Corporate commitment to climate change action, carbon risk exposure, and a firm's debt financing policy

2021 ◽  
Author(s):  
Tesfaye T. Lemma ◽  
Ayalew Lulseged ◽  
Mohammad Tavakolifar
Keyword(s):  
Climate Change ◽  
Debt Financing ◽  
Risk Exposure ◽  
Financing Policy ◽  
Corporate Commitment

scholarly journals The Global Adaptation Mapping Initiative (GAMI): Part 3 – Coding protocol

2021 ◽  
Author(s):  
Alexandra Lesnikowski ◽  
Lea Berrang-Ford ◽  
A.R. Siders ◽  
Neal Haddaway ◽  
Robbert Biesbroek ◽  
...  
Keyword(s):  
Climate Change ◽  
Scientific Literature ◽  
Global Climate ◽  
Expert Elicitation ◽  
Risk Exposure ◽  
Human Adaptation ◽  
Natural Systems ◽  
Vulnerability To Climate Change ◽  
Review Protocol ◽  
Reduce Risk

Abstract Context: It is now widely accepted that the climate is changing, and that societal response will need to be rapid and comprehensive to prevent the most severe impacts. A key milestone in global climate governance is to assess progress on adaptation. To-date, however, there has been negligible robust, systematic synthesis of progress on adaptation or adaptation-relevant responses globally. Aim: The purpose of this review protocol is to outline the methods used by the Global Adaptation Mapping Initiative (GAMI) to systematically review human adaptation responses to climate-related changes that have been documented globally since 2013 in the scientific literature. The broad question underpinning this review is: Are we adapting to climate change? More specifically, we ask ‘what is the evidence relating to human adaptation-related responses that can (or are) directly reducing risk, exposure, and/or vulnerability to climate change?’ Methods: We review scientific literature 2013-2019 to identify documents empirically reporting on observed adaptation-related responses to climate change in human systems that can directly reduce risk. We exclude non-empirical (theoretical & conceptual) literature and adaptation in natural systems that occurs without human intervention. Included documents were coded across a set of questions focused on: Who is responding? What responses are documented? What is the extent of the adaptation-related response? What is the evidence that adaptation-related responses reduce risk, exposure and/or vulnerability? Once articles are coded, we conduct a quality appraisal of the coding and develop ‘evidence packages’ for regions and sectors. We supplement this systematic mapping with an expert elicitation exercise, undertaken to assess bias and validity of insights from included/coded literature vis a vis perceptions of real-world adaptation for global regions and sectors, with associated confidence assessments. Related protocols: This protocol represents Part 3 of a 5-part series outlining the phases of this initiative. Part 3 outlines the methods used to extract data on adaptation from documents (coding), as well as procedures for data quality assurance. See Figure 1.

scholarly journals FINANCING POLICY OF FIRMS IN THE CONTEXT OF CRISIS-INDUCED VULNERABILITIES

2017 ◽  
Author(s):  
Mihaela Brindusa Tudose ◽  
Valentina Diana Rusu
Keyword(s):  
Financial Crisis ◽  
Financial Structure ◽  
Debt Financing ◽  
Financial Fragility ◽  
Economic Conditions ◽  
Financing Policy ◽  
Positive Effects ◽  
Financial Balance

Our study analyses the changes in the financial structure of the firms in the context of the vulnerabilities induced by the financial crisis. The study show that there have been registered a reconfiguration of firms’ financial structure which has triggered an increase in their financial fragility and vulnerability to crises. The results obtained confirm that the effects of financing differ depending on the economic conditions in particular period (normal periods and crisis periods). In tranquil times solvency is more important for the firms than liquidity. After crisis, the firms became more cautious regarding liquidity, solvency and the prospect of securing long-term financial balance. These firms have abandoned the objective of maximizing the positive effects of debt financing adopting a more prudent financing.

scholarly journals Climate Change, Flood Risk Prediction and Acute Gastrointestinal Infection in the Republic of Ireland, 2008-2017

