Watkiss et al Policy brief January 2023
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- Even if the Paris Agreement goal of reducing the global temperature rise to below two degrees, the economic costs of climate change in Rwanda are projected to be large.
- Climate change will affect medium-term development and poverty reduction, as well as long-term growth and Vision 2050 goals. It is also a major macroeconomic risk and likely to affect the public finances of Rwanda.
- Climate impacts over the next 20 years are already locked-in: these potential impacts can only be reduced with adaptation.
- This policy brief explores how adaptation can cost-effectively reduce the near-term economic costs of climate change.
- There is a greater need to integrate climate change adaptation into economic policy making and public financial management.