The World Bank estimates that Serbia will need around $9.5 billion in investments over the next 30 years to adapt to extreme weather conditions. These investments are expected to pay off between two and ten times by reducing damages and generating ecological and economic benefits.
Between 2000 and 2020, Serbia suffered at least €6.8 billion in damages due to extreme weather events. Southeastern Europe is warming faster than the global average—while the global temperature has risen by 1.1°C, Serbia’s increase is about 1.8°C.
Without adequate adaptation, Serbia risks catastrophic damage from floods, droughts, and extreme temperatures, along with wider impacts on health, economy, and society.
Adaptation measures include improving flood protection, restoring floodplains, developing early warning systems, subsidizing hail protection, and regulating outdoor work during heatwaves. The Serbian government has allocated €7.3 million for adaptation efforts through 2026, but much larger investments are needed.
According to Dr. Ivana Ostojić of the Institute of Social Sciences, adaptation investments bring a “triple dividend”: avoided losses, accelerated economic potential, and increased social and environmental benefits. These include protecting infrastructure, enhancing biodiversity, improving air quality, water management, reducing greenhouse gas emissions, and boosting public health.
The World Bank projects benefit-cost ratios from 2 to 10 for adaptation projects, meaning every dollar invested could return between two and ten dollars in benefits.
Ostojić also highlights that such investments can stimulate job growth, skill development, and trade opportunities. Serbia has made progress with national adaptation programs, digital tools, ecological pilot projects, and climate-resilient forest management aligned with EU standards.
Further investments in adaptation are crucial not only for environmental reasons but also for Serbia’s economic resilience.
