scholarly journals Climate changes: Economic impact and implication

2020 ◽  
Vol 22 (2) ◽  
pp. 51-71
Author(s):  
Vesna Martin
Keyword(s):  
Climate Change ◽  
Financial Stability ◽  
Climate Changes ◽  
Economic Cost ◽  
Climate Change Risk ◽  
Weather Events ◽  
Climate Change Risks ◽  
Liability Risk ◽  
Management Approaches ◽  
Monetary And Fiscal Policy

Climate changes nowadays present a topic of huge importance taking into account its influence on conducting monetary and fiscal policy, achieving and improving financial stability, but also it is a concern for regulators and supervisors. In order to have an appropriate reaction, it is necessary to identify risk from climate changes in a timely manner. Three categories of climate-related risks can be identified: 1) physical risks which are associated with more frequent severe weather events and permanent changes in the environment, 2) transition risks that represent the policies and technological changes needed to achieve a greener economy and 3) liability risk which represents the impacts that could arise tomorrow if parties who have suffered loss or damage from the effects of climate change seek compensation from those they hold responsible. As a way to achieve satisfactory results in the fight against climate change risks, the financial institutions developed climate change risk management approaches, which include a variety of methods and instruments. The aim of this paper is the presentation of impact and implication regarding climate change regulations, identification of the risks and its management approaches, as well as economic cost and proposals for future action.

scholarly journals Climate Change Risks in Financial Business

2021 ◽  
Vol 3 (49) ◽  
pp. 140-146
Author(s):  
I. V. Krasnova ◽  
◽  
L. O. Prymostka ◽  
V. V. Lavreniuk ◽  
◽  
...  
Keyword(s):  
Climate Change ◽  
Financial Institutions ◽  
Financial Stability ◽  
Complex Dynamics ◽  
Global Climate ◽  
Extreme Weather Events ◽  
Financial Risks ◽  
Weather Events ◽  
Climate Change Risks ◽  
High Level

The article is aimed at identifying, firstly, the features and the ways in which climate change influences the profile of financial business, and secondly, financial risks modification while taking into account climate change risks. Climate change is global, it causes new challenges for corporations, financial institutions and central banks, and for economy, as a whole. Statistics on the scale of the threatening impact produced by climate-re;ated risks on economy and its financial sector are presented. It is noted that the aggregate impact of climate change risks significantly exceeds the losses from the financial markets collapse. In particular, due to the natural disasters in 2020, the world economy suffered losses of about US$ 200 billion. The properties of climate-related risks are systematized and generalized, including the following: unpredictability, radical uncertainty, complex dynamics, chain effect, irreversibility, nonlinearity. Due to the high level of uncertainty, the problem of integrating climate change risks into the risk management system of financial institutions remains particularly complex. The ways in which risks generated by global climate change transform into financial risks are determined. It is noted that, despite the threatening impact of damage caused by extreme weather events and climate catastrophes, the management of these risks is still characterized by a low level of penetration into the system of risk-oriented management of financial institutions. In order for the financial business to effectively manage risks taking into account climate change, innovative approaches of strategic importance have been suggested, namely, green bonds and disaster bonds. The financial stability and sustainable dynamic development of economy will depend on the performance of financial institutions in implementing their policies in this area

Securing 2020 vision for 2030: climate change and ensuring resilience in water and sanitation services

2010 ◽  
Vol 1 (1) ◽  
pp. 2-16 ◽  
Author(s):  
Guy Howard ◽  
Katrina Charles ◽  
Kathy Pond ◽  
Anca Brookshaw ◽  
Rifat Hossain ◽  
...  
Keyword(s):  
Climate Change ◽  
Drinking Water ◽  
Water Supply ◽  
Climate Changes ◽  
Water And Sanitation ◽  
Sanitation Services ◽  
Development Goals ◽  
Management Approaches ◽  
Sanitation Systems ◽  
Water Supply And Sanitation

Drinking-water supply and sanitation services are essential for human health, but their technologies and management systems are potentially vulnerable to climate change. An assessment was made of the resilience of water supply and sanitation systems against forecast climate changes by 2020 and 2030. The results showed very few technologies are resilient to climate change and the sustainability of the current progress towards the Millennium Development Goals (MDGs) may be significantly undermined. Management approaches are more important than technology in building resilience for water supply, but the reverse is true for sanitation. Whilst climate change represents a significant threat to sustainable drinking-water and sanitation services, through no-regrets actions and using opportunities to increase service quality, climate change may be a driver for improvements that have been insufficiently delivered to date.

