Econometric Assessment of Institutional Quality in Mitigating Global Climate-Change Risk

Background: Environmental deterioration is the alarming situation that results from rapid urbanization and development. The rising temperature and climate volatility are accounted for by the massive carbon dioxide (CO2) emissions. The research on climate-change mitigation is trying to curtail the situations before they become irreversible and unmanageable. This study explores the role of institutions in mitigating climate change by moderating the impact of environmental quality on climate change risk. Methodology: Global data sets have been collected from world big data depositories like the World Economic Forum (WEF), the World Development Indicators (WDI), and the International Country Risk Guide (ICRG). Countries that are listed in WEF were used as the sample of the study. An analysis was based on 114 countries that are based on the availability of data. For estimation, descriptive statistics, correlation analysis, change effects, and a Panel Feasible Generalized Least Squares (FGLS) model were used for estimating the results. Results: The global assessment indicates that CO2 emissions increase the climate risk, but its impact can be reduced by increasing the quality of institutions. Additionally, an increase in renewable energy consumption and economic growth reduces the climate risk. Implications: It is an instrumental study that empirically investigated the role of institutions in reducing climate risk by moderating CO2 emissions. The results of this study will help policymakers to formulate policies regarding environmental protection.

A General Approach for Financial Quantification of Climate Change Risk for Enterprises

Climate change is a major risk for the global economy. Increased frequency of climatic events coupled with unsustainable economic development without considering environmental & social aspects has resulted in runaway climatic impacts. It became evident for all stakeholders to work in unison; which led to formation of Task force on climate-related financial disclosures (TCFD). Financial quantification of climate risk is a new area to be explored & could be an effective measure to tackle climate change. This chapter provides a general approach for financial quantification of climate change risk for businesses to understand & prioritize climate action. Though the approach is limited to the manufacturing sector, it can be used with some modifications for other sectors. It will help find impacts that climate change could pose to supply chain using various tools & evaluation of its usefulness. As 'Climate Action' is part of Sustainable Development Goals; it will be useful to understand how integrating TCFD could help enterprises tackle climate change by localizing SDG-13 into their businesses.

A General Approach for Financial Quantification of Climate Change Risk for Enterprises

Climate change is a major risk for the global economy. Increased frequency of climatic events coupled with unsustainable economic development without considering environmental & social aspects has resulted in runaway climatic impacts. It became evident for all stakeholders to work in unison; which led to formation of Task force on climate-related financial disclosures (TCFD). Financial quantification of climate risk is a new area to be explored & could be an effective measure to tackle climate change. This chapter provides a general approach for financial quantification of climate change risk for businesses to understand & prioritize climate action. Though the approach is limited to the manufacturing sector, it can be used with some modifications for other sectors. It will help find impacts that climate change could pose to supply chain using various tools & evaluation of its usefulness. As 'Climate Action' is part of Sustainable Development Goals; it will be useful to understand how integrating TCFD could help enterprises tackle climate change by localizing SDG-13 into their businesses.

Mapping Transboundary Climate Change Risk: the case study of the Trinational Metropolitan Area Upper Rhine Area

In this study we examine the spatial patterns of risk towards climate change and climatic extremes in the “Trinational Metropolitan Region Upper Rhine” (TMU). Following the concept of risk analysis, we identify the regional dimension of climatic stressors in relation to the socio-economic dimension. We present an indicator-based assessment, which operationalizes risk as a product of its subcomponents climatic stressors, spatial occurrence, sensitivity and impact.We map them individually and aggregate them into a composite index. We also address the specific challenges of the trinational situation, which has an impact on the availability, homogeneity and resolution of comparable data sets. We show that risk can be approximated and mapped despite the uncertainties and additionally we explore to what extent the subcomponents contribute to the overall index. The results show differentiated spatial patterns of risk with cross-border clusters i.e. transnational corridors. Risk is amplified depending on the driving climate scenario for 2021–2050, 2041–2070 and 2071–2100, and increases during the course of the century, especially in the transnational metropolitan corridors of the TMU. Further focus on transnational spatial planning and cooperation is needed in future adaption research and practice.

Building climate change adaptation indicator set for Moc Hoa district, Long An province

To date, work in the field of climate change adaptation has resulted in many strategies for adaptation. In Vietnam, there have been many climate change adaptation activities implemented but has not been evaluated fully on effectiveness so that we can modify or make a replica of them systematically. In order to evaluate the effectiveness of carried out climate change adaptation activities, it is necessary to assess the current status of climate change adaptation for each local. In this paper, a set of CCA status evaluation indicators was developed and appreciated for Moc Hoa district, Long An province, to support a comprehensive assessment of the adaptation ability of this study area, the validity of investment resources allocation, and vulnerability to expose suitable policies. This set includes three indicators which are natural environment resilience, climate change vulnerability and climate change risk mitigation. The results showed that the environmental resilience indicators and the risk mitigation indicators were arranged at the medium level, while the climate change vulnerability indicators were high.