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GEMMES, to understand the effects of climate change on the economy
GEMMES is a macroeconomic modelling tool that takes into account climate dynamics (mitigation and adaptation) and the scarcity of natural resources in its assessment of macroeconomic, social and financial risks. GEMMES makes it possible to test transition policies.
Objectives
- Provide a quantitative representation of the macroeconomic impacts of ecological transitions in order to inform decision makers.
- Analyze public policies and financial risks that may emerge in the context of a transition and their effects on economic activities.
- Feed and strengthen public policy dialogue on ecological transitions, at national and international levels.
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GEMMES versions developed by AFD:
- Colombia (fiscal and financial impacts of a global transition)
- Côte d’Ivoire (macroeconomic and socioeconomic impacts of energy transition
policies) - Vietnam (socio-economic impacts of adaptation policies)
- Tunisia and Morocco (macroeconomic and/or socio-economic impacts of adaptation policies in the agriculture sector)
- South Africa (macroeconomic impacts and policy options for the low-carbon transition)
- Mexico (climate financial risk analysis)
- Brazil (macroeconomic impacts of the country’s national strategy for ecological transformation)
Beneficiaries:
- Governments (ministries of finance, development and/or environment, central banks)
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Benefits
- An innovative macroeconomic approach
- Support for public decision-making
- A comprehensive tool that ensures all sectors of the economy are taken into account in the transition scenarios.
Type of instrument: Grant
Budget: €500 K – €1 M
Targeted projects: Economic modelling
Operation: GEMMES is an instrument of public policy dialogue with partner countries. It allows a common language to emerge between different sectoral ministries (water, agriculture, energy) and at a crosssectoral level (finance, planning, central banks). It establishes a bridge between academic and political spheres (researchers and decisionmakers) and between different disciplines (such as economists, ecologists, agronomists and engineers).
Each GEMMES model is developed based on the specific characteristics of the country with the help of local academic and ministerial partners
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