Emerging climate changes and the risks to the operation of building assets in the UK

2016 ◽  
Vol 14 (1) ◽  
pp. 21-35 ◽  
Author(s):  
Abdullah Alzahrani ◽  
Halim Boussabaine ◽  
Ali Nasser Alzaed
Keyword(s):  
Climate Change ◽  
Climate Changes ◽  
Mitigation Strategies ◽  
Future Climate Change ◽  
Climate Change Scenarios ◽  
Content Type ◽  
Starting Point ◽  
Climate Change Risks ◽  
The Uk ◽  
The Impact

Purpose – The purpose of this paper is to report results from a survey on emerging climate changes and the risks to the operation of building assets in the UK. The property sector is facing major challenges as a result of projected climate change scenarios. Predictions concerning future climate change and the subsequent impact on building operations are still subject to a high degree of uncertainty. However, it is important that building stockholders consider a range of possible future risks that may influence the operation of their assets. Design/methodology/approach – The literature review and questionnaire are used to elicit and assess the likelihood of occurrence of climate change risks impacting building operations. The survey was carried out among building stockowners and professionals in the UK. Statistical methods were used to rank and compare the findings. Findings – The majority of the respondents strongly agreed that the list of risks that were elicited from the literature will have an impact on their building assets within a 0-5 years’ time horizon. It was found that the professionals were most concerned about higher energy prices and an increase in operation costs in general; they were least concerned about an electricity blackout. Research limitations/implications – This paper is limited to the UK, and regional variations are not explored. Nevertheless, the buildings’ operation risk study provides a starting point for further investigations into the emerging risks from climate change, and their impact on the operation of building stock. Future work could investigate direct mapping between climate risks and the financial value of properties. Originality/value – Findings of this paper can help professionals and building stockowners improve their understanding of climate change risks and the impact on their assets. This paper could also help these individuals to formulate appropriate adaptation and mitigation strategies.

scholarly journals Climate change risk: Challenge for corporate governance

2021 ◽  
Vol 10 (2, special issue) ◽  
pp. 258-268
Author(s):  
Hugh Grove ◽  
Maclyn Clouse ◽  
Tracy Xu
Keyword(s):  
Climate Change ◽  
Corporate Governance ◽  
Global Climate Change ◽  
Boards Of Directors ◽  
Global Climate ◽  
Research Question ◽  
Empirical Studies ◽  
Future Research ◽  
Climate Change Risk ◽  
Climate Change Risks

The major research question of this paper is to analyze climate change risk as a challenge to corporate governance. Climate action failure was the environmental risk most frequently listed in the top ten country risks. It also becomes a major reason that many companies are taking their own initiatives on climate change action which poses an imminent challenge for corporate governance as boards of directors track and assess such initiatives by their own companies. Boards can play a key role in guiding their organizations into the next new normal in the wake of global pandemic, economic disruptions, and ongoing climate change problems. This paper identifies and studies the corporate governance risks and opportunities related to global climate change risk and provides recommendations to boards of directors. The major sections of this paper are global climate change risks, corporate climate change pledges, climate-related financial disclosures, major topics in the Global Climate Change report, whether companies are ready to manage major climate change risks and opportunities, climate-related investment benchmarks, and conclusions. Future research could investigate this climate change risk challenge with case studies or empirical studies.

scholarly journals Comparison of Awareness and Perception of Climate Change between Proklim and Non-Proklim Farmers in Sleman District

2021 ◽  
Vol 232 ◽  
pp. 04007
Author(s):  
Moh. Wahyudi Priyanto ◽  
Jangkung Handoyo Mulyo ◽  
Irham
Keyword(s):  
Climate Change ◽  
Climate Change Adaptation ◽  
Random Sampling ◽  
Sampling Method ◽  
Simple Random Sampling ◽  
Adaptation Strategy ◽  
Moderate Level ◽  
Climate Change Risk ◽  
Climate Change Risks ◽  
The Government

Program kampung iklim (Proklim) was launched by the Government to increase the implementation of the climate change adaptation strategy. The decision to adopt an adaptation strategy is influenced by farmers’ perceptions of climate change. This study aims to determine the level and compare the awareness of the climate change and perceptions of the climate change risks, among farmers from the Proklim and non-Proklim locations. The study was conducted in 3 sub-districts that have Proklim location, in Sleman Regency. By using the simple random sampling method, a total of 112 farmers were selected from the Proklim and non-Proklim locations in the same proportion. The results showed that the Proklim and non-Proklim locations were dominated by farmers with an awareness of climate change and perceptions of climate change risks at a moderate level. Other findings showed that farmers from the Proklim location had a higher awareness of climate change compared with non-Proklim farmers, with a difference of awareness of 6.44%. Perceptions of climate change risk among farmers from the two locations didn’t show significant differences.

scholarly journals MODELING OF REDUCING RISK OF DIRECT IMPACT (HAILSTONES) IN AGRICULTURE

2020 ◽  
Vol 1 (5) ◽  
pp. 21-26
Author(s):  
B.A. Ashabokov ◽  
◽  
L.M. Fedchenko ◽  
A.А. Tashilova ◽  
L.A. Kesheva ◽  
...  
Keyword(s):  
Climate Change ◽  
Decision Making ◽  
Air Temperature ◽  
Climate Changes ◽  
Surface Air Temperature ◽  
Agricultural Products ◽  
Information Support ◽  
Direct Impact ◽  
Weather Events ◽  
Calculation Results

Due to the fact that the south of Russia is the most important producer of agricultural products, the work discusses the possible consequences of climate change and reduce the risks associated with them. At the same time, it is assumed that the risks associated with climate change can be caused by both “slow” climate changes (increase in surface air temperature) and dangerous weather events (hail), the frequency and destructive force of which increase due to climate change. The paper discusses possible approaches to reducing risks associated with hazardous weather events (hailstones). In the framework of the theory of decision-making, the formulation of the problem of reducing the losses of a given industry from the noted phenomena, which is the task of making decisions in risk conditions, is proposed. The features of information support of this problem and the main tasks that arise in the way of its practical use are discussed. The results of calculations that were performed to analyze the effectiveness of the proposed method to reduce agricultural losses from urban habits are presented. The calculation results showed that the method is quite effective and can be used to reduce agricultural losses from hail.

