Background
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Key Findings
Adaptation investments are essential with benefits outweighing costs. Estimated at $6 billion, adaptation investments need to be front-loaded over the next decade or so. The analysis from the region shows that for each 1€ invested, return values range from 2¨C10€. These benefits include reduced losses, increased economic potential, and social and environmental co-benefits. By building resilience, Albania could unlock opportunities for firms and households, supporting job creation and economic growth.
Accelerating the energy transition toward net-zero emissions by 2050 is feasible, but Albania will need more transformative investments in renewables like wind, solar, and biomass, to build the foundation for electrification of transport and industry. This transition requires a diversified energy system, improved energy efficiency, and electrification of transport and heating. This transition will also open new sectors in the wind, solar and EV value chains and create economic opportunities.
The private sector is crucial for financing climate initiatives (it is estimated that across the WB6 region, 85 percent of decarbonization investment will be private). &