The risk of climate ruin

Oliver Bettis, Simon Dietz and Nick Silver

No 217, GRI Working Papers from Grantham Research Institute on Climate Change and the Environment

Abstract: How large a risk is society prepared to run with the climate system? One perspective on this is to compare the risk that the world is running with the climate system, defined in terms of the risk of ‘climate ruin’, with the comparable risk that financial institutions, in particular insurance companies, are prepared or allowed to run with their own financial ruin. We conclude that, in terms of greenhouse gas emissions today and in the future, the world is running a higher risk with the climate system than financial institutions, in particular insurance companies, would usually run with their own solvency.

Date: 2015-11
New Economics Papers: this item is included in nep-ene, nep-env and nep-rmg
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