Computable general equilibrium (CGE) model simulations for Namibia indicate that over 20 years, annual losses to the Namibian economy could be up to 5% of GDP, due to the impact that climate change will have on its natural resources alone. This will affect the poorest people the most, with resulting constraints on employment opportunities and declining wages, especially for unskilled labour in rural areas. Namibia must take steps to ensure that all its policies and activities are 'climate proofed' and that it has a strategy to deal with displaced farmers and farm workers. Keywords: climate change, climate policy, natural resource accounting.