We Are All in the Same Boat

Are assets in a landlocked country subject to sea-level rise risk? In this paper, we study the cross-border spillovers of physical climate risks through international trade and supply chain linkages. As we base our findings on historical data between 1970 and 2018, we observe that globalization increased the similarity of countries’ global climate risk exposures. Exposures to foreign climatic disasters in major trade partner countries (both upstream and downstream) lower the home-country stock market valuation for the aggregate market and for the tradable sectors. We also find that exposures to foreign long-term climate change risks reduce the asset price valuations of the tradable sectors at home. Findings in this paper suggest that climate adaptation efforts in a country can have positive externalities on other countries’ macrofinancial performance and stability through international trade.

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On Climate Change Risks of Long-Term Socio-Economic Development in Russia

Russian Economic Journal ◽

10.33983/0130-9757-2019-5-79-95 ◽

2019 ◽

pp. 79-95

Author(s):

N.E. Terentiev

Keyword(s):

Climate Change ◽

Economic Development ◽

Technological Innovation ◽

Global Climate Change ◽

Global Climate ◽

Climate Risk ◽

Climate Change Risks ◽

Socio Economic Development ◽

Management Policies

Based on the latest data, paper investigates the dynamics of global climate change and its impact on economic growth in the long-term. The notion of climate risk is considered. The main directions of climate risk management policies are analyzed aimed, first, at reducing anthropogenic greenhouse gas emissions through technological innovation and structural economic shifts; secondly, at adaptation of population, territories and economic complexes to the irreparable effects of climate change. The problem of taking into account the phenomenon of climate change in the state economic policy is put in the context of the most urgent tasks of intensification of long-term socio-economic development and parrying strategic challenges to the development of Russia.

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Long-term thermal sensitivity of Earth’s tropical forests

Science ◽

10.1126/science.aaw7578 ◽

2020 ◽

Vol 368 (6493) ◽

pp. 869-874 ◽

Cited By ~ 22

Author(s):

Martin J. P. Sullivan ◽

Simon L. Lewis ◽

Kofi Affum-Baffoe ◽

Carolina Castilho ◽

Flávia Costa ◽

...

Keyword(s):

Tropical Forests ◽

Climate Adaptation ◽

Global Climate ◽

Thermal Sensitivity ◽

Forest Carbon ◽

Maximum Temperature ◽

Permanent Plots ◽

Short Term ◽

Earth’S Climate

The sensitivity of tropical forest carbon to climate is a key uncertainty in predicting global climate change. Although short-term drying and warming are known to affect forests, it is unknown if such effects translate into long-term responses. Here, we analyze 590 permanent plots measured across the tropics to derive the equilibrium climate controls on forest carbon. Maximum temperature is the most important predictor of aboveground biomass (−9.1 megagrams of carbon per hectare per degree Celsius), primarily by reducing woody productivity, and has a greater impact per °C in the hottest forests (>32.2°C). Our results nevertheless reveal greater thermal resilience than observations of short-term variation imply. To realize the long-term climate adaptation potential of tropical forests requires both protecting them and stabilizing Earth’s climate.

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Insurance as a risk management system in green construction

BIO Web of Conferences ◽

10.1051/bioconf/20224206003 ◽

2022 ◽

Vol 42 ◽

pp. 06003

Author(s):

Kheda Murtazova ◽

Salambek Aliyev

Keyword(s):

Climate Change ◽

Large Scale ◽

Global Climate ◽

Green Building ◽

Economic Research ◽

Corporate Strategies ◽

Climate Risks ◽

Risk Management System ◽

The Impact

The study of the problems of the impact of climate change on economic development has become in recent years one of the main directions of economic research. At the same time, along with the development of a global macroeconomic policy in the field of climate and green building, more and more attention is paid to the analysis of corporate strategies to reduce risks and adapt to the consequences of climate change. Without large-scale business investments in green innovative technologies and the introduction of corporate standards for reducing greenhouse gas emissions, it is impossible to achieve long-term targets for reducing global climate risks.

