Science, analysis, and news around climate change's impacts on the economy, focusing on growth, inflation, investment, companies, consumers #ClimateRisk #ClimateImpacts
Climate Risk Economics
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67% of registered US voters think global warming is affecting the cost of living in the US:
They say global warming is increasing the costs of their home utility bills (66%), groceries (61%), car (56%), home insurance (51%), home repair and maintenance (43%), and health care (35%)
A warning from the green radical extremist lunatics at... the University of Cambridge
Climate Risk Economics
Today's mission: Trenton, NJ, to testify concerning the Polluters Pay to Make New Jersey More Affordable Act.
Yes, oil prices are set at a global market (ahem, gwagner.com/scope)
No, making polluters pay for past pollution won't increase gas prices at the pump
gwagner.com/testimony-nj-a3735
New IMF study on "The Growth Effects of Natural Disasters" finds that catastrophic floods can lower growth by up to 3 percentage points, while once-in-100-year storms or heatwaves reduce growth by ~0.5pp and extreme droughts by ~1pp.
www.imf.org/en/publicati...
In Australia, New South Wales residents are already $20k a year worse off due to historical climate change, and economic modelling suggests future global warming will further squeeze household budgets through a double whammy of lost wages and higher grocery bills...
www.smh.com.au/environment/...
England’s coastal homes are falling into the sea — should we save them?
The UK Climate Change Committee said in May that about 30% of the shoreline that is currently planned to be maintained will be “financially unviable to defend”...
www.ft.com/content/e597...
Climate Risk Economics
Most voters think that global warming is affecting their cost of living.
climatecommunication.yale.edu
We construct standardized climate anomalies from daily observations and carefully calibrate physical thresholds to identify storms, floods, droughts, heatwaves, and cold snaps across 196 countries ove...
As well as the cost of extreme weather and natural disasters, longer-term climatic changes are also a drag on economic productivity, the NSW Net Zero Commission says.
www.smh.com.au
The impact of biodiversity risk on financial assets has long been well established “yet the financial sector has remained unresponsive…striking, given biodiversity loss poses both physical risks and transition risks [impacting]…financial assets”
www.sciencedirect.com/science/arti...
Rapid coastal erosion threatens thousands of houses, leaving politicians and communities with a dilemma: save the houses or let nature take its course?
Corporate net zero is not a target in the ordinary sense.
It is a vision with a target component and an obligation to act to make the vision possible, even when those actions don't show up in GHG inventories.
That is the core argument of a new paper I have written with Claire Wigg launching today.
Ripping up $387 million worth of ocean-monitoring equipment? Tearing apart an elite atmospheric science hub?
For the Trump administration, as with the cruelty, the ignorance is the point
Gift link to my column for @opinion.bloomberg.com
www.bloomberg.com/opinion/arti...
Impact weight all risk analysis.
“The world's first biodiversity-adjusted sovereign credit ratings shows how ecological destruction affects public finances – driving downgrades, debt crises and soaring borrowing costs”
www.cam.ac.uk/stories/biod...
Shutting down scientific inquiry because it discovers things you don’t like is a bit like turning off all the instruments on your plane because they warn you there’s a mountain ahead. It may satisfy y...
The world's first biodiversity-adjusted sovereign credit ratings shows how ecological destruction affects public finances – driving downgrades, debt crises and soaring borrowing costs, according to a ...
