Economic policy cannot afford to ignore the climate crisis, according to Cyprus Institute researchers

08:34 - 15 April 2025

Economy Reporter

Irrespective of other international political and economic news of these days, climate change is evolving into a crisis.

To address this crisis, both pillars of climate policy (mitigation of climate change through emissions reduction and adaptation to the already ongoing change) are essential for prosperity, social cohesion and economic sustainability.

At a time when the government of Cyprus is revising its National Climate Change Adaptation Strategy, the Cyprus Institute has just published a new Policy Brief about the costs and benefits of climate adaptation.

The Policy Brief highlights that the additional investment needs foreseen in the revised National Adaptation Strategy are within reach for the Cypriot economy but must be implemented soon. Without proper adaptation measures, the public expenditures to be needed in the coming decades for the rehabilitation of infrastructure and compensation for climate-related disasters may derail government spending.

In addition to economic impacts, lack of action in climate adaptation undermines social justice, and Cyprus is expected to be among the European countries with the most severe climate change impacts on vulnerable households.

Stakeholders and environmental professionals are invited to provide comments to the calculations presented in the Policy Brief, which is available in English and in Greek.

Economic policy cannot afford to ignore the climate crisis, according to Cyprus Institute researchers

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