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Global projections of the economic impacts of climate change have usually focused on rising average temperatures. Now, two studies depict more complex and gloomier scenarios by incorporating variability in temperature and precipitation.
Current model-based financial regulations favour carbon-intensive investments. This is likely to disincentivize banks from investing in new low-carbon assets, impairing the transition to net zero. Financial regulators and policymakers should consider how this bias may impact financial system stability and broader societal objectives.
The effectiveness of carbon dioxide emission reduction targets increases with the level of the targets’ ambition and countries’ education level and income equality, according to an analysis using an econometric model and emission intensity and socio-economic data for 163 countries over the past decade.
Thurner and colleagues explore how economic shocks spread risk through the globalized economy. They find that rich countries expose poor countries stronger to systemic risk than vice-versa. The risk is highly concentrated, however higher risk levels are not compensated with a risk premium in GDP levels, nor higher GDP growth. The findings put the often-praised benefits for developing countries from globalized production in a new light, by relating them to risks involved in the production processes
Analysis of projected sub-national damages from temperature and precipitation show an income reduction of 19% of the world economy within the next 26 years independent of future emission choices.
Existing global economic damage assessments only focus on the impacts induced by annual temperature changes. Including variability and extremes of temperature and precipitation in climate damage projections raises global gross domestic product losses and exacerbates global disparities of economic damage.
This paper explores legal processes for penalty setting in water theft cases in transboundary water systems and develops ideas to identify differences and potentially drive consistency between jurisdictions.
The Maldives are racing to reclaim vast amounts of land to combat rising sea levels. But many are concerned that these efforts risk harming the paradise they aims to protect
Global projections of the economic impacts of climate change have usually focused on rising average temperatures. Now, two studies depict more complex and gloomier scenarios by incorporating variability in temperature and precipitation.
Current model-based financial regulations favour carbon-intensive investments. This is likely to disincentivize banks from investing in new low-carbon assets, impairing the transition to net zero. Financial regulators and policymakers should consider how this bias may impact financial system stability and broader societal objectives.
The relationship between urban mobility and economic development remains controversial. New research analyzes how people in major US cities move and shows the power of infrequent and irregular activities in predicting economic development.