Assessing the Macro-Fiscal Risks from Climate Change: Concepts, Methodological Approaches, and Insights from Country Practices

This paper supports reflection on how to approach assessments of the macro-fiscal risks from climate change, in light of the 2024 climate-related amendments to Directive 2011/85/EU on Requirements for Budgetary Frameworks of the Member States. It outlines key concepts, explores possible methodological approaches and available tools, and presents country practices that illustrate emerging approaches across Europe.