Suchergebnisse

Climate policy in the European Union (EU) and Germany changed significantly with the adoption of net-zero emissions targets. A key new development is the growing importance of carbon management. The umbrella term includes not only the capture and storage of CO2 (carbon capture and storage, CCS), but also CO2 capture and utilisation (carbon capture and utilisation, CCU) as well as the removal of CO2 from the atmosphere (carbon dioxide removal, CDR). It is important to provide clarity when differentiating between these approaches and identifying their relation to so-called residual emissions and hard-to-abate emissions. This is particularly important because it will determine the overall ambition of climate policy as well as shape future policy designs and their distributional impacts. Current policy and legislative processes should ensure that carbon management does not delay the phase-out of fossil fuels. New policy initiatives present an opportunity to actively shape the interface between ambitious climate and industrial policy. (author's abstract)

AbstractIn honor of the 40th anniversary of Risk Analysis, this article suggests ways of linking risk assessment and risk perception in developing risk management strategies that have a good chance of being implemented, focusing on the problem of reducing losses from natural hazards in the face of climate change. Following a checklist for developing an implementable risk management strategy, Section 2 highlights the impact that exponential growth of CO2 emissions is likely to have on future disaster losses as assessed by climate and social scientists. Section 3 then discusses how people perceive the risks of low‐probability adverse events and the cognitive biases that lead them to underprepare for future losses. Based on this empirical evidence, Section 4 proposes a risk management strategy for reducing future losses using the principles of choice architecture to communicate the likelihood and consequences of disasters, coupled with economic incentives and well‐enforced regulations.

Financial risk management for institutional investors has recently grown in scope to include long-term sustainability considerations and climate change risk concerns. This book shows how a national central bank in the Eurosystem has adapted its financial risk management principles and practices against the background of non-conventional monetary policy measures and following the introduction of sustainability criteria, with a special role for carbon-neutrality. The topics covered include a market-based approach to evaluating credit risk, the development of an independent credit rating system, and the properties and limitations of agencies sovereign ratings. Furthermore, the book analyzes the integration of sustainability principles into strategic asset allocation and describes the use of machine learning techniques for discerning the role of the E, S and G variables in equity returns. The authors also discuss the growth of the global green bond market and the greenium, as well as the sustainability indicators for large portfolios of corporate and government securities. Given its scope, the book will appeal to all professionals working in the field who would like to know the state-of-the-art in these areas.

The ongoing energy transition is irreversibly changing the nature and functioning of the energy sector and emerging new types of risks, with climate risk standing out in particular, being a result of the EU's energy and climate policy as well as global trends related to sustainable development. The materialisation of climate risk gives rise to a number of mutually interpenetrating new types of risk, among which financial, regulatory and social risks can be distinguished. Climate risk also manifests itself in the performance of the EU ETS CO2 emissions trading scheme, as well as in weather risks. The purpose of this paper is to define accurately the types of risk affecting the activities of energy entities and to indicate the impact of climate risk on them. The methods used in this research are literature review and data analysis. Climate risk is therefore an accelerator of new risks in the electric power sector and should thus be duly taken into account and mitigated, as ignoring it can have serious consequences. Hence, climate risk management is becoming one of the key elements of risk management across the energy sector. Decisions made by energy companies in line with the sustainable development paradigm will catalyse their growth and allow them to increase their value.

Most companies do not yet recognize what it means to adapt to future climate change, and do not yet see it as a business priority. This DoShort tackles two key questions facing decision makers: 1) Is adaptation worth it to me? and 2) If it is worth it, can I really tackle it?

v. 1. Climate encyclopedia overview ; Climate and finance ; Climate action ; Climate mitigation ; Climate and business ; Climate and youth; Climate and health ; Climate and faith ; Climate and the arts ; Climate education ; Climate consensus ; Climate conferences -- v. 2. Climate and economics ; Climate and justice ; Climate and morality ; Climate and food ; Climate and technology ; Climate science ; Climate adaptation ; Climate law -- v. 3. Climate and policy ; Climate impacts ; Climate risk management ; Climate and renewable energy ; Climate and electricity ; Climate and transportation.

Abstract
The August 8, 2023 Lahaina fire refocused attention on wildfires, public alerts, and emergency management. Wildfire risk is on the rise, precipitated through a combination of climate change, increased development in the wildland–urban interface (WUI), decades of unmitigated biomass accumulation in forests, and a long history of emphasis on fire suppression over hazard mitigation. Stemming the tide of wildfire death and destruction will involve bringing together diverse scientific disciplines into policy. Renewed emphasis is needed on emergency alerts and community evacuations. Land management strategies need to account for the impact of climate change and hazard mitigation on forest ecosystems. Here, we propose a long-term strategy consisting of integrating wildfire risk management in wider-scope forest land management policies and strategies, and we discuss new technologies and possible scientific breakthroughs.

It is a matter of common knowledge that weather represents the major source of uncertainty in crop production. It is to be expected that weather fluctuations will increase in the future due to climate change. More recently, there has been a discussion regarding the use of weather derivatives to safeguard against volumetric risks. Although weather derivatives display advantages over traditional insurances, there is only a relatively small market for these products in agriculture. This is partly attributed to the fact that it is unclear whether and to what extent weather derivatives are a useful instrument of risk management in agriculture. This study ap-plies real yield and weather data from northeast Germany in order to quantify the risk-reducing effect that can be achieved in wheat production by using precipitation options. To do so stochas-tic simulation is used. The hedging effectiveness is controlled by the contract design (index, strike level, tick size). However, the local basis risk and the geographical basis risk remain with the farmer. We separate both causes of basis risk and reveal the extent of each. This enables conclusions regarding the design of weather derivatives; thus the question dealt with here is relevant both for farmers and for potential sellers of weather derivatives.

section I. Managing climate change and health risks in megacities -- section II. Risk management and its relation to climate change -- section III. Global health risks, facts, and challenges of climate change implication -- section IV. Case study : researched megacities -- section V. Prognosis for change.