- Adaptation planning should be inclusive and legally grounded to be effective.\n- The IMF three-pillar disaster resilience strategy is recommended to be extended to cover both extreme events and shifts in average climate conditions.\n- Mainstreaming requires adjustments across public financial management, budgeting, macro-frameworks, public investment management, and asset and liability management.\n- Transparent monitoring and regular updates of adaptation plans are essential for iterative improvement."
    },
    {
      "heading": "Subject and keywords",
      "content": "- Subject: Climate change, Climate finance, Environment, Natural disasters\n- Keywords: adaptation, adaptation cost, aid, Climate change, Climate finance, copyright page, Global, IMF analysis, IMF staff Climate note, IMF staff Climate Note 2022/002, macro-fiscal framework, Natural disasters\n\nSource: IMF Staff Climate Note — \"Macro-Fiscal Implications of Adaptation to Climate Change\", March 23, 2022.\n\n---\n\n Content in this bundle\n\n- Macro-Fiscal Implications of Adaptation to Climate Change; March 23, 2022\n  - Macro-Fiscal Implications of Adaptation to Climate Change; March 23, 2022 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Macro-Fiscal Implications of Adaptation to Climate Change; March 23, 2022 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/staff-climate-notes/issues/2022/03/16/macro-fiscal-implications-of-adaptation-to-climate-change-512769"
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    "Authors: Zamid Aligishiev, Emanuele Massetti, Matthieu Bellon",
    "Published: March 23, 2022",
    "Series: Staff Climate Notes",
    "DOI: https://doi.org/10.5089/9798400201608.066",
    "Adaptation to climate change is framed as an integral part of sustainable development and a necessity for advanced and developing economies alike.",
    "Core question: How can adaptation be planned for and mainstreamed into fiscal policy?",
    "Preconditions highlighted: setting up inclusive coordination mechanisms and strengthening legal foundations to incorporate climate change.",
    "1. Taking stock of present and future climate risks, identifying knowledge and capacity gaps, and establishing guidance for next steps.",
    "2. Developing adaptation solutions.",
    "3. Mainstreaming these solutions into government operations.",
    "4. Providing for transparent evaluations to inform future plans.",
    "Adaptation planning should be inclusive and legally grounded to be effective.",
    "The IMF three-pillar disaster resilience strategy is recommended to be extended to cover both extreme events and shifts in average climate conditions.",
    "Mainstreaming requires adjustments across public financial management, budgeting, macro-frameworks, public investment management, and asset and liability management.",
    "Transparent monitoring and regular updates of adaptation plans are essential for iterative improvement.",
    "Subject: Climate change, Climate finance, Environment, Natural disasters",
    "Keywords: adaptation, adaptation cost, aid, Climate change, Climate finance, copyright page, Global, IMF analysis, IMF staff Climate note, IMF staff Climate Note 2022/002, macro-fiscal framework, Natural disasters",
    "**Macro-Fiscal Implications of Adaptation to Climate Change; March 23, 2022**"
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