2020 ◽  
Author(s):  
Martin Boudou ◽  
Eimear Cleary ◽  
Paul Hynds ◽  
Jean O'Dwyer ◽  
Patricia Garvey ◽  
...  
Keyword(s):  
Climate Change ◽  
Risk Assessment ◽  
Return Period ◽  
Flood Risk ◽  
Geographical Information ◽  
Risk Exposure ◽  
Flood Risk Assessment ◽  
Republic Of Ireland ◽  
Risk Probability ◽  
The Republic

<p>Environmentally associated infectious diseases, including those driven by extreme weather events, represent a critical challenge for public health as their source and transmission are frequently sporadic and associated mechanisms often not well understood. Over the past decade, the Republic of Ireland (ROI) has persistently reported the highest incidence of confirmed verotoxigenic E. coli (VTEC) and cryptosporidiosis infection in the European Union. Moreover, recent climate projections indicate that the incidence, severity and timing of extreme rainfall events and flooding will increase dramatically over the next century, with Ireland forecast to be the second most affected European country with respect to the mean proportion of the population residing in flood-prone areas by 2100. This study aimed to assess the association(s) between potential flood risk exposure and the spatial occurrence of confirmed VTEC and cryptosporidiosis infection in Ireland over a 10-year period (2008-2017).</p><p>In 2012, the Irish Office of Public Works (OPW) initiated the National Catchment Flood Risk Assessment and Management (CFRAM) Programme within the framework of the Flood Directive (2007/60/CE), with high-resolution flood maps produced for coastal and fluvial risks and three risk scenarios based on calculated return periods (low, medium and high probability). Small area identifiers (national census area centroids) were used to attach anonymised spatially referenced case data to CFRAM polygons using Geographical Information Systems (GIS) to produce an anonymised dataframe of confirmed infection events linked to geographically explicit flood risk attributes. Generalised linear modelling with binary link functions (infection presence/absence) were used to calculate probabilistic odds ratios (OR) between flood risk (presence/absence and scenarios) and confirmed human infection.</p><p>Preliminary results indicate a clear relationship between both infections and hydrological risk. Over one third of all infection cases were reported within areas exposed to flood risk (VTEC 948/2755 cases; cryptosporidiosis 1548/4509 cases). Census areas categorised by a high (10-year Return Period) fluvial flood risk probability exhibited significantly higher incidence rates for both VTEC (OR: 1.83, P = 0.0003) and cryptosporidiosis (OR: 1.80, P = 0.0015). Similarly, areas characterised by low (1000-year Return Period) coastal flood risk probability were over twice as likely to report ≥1 confirmed case of cryptosporidiosis during the study period (OR: 2.2, P= 0.003). Space-time scan statistics (temporally-specific spatial autocorrelation) indicate an unseasonal peak of cryptosporidiosis cases occurring during April 2016, a majority of which took place within or adjacent to high flood risk areas (56% of total cases), revealing a potential relationship with the exceptional flooding events experienced during winter 2015-2016 (November-January). Further work will seek to identify the individual/combined flood risk (CFRAM) elements most significantly associated with the incidence of infections.</p><p>Flood risk assessment mapping may represent an innovative approach to assessing the human health impacts of flood risk exposure and climate change. The outcomes of this study will contribute to predictive modelling of VTEC and cryptosporidiosis in Ireland, thus aiding surveillance and control of these diseases in the future, and the causative nature of regional hydrology and climate.   </p>

scholarly journals The Uncertainty Contagion: Revealing the Interrelated, Cascading Uncertainties of Managed Retreat

2020 ◽  
Vol 12 (2) ◽  
pp. 736 ◽  
Author(s):  
Christina Hanna ◽  
Iain White ◽  
Bruce Glavovic
Keyword(s):  
Climate Change ◽  
At Risk ◽  
New Zealand ◽  
Natural Hazard ◽  
Risk Exposure ◽  
Climate Change Risks ◽  
Risk Communities ◽  
Forms Of Knowledge

