Western Balkans must invest $37 B to shield against climate hazards

A World Bank report revealed that the six Western Balkan economies—Albania, Bosnia & Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia—will need to invest at least $37 billion over the next decade to safeguard against escalating climate impacts, including floods, wildfires, and droughts. The report highlights that investing in adaptation provides a $4 return for every $1 spent, underscoring the economic imperative of climate resilience. Moreover, achieving net-zero by 2050 would require an additional $32 billion, with necessary investments in renewables, energy efficiency, and sustainable transport. However, benefits will hinge on stable regulations and incentives to attract private sector capital. The full report is available here.