Methodological Approaches to Assessing Possible Damage to Economic Systems from Climate Change

B. N. Porfiriev (), E. M. Akent’eva, D. O. Eliseev and E. I. Khlebnikova
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B. N. Porfiriev: Institute of Economic Forecasting, Russian Academy of Sciences
E. M. Akent’eva: A.I. Voeikov Main Geophysical Observatory, Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet)
D. O. Eliseev: Institute of Economic Forecasting, Russian Academy of Sciences
E. I. Khlebnikova: A.I. Voeikov Main Geophysical Observatory, Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet)

Studies on Russian Economic Development, 2024, vol. 35, issue 1, 44-53

Abstract: Abstract— The concepts’ glossary, criteria, and parameters for compiling the list of climatically vulnerable objects in Russia are substantiated. The original methodology for assessing possible damage to these facilities from climate change and its impact is presented, including key limitations, stages, and calculation technique. The methodolog’s specificity involves an integrated approach that takes into account regional characteristics of climate impact precipitating the degrees of exposure and sensitivity of the facilities above that determine the amount the of climate risk. The experts’ assessment based on scaling the existing and expected value of risk as well as the level of adaptation capacity of the facilities provides for calculating the degree of their vulnerability to climate impact. Finally, using the variable of total (book and replacement) value of assets the amount of possible damage could be obtained.

Keywords: climate change; exposure; sensitivity; vulnerability; climatically vulnerable objects; direct and indirect damage (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1134/S1075700724010143

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