scholarly journals Finance, climate-change and radical uncertainty: Towards a precautionary approach to financial policy

2021 ◽  
Vol 183 ◽  
pp. 106957 ◽  
Author(s):  
Hugues Chenet ◽  
Josh Ryan-Collins ◽  
Frank van Lerven
2021 ◽  
Vol 13 (11) ◽  
pp. 6280
Author(s):  
Jem Bendell ◽  
Katie Carr

This article synthesises the practice and rationale behind ways of facilitating gatherings on topics of societal disruption and collapse, which is argued to be useful for lessening damaging responses. The authors draw on first-person inquiry as facilitators of gatherings, both online and in person, in the post-sustainability field of ‘Deep Adaptation,’ particularly since 2018. This term describes an agenda and framework for people who believe in the probable, inevitable or unfolding collapse of industrial consumer societies, due to the direct and indirect impacts of human-caused climate change and environmental degradation. Some of the principles of Deep Adaptation facilitation are summarised, such as containment, to enable co-responsibility for a safe enough space for difficult conversations. Another key principle is welcoming radical uncertainty in response to the anxieties that people feel from their anticipation of collapse. A third principle is making space for difficult emotions, which are welcomed as a natural and ongoing response to our predicament. A fourth aspect is a curiosity about processes of othering and separation. This paper provides a review of the theories that a reason for environmental destruction is the process of othering people and nature as being less significant or meaningful. One particular modality called Deep Relating is outlined.


2019 ◽  
Vol 19 (185) ◽  
Author(s):  
Signe Krogstrup ◽  
William Oman

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.


2020 ◽  
Author(s):  
Kirstin Holsman ◽  
Alan Haynie ◽  
Anne Hollowed ◽  
Jonathan C. P. Reum ◽  
Kerim Ayind ◽  
...  

Abstract Stepwise methodology for determining climate-informed multispecies biological references points for sustainable fishery harvest. This approach follows the status quo North Pacific Marine Fishery Council reviewed multispecies assessment methodology and represents a precautionary approach that minimizes inflation of Acceptable Biological Catch (ABC) due to predator release and also minimizes potential non-intuitive compound effects of climate change and fishing under declining conditions (i.e., whereby a climate informed B0 declines with climate-change and produces a lower target biomass such as B40%).


Author(s):  
Daniel G. Boyce ◽  
Susanna Fuller ◽  
Chelsey Karbowski ◽  
Katie Schleit ◽  
Boris Worm

In response to fisheries declines and delayed population recoveries, many management agencies globally are integrating alternative strategies that incorporate precautionary and ecosystem considerations, increasingly focusing on climate variability and change. Here, we quantitatively evaluate how these themes have been incorporated into the science and management plans for Canada’s fisheries by analyzing the content of 905 research and management documents published by the Fisheries and Oceans Canada (DFO) for the Atlantic and Eastern Arctic regions. We found that the precautionary approach was mentioned much more frequently (44%) than climate change (11%) or ecosystem approaches to fisheries management (1%). Of research documents that mentioned climate change, 61% contained only a single reference to it, suggesting that it is not quantitatively evaluated in the science that informs the advisory and decision-making processes. Most references to climate change in the DFO research documents expressed high uncertainty of how climate change would impact the stock dynamics. We propose explanations for this and discuss approaches for increasing the incorporation of these themes into Canada’s fishery management.


2020 ◽  
Vol 14 (2) ◽  
pp. 224-240
Author(s):  
Jan Jorrit Hasselaar

Abstract The purpose of this article is to explore an understanding of hope that seeks to bridge the gap between a contemplative and action-oriented approach to hope. The argument is based in particular on an extensive study of the literature concerning the work of Jonathan Sacks. His reading of hope reaches back to the narrative of the Exodus and highlights several key assumptions to do with the principle of radical uncertainty. The intention is to situate these assumptions within the context of climate change. Most notably, Sacks’ concept of hope reveals a transformative response to climate change in which people gradually change their identity. For Sacks the key instrument of transformation for both religious and secular is a public Sabbath. An example of such is provided and Sacks’ thinking is set alongside the work of some leading theologians.


2019 ◽  
Vol 3 (6) ◽  
pp. 723-729
Author(s):  
Roslyn Gleadow ◽  
Jim Hanan ◽  
Alan Dorin

Food security and the sustainability of native ecosystems depends on plant-insect interactions in countless ways. Recently reported rapid and immense declines in insect numbers due to climate change, the use of pesticides and herbicides, the introduction of agricultural monocultures, and the destruction of insect native habitat, are all potential contributors to this grave situation. Some researchers are working towards a future where natural insect pollinators might be replaced with free-flying robotic bees, an ecologically problematic proposal. We argue instead that creating environments that are friendly to bees and exploring the use of other species for pollination and bio-control, particularly in non-European countries, are more ecologically sound approaches. The computer simulation of insect-plant interactions is a far more measured application of technology that may assist in managing, or averting, ‘Insect Armageddon' from both practical and ethical viewpoints.


2019 ◽  
Vol 3 (2) ◽  
pp. 221-231 ◽  
Author(s):  
Rebecca Millington ◽  
Peter M. Cox ◽  
Jonathan R. Moore ◽  
Gabriel Yvon-Durocher

Abstract We are in a period of relatively rapid climate change. This poses challenges for individual species and threatens the ecosystem services that humanity relies upon. Temperature is a key stressor. In a warming climate, individual organisms may be able to shift their thermal optima through phenotypic plasticity. However, such plasticity is unlikely to be sufficient over the coming centuries. Resilience to warming will also depend on how fast the distribution of traits that define a species can adapt through other methods, in particular through redistribution of the abundance of variants within the population and through genetic evolution. In this paper, we use a simple theoretical ‘trait diffusion’ model to explore how the resilience of a given species to climate change depends on the initial trait diversity (biodiversity), the trait diffusion rate (mutation rate), and the lifetime of the organism. We estimate theoretical dangerous rates of continuous global warming that would exceed the ability of a species to adapt through trait diffusion, and therefore lead to a collapse in the overall productivity of the species. As the rate of adaptation through intraspecies competition and genetic evolution decreases with species lifetime, we find critical rates of change that also depend fundamentally on lifetime. Dangerous rates of warming vary from 1°C per lifetime (at low trait diffusion rate) to 8°C per lifetime (at high trait diffusion rate). We conclude that rapid climate change is liable to favour short-lived organisms (e.g. microbes) rather than longer-lived organisms (e.g. trees).


2001 ◽  
Vol 70 (1) ◽  
pp. 47-61 ◽  
Author(s):  
Robert Moss ◽  
James Oswald ◽  
David Baines

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