Managed retreat presents a dilemma for at-risk communities, and the planning practitioners and decisionmakers working to address natural hazard and climate change risks. The dilemma boils down to the countervailing imperatives of moving out of harm’s way versus retaining ties to community and place. While there are growing calls for its use, managed retreat remains challenging in practice—across diverse settings. The approach has been tested with varied success in a number of countries, but significant uncertainties remain, such as regarding who ‘manages’ it, when and how it should occur, at whose cost, and to where? Drawing upon a case study of managed retreat in New Zealand, this research uncovers intersecting and compounding arenas of uncertainty regarding the approach, responsibilities, legality, funding, politics and logistics of managed retreat. Where uncertainty is present in one domain, it spreads into others creating a cascading series of political, personal and professional risks that impact trust in science and authority and affect people’s lives and risk exposure. In revealing these mutually dependent dimensions of uncertainty, we argue there is merit in refocusing attention away from policy deficits, barrier approaches or technical assessments as a means to provide ‘certainty’, to instead focus on the relations between forms of knowledge and coordinating interactions between the diverse arenas: scientific, governance, financial, political and socio-cultural; otherwise uncertainty can spread like a contagion, making inaction more likely.

Conceptualizing a Resilient Supply Chain for Single-fuel Biomass Power Plant

2018 ◽  
Vol 1 (1) ◽  
pp. 3-14
Author(s):  
Kalyan Bhaskar ◽  
Nikunj Kumar Jain
Keyword(s):  
Climate Change ◽  
Supply Chain ◽  
Power Plant ◽  
Power Plants ◽  
Climate Change Impacts ◽  
Past Research ◽  
Underground Water ◽  
Financing Policy ◽  
Biomass Power Plant ◽  
Biomass Power Plants

India is taking several steps to decarbonize electricity as part of the climate change mitigation efforts. One of those steps has been to promote electricity generation from biomass. Past research has focused on risks related to technology, cost, financing, policy, and supply chain in case of biomass power, but there have been limited studies on risks arising due to climate change. Climate change can have major implications for the supply chain of biomass power plants by affecting the underground water availability and land productivity and thereby affecting the availability of biomass for power plants. The effect could be more acute for single-fuel biomass power plants rather than for multi-fuel biomass power plants. Using data from an 8 megawatt (MW) biomass power plant and by developing a conceptual model, this article models risks arising due to climate change and assesses their likely impact on single-fuel biomass power plants. Two key insights emerge from the analysis: (a) A supply chain that is not sustainable and resilient to climate change impacts poses a major risk to the profits of a biomass power plant; and (b) Single-fuel biomass power plants may need to change their businesses and sourcing strategies by either turning into multi-fuel biomass power plant or by increasing the catchment area of their sourcing.

Measuring the level of corporate commitment regarding climate change strategies

2017 ◽  
Vol 9 (5) ◽  
pp. 626-644 ◽  
Author(s):  
Iordanis Eleftheriadis ◽  
Evgenia Anagnostopoulou
Keyword(s):  
Climate Change ◽  
Risk Management ◽  
Content Analysis ◽  
Change Strategies ◽  
Climate Change Risk ◽  
Content Type ◽  
Carbon Reduction ◽  
Corporate Commitment ◽  
Management Commitment ◽  
Top Management Commitment

