Cover of EconPol Policy Brief 61 - EU Development Policy and Climate Change

EU Development Policy and Climate Change

Andrey Samarskiy and Maria Waldinger

Key Messages

  • The Samoa Agreement in November 2023 marks an expansion of the EU's priority areas of development cooperation.
  • It recognizes climate change as a factor that affects all areas of economic, political and social development, especially in poor countries through its impact on the agricultural sector.
  • EU development policy should support innovation in financial mechanisms for family farms to mitigate the negative effects of climate-related income shocks.
  • In addition, it can bring about lasting structural change by reducing transport costs and thus promoting greater openness in product markets as well as the free movement of people.
Abstract

The Samoa Agreement in November 2023 marks an expansion of the EU's core areas of development cooperation. This article shows how climate change affects other priority areas of economic, political and social development. Two adaptation measures deserve more attention: The EU development policy should support innovation in financial mechanisms for family farms to mitigate the negative effects of climate-related income shocks. In addition, it can bring about lasting structural change by reducing transport costs, thereby promoting greater openness in product markets and the free movement of people.

Series
EconPol Policy Briefs
Download
Downoad EconPol Policy Brief 61434.48 KB
Citation

Andrey Samarskiy, Maria Waldinger: “EU Development Policy and Climate Change,” EconPol Policy Brief 61, June 2024.