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Resilience Dividends and Resilience Windfalls: Narratives That Tie Disaster Resilience Co-Benefits to Long-Term Sustainability

Sustainability ◽

10.3390/su13084554 ◽

2021 ◽

Vol 13 (8) ◽

pp. 4554

Author(s):

Jennifer Helgeson ◽

Cheyney O’Fallon

Keyword(s):

Sustainable Development ◽

Global Climate ◽

Research Question ◽

Policy Implications ◽

Disaster Resilience ◽

Climate Agreements ◽

Investment Projects ◽

Climate Risks ◽

Trade Offs

The need for increased disaster resilience planning, especially at the community level, as well as the need to address sustainability are clear; these dual objectives have been deemed national priorities in a number of recent US Executive Orders. Major global climate agreements, (i.e., the Sendai Framework for Disaster Risk Reduction, Paris Climate Agreement, and the Sustainable Development Goals) all emphasize the need to integrate disaster resilience and climate risks with continued sustainable development concerns. Current ways of assessing synergies and trade-offs across planning for disaster resilience and sustainability in investment projects that impact communities are limited. The driving research question in this paper is how researchers and practitioners may better express relative categories of co-benefits to meet this need. We draw upon the categorization of some co-benefits as contributing to the resilience dividend, which has helped communication across fields and created bridges from research to practical on-the-ground planning in recent years. Furthermore, we leverage the growing focus on the need to recognize the role of narratives in driving decisions about how and where to invest, which elucidates the inherent value of archetypes that resonate across stakeholders and disciplines to describe investments that may meet multiple objectives. We introduce the concept of a resilience windfall as an unexpected or sudden gain or advantage of resilience planning to be conceptualized alongside resilience dividends. We then assess the practicality of decerning resilience windfalls across various projects that have aspects of both resilience and sustainability. We recount five narrative vignettes that demonstrate disaster resilience interventions and associated resilience dividends and windfalls. This effort highlights the importance of considering resilience dividends and resilience windfalls during the planning, execution, and evaluation phases of disaster resilience projects. These typologies provide an important contribution to the integration agenda between disaster resilience, climate risks, and sustainable development. There are policy implications of framing incentives for interventions that address both disaster resilience and long-term sustainability objectives as well as encouraging robust tracking of both resilience dividends and windfalls.

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Agroforestry to Achieve Global Climate Adaptation and Mitigation Targets: Are South Asian Countries Sufficiently Prepared?

Forests ◽

10.3390/f12030303 ◽

2021 ◽

Vol 12 (3) ◽

pp. 303

Author(s):

Shalini Dhyani ◽

Indu K Murthy ◽

Rakesh Kadaverugu ◽

Rajarshi Dasgupta ◽

Manoj Kumar ◽

...

Keyword(s):

South Asia ◽

South Asian ◽

Climate Adaptation ◽

Global Climate ◽

Well Being ◽

Agroforestry Systems ◽

Climate Mitigation ◽

Asian Countries ◽

Implementation Phase ◽

Adaptation And Mitigation

Traditional agroforestry systems across South Asia have historically supported millions of smallholding farmers. Since, 2007 agroforestry has received attention in global climate discussions for its carbon sink potential. Agroforestry plays a defining role in offsetting greenhouse gases, providing sustainable livelihoods, localizing Sustainable Development Goals and achieving biodiversity targets. The review explores evidence of agroforestry systems for human well-being along with its climate adaptation and mitigation potential for South Asia. In particular, we explore key enabling and constraining conditions for mainstreaming agroforestry systems to use them to fulfill global climate mitigation targets. Nationally determined contributions submitted by South Asian countries to the United Nations Framework Convention on Climate Change acknowledge agroforestry systems. In 2016, South Asian Association for Regional Cooperation’s Resolution on Agroforestry brought consensus on developing national agroforestry policies by all regional countries and became a strong enabling condition to ensure effectiveness of using agroforestry for climate targets. Lack of uniform methodologies for creation of databases to monitor tree and soil carbon stocks was found to be a key limitation for the purpose. Water scarcity, lack of interactive governance, rights of farmers and ownership issues along with insufficient financial support to rural farmers for agroforestry were other constraining conditions that should be appropriately addressed by the regional countries to develop their preparedness for achieving national climate ambitions. Our review indicates the need to shift from planning to the implementation phase following strong examples shared from India and Nepal, including carbon neutrality scenarios, incentives and sustainable local livelihood to enhance preparedness.

