Economy, Energy, Emissions

30.11.2020

Many countries lack experience in assessing the impact of climate change on economic development. Nevertheless, the use of reliable methods for assessing climate risks is becoming increasingly important: understanding of such risks will allow us to adopt long-term development strategies that are resilient to climate change and develop consistent adaptation plans.

"Policy Advice for Climate Resilient Economic Development" (CRED) Global Program implemented by the German Development Cooperation Agency GIZ and International Consultant GWS (Gesellschaft für Wirtschaftliche Strukturforschung - Institute of Economic Structures Research), together with its partners in Kazakhstan, Georgia and Vietnam, has started to develop macroeconomic models that simulate the economic consequences of climate change and effectiveness of adaptation measures.

CRED project works with local stakeholders to implement methods and tools for calculating the economic impact of climate change impacts. The beneficiary and political partner of the Project in Kazakhstan is the Ministry of National Economy of the Republic of Kazakhstan; the Partner of this project in Kazakhstan is the Center for Macroeconomic Research and Forecasting of Economic Research Institute JSC.

Economic Research Institute JSC under the auspices of the Ministry of National Economy of the Republic Kazakhstan is a Research Institute which conducts research on macroeconomic policy, socio-economic development of the Republic of Kazakhstan and its regions, development of business environment. ERI develops strategic documents and models for economic development forecasting. In this way, the Institute supports policy development processes and provides the Ministry with effective recommendations for developing economic development strategies and programs.

In March 2020, a group of model developers (7-10 people) was created: experts from ERI, Zhasyl-Damu, Nazarbayev University and Talap CAR. In July 2020, the first 10-day training for developers on building the Е3.kz model (Economy, Energy, Emissions) was held for Kazakhstan, which shows the economic damage caused by climate change (for example, droughts and floods) at the national level, as well as economic benefits of adaptation measures.

At this stage, Economic Research Institute JSC provided full support in creating the Е3.kz model by collecting, analyzing, and preparing the necessary data for modeling and discussing the necessary specification criteria for the model being developed. Economic Research Institute JSC (ERI) will be the owner of Е3.kz model owner.

On November 26, 2020, the CRED team, together with national partners and stakeholders, held a preparatory online meeting to discuss the upcoming training on "Climate Change Impact Modeling and Adaptation Measures" in December 2020. During the meeting, participants got acquainted with the pre-developed Е3.kz model, agreed on the program and discussed issues that should be included in the online sessions of the upcoming training.

As a result of the event, we received feedback, recommendations and suggestions for organizing a training that will be useful for participants and their work. The five-day training organized by the CRED Program in cooperation with Economic Research Institute JSC will help you understand how to use macroeconomic modeling tools to assess possible economic damage from climate change impacts.




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