Purpose This study aims to examine the various climate change practices adopted by firms and develop a set of corporate indexes that measure the level of climate change corporate commitment, climate change risk management integration and climate change strategies adoption. Moreover, this study examines the relationship between the aforementioned indexes. The authors claim that there is a positive relationship between the adoption of climate change strategies, corporate commitment and risk management integration. The aforementioned indexes have been used to assess the largest companies in the oil and gas sectors. Design/methodology/approach To assess this study’s sample companies, a content analysis of their carbon disclosure project (CDP) reports for the years 2012-2015 was conducted. Finally, weights were assigned to the content analysis data based on the results of a survey regarding the difficulty of implementing each climate change practice included in the respective index. The survey sample included climate change experts who are either currently employed in companies that are included in the Financial Times Global 500 (FT 500) list, or work as external partners with these companies. Findings The present study results highlight the need for developing elaborate corporate indexes, as the various climate change practices have different degrees of difficulty regarding their implementation. Additionally, a general trend in adopting climate change strategies is observed, especially in the field of carbon reduction strategies, which mainly involve the implementation of low carbon technologies. Finally, a positive and significant relationship was found between carbon reduction targets, risk management integration and climate change strategies. Practical implications Although international research has extensively examined the importance of managers’ perceptions on environmental issues as an enabling factor in developing environmental strategies, according to the results of our survey, corporations must go beyond top management commitment towards climate change to be able to successfully implement climate change strategies. Incorporation of climate change risk management procedures into a company’s core business activities as well as the establishment of precise carbon reduction targets can provide the basis on which successful climate change strategies are implemented. Originality/value Most studies address the issue of climate change management in terms of environmental or sustainability management. Furthermore, research on climate change and its relationship with business management is mainly theoretical, and climate change corporate performance is measured with aggregate indexes. This study focuses on climate change which is examined from a five-dimensional perspective: top management commitment, carbon reduction targets, risk management integration, carbon reduction and carbon compensation strategies. This allows us to conduct an in-depth analysis of the various climate change practices of firms.

scholarly journals Modeling the Impacts of Corporate Commitment on Climate Change

2011 ◽  
Vol 21 (8) ◽  
pp. 495-516 ◽  
Author(s):  
Olivier Boiral ◽  
Jean-François Henri ◽  
David Talbot
Keyword(s):  
Climate Change ◽  
Corporate Commitment

scholarly journals The Global Adaptation Mapping Initiative (GAMI): Part 2 – Screening protocol

2021 ◽  
Author(s):  
A. Paige Fischer ◽  
Max Callaghan ◽  
Lea Berrang-Ford ◽  
Miriam Nielsen ◽  
Garry Sotnik ◽  
...  
Keyword(s):  
Climate Change ◽  
Scientific Literature ◽  
Global Climate ◽  
Expert Elicitation ◽  
Risk Exposure ◽  
Human Adaptation ◽  
Natural Systems ◽  
Vulnerability To Climate Change ◽  
Screening Protocol ◽  
Reduce Risk

Abstract Context: It is now widely accepted that the climate is changing, and that societal response will need to be rapid and comprehensive to prevent the most severe impacts. A key milestone in global climate governance is to assess progress on adaptation. To-date, however, there has been negligible robust, systematic synthesis of progress on adaptation or adaptation-relevant responses globally. Aim: The purpose of this review protocol is to outline the methods used by the Global Adaptation Mapping Initiative (GAMI) to systematically review human adaptation responses to climate-related changes that have been documented globally since 2013 in the scientific literature. The broad question underpinning this review is: Are we adapting to climate change? More specifically, we ask ‘what is the evidence relating to human adaptation-related responses that can (or are) directly reducing risk, exposure, and/or vulnerability to climate change?’ Methods: We review scientific literature 2013-2019 to identify documents empirically reporting on observed adaptation-related responses to climate change in human systems that can directly reduce risk. We exclude non-empirical (theoretical & conceptual) literature and adaptation in natural systems that occurs without human intervention. Included documents were coded across a set of questions focused on: Who is responding? What responses are documented? What is the extent of the adaptation-related response? What is the evidence that adaptation-related responses reduce risk, exposure and/or vulnerability? Once articles are coded, we conduct a quality appraisal of the coding and develop ‘evidence packages’ for regions and sectors. We supplement this systematic mapping with an expert elicitation exercise, undertaken to assess bias and validity of insights from included/coded literature vis a vis perceptions of real-world adaptation for global regions and sectors, with associated confidence assessments. Related protocols: This protocol represents Part 2 of a 5-part series outlining the phases of methods for this initiative. Part 2 outlines the methods used to conduct keyword searches and implement machine-assisted screening of documents based on inclusion and exclusion criteria. See Figures 1 and 2.

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