Related papers: Physical Climate Risk in Asset Management
Arctic warming threatens over 100 billion in permafrost-dependent infrastructure across Northern territories, yet existing risk assessment frameworks lack spatiotemporal validation, uncertainty quantification, and operational…
The frequency and magnitude of weather extreme events have increased significantly during the past few years in response to anthropogenic climate change. However, global statistical characteristics and underlying physical mechanisms are…
Extreme weather is one of the main mechanisms through which climate change will directly impact human society. Coping with such change as a global community requires markedly improved understanding of how global warming drives extreme…
Alpine permafrost environments are highly vulnerable and sensitive to changes in regional and global climate trends. Thawing and degradation of permafrost has numerous adverse environmental, economic, and societal impacts. Mathematical…
We conduct a sensitivity analysis of a new type of integrated climate-economic model recently proposed in the literature, where the core economic component is based on the Goodwin-Keen dynamics instead of a neoclassical growth model.…
The purpose of this paper is to illustrate new techniques for computing multiday extreme precipitation taken from recent theoretical advancements in extreme value theory in the framework of dynamical systems, using historical precipitation…
This paper introduces a Bayesian hierarchical modeling framework within a fully probabilistic setting for crop yield estimation, model selection, and uncertainty forecasting under multiple future greenhouse gas emission scenarios. By…
Firms should keep capital to offer sufficient protection against the risks they are facing. In the insurance context methods have been developed to determine the minimum capital level required, but less so in the context of firms with…
Intense precipitation events are commonly known to be associated with an increased risk of flooding. As a result of the societal and infrastructural risks linked with flooding, extremes of precipitation require careful modelling. Extreme…
With rising global temperatures Earth's tipping elements are becoming increasingly more vulnerable to crossing their critical thresholds. The reaching of such tipping points does not only impact other tipping elements through their…
Transition risk can be defined as the business-risk related to the enactment of green policies, aimed at driving the society towards a sustainable and low-carbon economy. In particular, the value of certain firms' assets can be lower…
As climate change drives an increase in global extremes, it is critical for Bangladesh, a nation highly vulnerable to these impacts, to assess future risks for effective adaptation and mitigation planning. Downscaling coarse-resolution…
In recent years, the monitoring and study of natural hazards have gained significant attention, particularly due to climate change, which exacerbates incidents like floods, droughts, storm surges, and landslides. Together with the constant…
The economic impacts of climate change are highly uncertain. Two of the most important uncertainties are the sensitivity of the climate system and the so-called damage functions, which relate climate change to economic damages and benefits.…
We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads -- i.e., loads minus renewable outputs…
Physics-based climate projections using general circulation models are essential for assessing future risks, but their coarse resolution limits regional decision-making. Statistical downscaling can efficiently add detail, yet many methods…
In many insurance contexts, dependence between risks of a portfolio may arise from their frequencies. We investigate a dependent risk model in which we assume the vector of count variables to be a tree-structured Markov random field with…
In highly renewable power systems the increased weather dependence can result in new resilience challenges, such as renewable energy droughts, or a lack of sufficient renewable generation at times of high demand. The weather conditions…
Extreme weather events have significant consequences, dominating the impact of climate on society. While high-resolution weather models can forecast many types of extreme events on synoptic timescales, long-term climatological risk…
A simple banking network model is proposed which features multiple waves of bank defaults and is analytically solvable in the limiting case of an infinitely large homogeneous network. The model is a collection of nodes representing…