Federated States of Micronesia: Climate Change Policy Assessment

September 6, 2019

Preview Citation

Format: Chicago

Federated States of Micronesia: Climate Change Policy Assessment, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Summary

This Climate Change Policy Assessment (CCPA) takes stock of the Federated States of Micronesia (FSM)’s climate response plans, from the perspective of their macroeconomic and fiscal implications. CCPA explores the possible impact of climate change and natural disasters and the cost of FSM’s planned response. It suggests macroeconomically relevant reforms that could strengthen the national strategy and identifies policy gaps and resource needs. FSM has made progress toward its Nationally Determined Contribution mitigation pledge by beginning to expand renewable power generation and improve its efficiency. The authorities plan to continue this and encourage the take-up of energy efficient building design and appliances. Accelerating adaptation investments is paramount, which requires addressing critical capacity constraints and increasing grant financing. It is recommended that FSM needs to increase its capacity to address natural disaster risks following the expiry of Compact-related assistance in 2023. It is advised to improve climate data collection and use, including on the costs of high and low intensity disasters and disaster response expenditure.

Subject: Climate change, Climate policy, Disaster aid, Environment, Foreign aid, Infrastructure, National accounts, Natural disasters

Keywords: Capital project, Climate change, Climate policy, CR, Disaster aid, Excise tax, Financial support, Fiscal cliff, FSM authorities, Global, Government of FSM, Infrastructure, ISCR, Natural disasters, Pacific Islands, Real GDP

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/292
Stock No:

1FSMEA2019002
ISBN:

9781513513669
ISSN:

1934-7685

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