Transitioning to a Prosperous, Resilient and Carbon-Free Economy

2021 ◽  
Keyword(s):  
Climate Change ◽  
Global Warming ◽  
Natural Resources ◽  
Sea Level Rise ◽  
Sea Level ◽  
Climate Changes ◽  
Decision Makers ◽  
Extreme Weather Events ◽  
Early Adoption ◽  
Weather Events

This book is a comprehensive manual for decision-makers and policy leaders addressing the issues around human caused climate change, which threatens communities with increasing extreme weather events, sea level rise, and declining habitability of some regions due to desertification or inundation. The book looks at both mitigation of greenhouse gas emissions and global warming and adaption to changing conditions as the climate changes. It encourages the early adoption of climate change measures, showing that rapid decarbonisation and improved resilience can be achieved while maintaining prosperity. The book takes a sector-by-sector approach, starting with energy and includes cities, industry, natural resources, and agriculture, enabling practitioners to focus on actions relevant to their field. It uses case studies across a range of countries, and various industries, to illustrate the opportunities available. Blending technological insights with economics and policy, the book presents the tools decision-makers need to achieve rapid decarbonisation, whilst unlocking and maintaining productivity, profit, and growth.

Nexus of Climate Change and Sustainable Real Estate

2021 ◽  
pp. 71-83
Author(s):  
Thabiso Sthembiso Msomi ◽  
Odunayo Magret Olarewaju
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Carbon Dioxide ◽  
Real Estate ◽  
Commercial Real Estate ◽  
Climate Change Risk ◽  
Growth Phenomenon ◽  
Property Owners ◽  
Climate Change Risks ◽  
Climate Patterns

This chapter investigates the nexus of climate change and real estate sustainability. Climate change is the topical dramatic swing of the planet's normal climate patterns caused by a spike in emissions of carbon dioxide triggered by human activities. Climate change risk is not being effectively estimated into commercial real estate assessments. Due to high demand for coastal properties, a lopsided share of commercial real estate is vulnerable to climate change risks. Thus, it was concluded that real estate is an essential part of an evolving growth phenomenon and also plays a major role in stimulating economic growth. This makes it important for investors and property owners/dealers to be resilient in combating climate change, and adequate information should be available for investors so they will know the risk attached to their investment.

The Use of Carbon Finance for Struggling With Climate Change

2019 ◽  
pp. 321-347
Author(s):  
Filiz Konuk
Keyword(s):  
Climate Change ◽  
Environmental Problem ◽  
Science And Technology ◽  
Weather Conditions ◽  
Economic Losses ◽  
Global Level ◽  
Weather Events ◽  
Climate Change Risks ◽  
Carbon Finance

The developments in science and technology have brought a lot of problems with them. The most important of these is climate change, which appears at the global level. The effect of climate change, which comes first as an environmental problem, cannot be ignored. Management, which has had serious income and economic losses because of weather conditions, has taken several precautions in order to reduce climate change risks. One of these is weather derivations. Weather derivations are a safety type that makes the determined payments if there are defined weather events. However, the most commonly used are weather option agreements, weather swap agreements, and weather future agreements. In the chapter, climate change and the weather derivations that are a means that managements use to avoid climate change risks will be explained.

Climate Change risks and adaptation for Mediterranean grapevine production

2020 ◽  
Author(s):  
David Santillan ◽  
Luis Garrote ◽  
Ana Iglesias ◽  
Vicente Sotes
Keyword(s):  
Climate Change ◽  
Mediterranean Region ◽  
Climate Changes ◽  
Production Sector ◽  
Climatic Indices ◽  
International Policies ◽  
Climate Change Risks ◽  
Potential Adaptation ◽  
Adaptation Limits ◽  
Global Datasets

<p>Traditional Mediterranean crops, such as grapevine, a permanent wood crop, are well adapted to the lack of water and recurrent drought in the Mediterranean region. This study uses grapevine production indicators that are widely used by practitioners, linking science to the tools used by practitioners and therefore encouraging action and innovation among all stakeholders. The study evaluates potential adaptation choices that may contribute to real-time policy analysis and development as national and international policies and agreements in the grapevine production sector. The climate changes scenarios are derived from global datasets. Adaptation efforts are estimated proportionally to the change of the climatic indices and are categorized into low, medium or high, as a function of the excepted changes in climatic indices. The study emphasizes that non-informed adaptation limits future choices in areas severely impacted. The content of the study is based on the results of the iSQAPER (http://www.isqaper-project.eu/) H2020 project and the UPM Adapt project.</p>

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