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Climate Mobility and Development Cooperation

Population and Environment ◽

10.1007/s11111-021-00387-5 ◽

2021 ◽

Author(s):

Robert Stojanov ◽

Sarah Rosengaertner ◽

Alex de Sherbinin ◽

Raphael Nawrotzki

Keyword(s):

Climate Adaptation ◽

Human Mobility ◽

Climate Impacts ◽

Development Cooperation ◽

Climate Variability And Change ◽

Policy Frameworks ◽

And Migration ◽

And Function ◽

Role And Function

AbstractDevelopment cooperation actors have been addressing climate change as a cross-cutting issue and investing in climate adaptation projects since the early 2000s. More recently, as concern has risen about the potential impacts of climate variability and change on human mobility, development cooperation actors have begun to design projects that intentionally address the drivers of migration, including climate impacts on livelihoods. However, to date, we know little about the development cooperation’s role and function in responding to climate related mobility and migration. As such, the main aim of this paper is to outline the policy frameworks and approaches shaping development cooperation actors’ engagement and to identify areas for further exploration and investment. First, we frame the concept of climate mobility and migration and discuss some applicable policy frameworks that govern the issue from various perspectives; secondly, we review the toolbox of approaches that development cooperation actors bring to climate mobility; and third, we discuss the implications of the current Covid-19 pandemic and identify avenues for the way forward. We conclude that ensuring safe and orderly mobility and the decent reception and long-term inclusion of migrants and displaced persons under conditions of more severe climate hazards, and in the context of rising nationalism and xenophobia, poses significant challenges. Integrated approaches across multiple policy sectors and levels of governance are needed. In addition to resources, development cooperation actors can bring data to help empower the most affected communities and regions and leverage their convening power to foster more coordinated approaches within and across countries.

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Global climatology and trends in convective environments from ERA5 and rawinsonde data

npj Climate and Atmospheric Science ◽

10.1038/s41612-021-00190-x ◽

2021 ◽

Vol 4 (1) ◽

Author(s):

Mateusz Taszarek ◽

John T. Allen ◽

Mattia Marchio ◽

Harold E. Brooks

Keyword(s):

Large Scale ◽

Climate Models ◽

Global Climate ◽

Convective Available Potential Energy ◽

Global Climate Models ◽

Convective Precipitation ◽

The Past ◽

The Tropics ◽

Rawinsonde Data

AbstractGlobally, thunderstorms are responsible for a significant fraction of rainfall, and in the mid-latitudes often produce extreme weather, including large hail, tornadoes and damaging winds. Despite this importance, how the global frequency of thunderstorms and their accompanying hazards has changed over the past 4 decades remains unclear. Large-scale diagnostics applied to global climate models have suggested that the frequency of thunderstorms and their intensity is likely to increase in the future. Here, we show that according to ERA5 convective available potential energy (CAPE) and convective precipitation (CP) have decreased over the tropics and subtropics with simultaneous increases in 0–6 km wind shear (BS06). Conversely, rawinsonde observations paint a different picture across the mid-latitudes with increasing CAPE and significant decreases to BS06. Differing trends and disagreement between ERA5 and rawinsondes observed over some regions suggest that results should be interpreted with caution, especially for CAPE and CP across tropics where uncertainty is the highest and reliable long-term rawinsonde observations are missing.

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Interrogating Climate Adaptation Financing in Zimbabwe: Proposed Direction

Sustainability ◽

10.3390/su13126517 ◽

2021 ◽

Vol 13 (12) ◽

pp. 6517

Author(s):

Innocent Chirisa ◽

Trynos Gumbo ◽

Veronica N. Gundu-Jakarasi ◽

Washington Zhakata ◽

Thomas Karakadzai ◽

...

Keyword(s):

Climate Change ◽

Developing Countries ◽

Climate Adaptation ◽

Global Climate ◽

Methodological Approach ◽

Extreme Weather Events ◽

Infrastructure Development ◽

Low Carbon ◽

Coastal Zones ◽

Resource Base

Reducing vulnerability to climate change and enhancing the long-term coping capacities of rural or urban settlements to negative climate change impacts have become urgent issues in developing countries. Developing countries do not have the means to cope with climate hazards and their economies are highly dependent on climate-sensitive sectors such as agriculture, water, and coastal zones. Like most countries in Southern Africa, Zimbabwe suffers from climate-induced disasters. Therefore, this study maps critical aspects required for setting up a strong financial foundation for sustainable climate adaptation in Zimbabwe. It discusses the frameworks required for sustainable climate adaptation finance and suggests the direction for success in leveraging global climate financing towards building a low-carbon and climate-resilient Zimbabwe. The study involved a document review and analysis and stakeholder consultation methodological approach. The findings revealed that Zimbabwe has been significantly dependent on global finance mechanisms to mitigate the effects of climate change as its domestic finance mechanisms have not been fully explored. Results revealed the importance of partnership models between the state, individuals, civil society organisations, and agencies. Local financing institutions such as the Infrastructure Development Bank of Zimbabwe (IDBZ) have been set up. This operates a Climate Finance Facility (GFF), providing a domestic financial resource base. A climate change bill is also under formulation through government efforts. However, numerous barriers limit the adoption of adaptation practices, services, and technologies at the scale required. The absence of finance increases the vulnerability of local settlements (rural or urban) to extreme weather events leading to loss of life and property and compromised adaptive capacity. Therefore, the study recommends an adaptation financing framework aligned to different sectoral policies that can leverage diverse opportunities such as blended climate financing. The framework must foster synergies for improved impact and implementation of climate change adaptation initiatives for the country.

