Economic Effects of Climate Change in Russia

The article systematizes the repercussions of climate change for the sectors of the Russian economy. A methodology for quantitative economic assessment of the impact from permafrost degradation and floods on economic facilities of the fuel and energy complex, agriculture and forestry is introduced. Estimates of all-range effects are integrated into a single unit of measurement: the change in the Russia’s GDP folllowing a 1°C increase in average annual temperature. Based on scenario calculations, it is argued that an active policy of adaptation to climate change provides for a positive effect for the country’s economy. On the contrary, the refusal from or missing adaptation measureincrease the risk of significant damage and losses for the national economy worth more than three trillion rubles or about 1.9% of GDP (2022).