GSS EU Science Funding Gateway

This topic contributes to the three objective of the Mission and correspond to one of the thematic research areas described in the Mission Implementation Plan. It is to support regions and communities participating in the Mission in all steps of their transformational journey to climate resilience with finding, innovating, and testing solutions that help their economic systems to become sustainable and climate resilient. The applied research and the experimentation with innovative solutions as further outlined below should be at the centre of the project.

Climate change affects macroeconomic outcomes, financial markets and institutions primarily through physical risks (gradual warming and extreme events) and transition risks. Possible channels of impact of climate change on the European economy include, for example, decline in agricultural productivity and yields, lower labour productivity due to extreme heatwaves and lower human capital accumulation due to increased health issues and mortality, new or increased occupational health and safety risks to workers, disruption to transport and production chains, or changes in sectoral composition of labour markets leading to higher structural unemployment.

The transformation of economic systems towards climate resilience will have to find pathways to climate resilience and sustainability for all relevant sectors that are affected by climate change, including climate-resilient business models, value chains, up-skilling and reskilling dynamics, and always considering at the heart of the debate the acceptance of the innovations to be implemented by the society. These pathways should be aligned with the regions’ smart specialisation strategies and integrated in the overall climate adaptation strategy of regions.