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Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact

Sustainability ◽

10.3390/su13105418 ◽

2021 ◽

Vol 13 (10) ◽

pp. 5418

Author(s):

Nashwan M. A. Saif ◽

Jianping Ruan ◽

Bojan Obrenovic

Keyword(s):

International Trade ◽

Bilateral Trade ◽

Production Costs ◽

Research Directions ◽

Economic Distance ◽

Conceptual Paper ◽

Sudden Decrease ◽

Further Development ◽

Conceptual Research

The conceptual research aims to identify antecedents conducive to bilateral trade during the COVID-19 pandemic. Considering the relevance of bilateral trade for foreign policy and economy studies, there is a need for a renewed framework in times of extreme economic instability. As international commerce is essential for improving the country’s economy, we have examined how economic distance, population, trade percentage of GDP, exchange rate, and political changes interconnect and relate to COVID-19, influencing trade flows. This conceptual paper illustrates the likely impact of COVID-19 on international trade by exploring pandemics’ effects on standard trading parameters such as GDP, distance, policy stability, and population. We model the resulting shock as a multifaceted variable reflected in capital underutilization, manufacturing output decline, international trade costs inflation, production costs inflation, decrease in demand for certain services and shift from everyday needs towards activities that exclude the proximity between people, e.g., proclivity towards virtual market products. The sudden decrease in GDP and bilateral trade, as well as FDI, is amplified by further development of pandemics’ long-term consequences. We take COVID-19 to be a technological, financial, and policy shock significantly influencing international trade and economic development and argue that it will have a varying impact on diverse sectors and economies. The paper offers preliminary insight into the pandemic-related economics that are unfolding and deduce recommendations on positive changes in trading policy to fully leverage on arising trading opportunities and point to potential research directions.

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Territorial governance of managed retreat in Sweden: addressing challenges

Journal of Environmental Studies and Sciences ◽

10.1007/s13412-021-00696-z ◽

2021 ◽

Author(s):

Gunnel Göransson ◽

Lisa Van Well ◽

David Bendz ◽

Per Danielsson ◽

Jim Hedfors

Keyword(s):

Climate Adaptation ◽

Governance Framework ◽

Case Study Site ◽

Feasible Option ◽

Flexible Planning ◽

Barriers And Opportunities ◽

Study Sites ◽

Inland Flooding

AbstractMany climate adaptation options currently being discussed in Sweden to meet the challenge of surging seas and inland flooding advocate holding the line through various hard and soft measures to stabilize the shoreline, while managed retreat is neither considered as feasible option nor has it been explicitly researched in Sweden. However, failure to consider future flooding from climate change in municipal planning may have dangerous and costly consequences when the water does come. We suggest that managed retreat practices are challenging in Sweden, not only due to public opinions but also because of a deficit of uptake of territorial knowledge by decision-makers and difficulties in realizing flexible planning options of the shoreline. A territorial governance framework was used as a heuristic to explore the challenges to managed retreat in four urban case studies (three municipalities and one county) representing different territorial, hydrological and oceanographic environments. This was done through a series of participatory stakeholder workshops. The analysis using a territorial governance framework based on dimensions of coordination, integration, mobilization, adaptation and realization presents variations in how managed retreat barriers and opportunities are perceived among case study sites, mainly due to the differing territorial or place-based challenges. The results also indicate common challenges regardless of the case study site, including coordination challenges and unclear responsibility, the need for integrated means of addressing goal conflicts and being able to adapt flexibly to existing regulations and plans. Yet rethinking how managed retreat could boost community resilience and help to implement long-term visions was seen as a way to deal with some of the territorial challenges.

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