WEATHER RISKS AND ASSOCIATED ASSET CLASSES

Richard Sandor, Murali Kanakasabai, Rafael Marques and Nathan Clark

Chapter 11 in Sustainable Investing and Environmental Markets:Opportunities in a New Asset Class, 2014, pp 311-341 from World Scientific Publishing Co. Pte. Ltd.

Abstract: On 29 October 2012 just Northeast of Atlantic City, New Jersey, Hurricane Sandy made landfall. “Superstorm Sandy” as it became known, delivered hurricane-force winds, and widespread flooding through a storm which surged across the eastern seaboard; the likes of which had not been experienced since the Great New England Hurricane of 1938. As a result, insured losses — primarily in the U.S. but stretching from Jamaica to Canada and most points in between — totaled $30 billion with uninsured losses totaling $35 billion. A total of 210 people lost their lives. Unfortunately, this is not an isolated incident but rather a continuation in greater damages resulting from catastrophic events…

Keywords: Environment; Emissions; Trading; Finance; Derivatives; Water; Energy; Carbon; Catastrophe; Weather; Sustainability; Fisheries; Greenhouse Gases; Sulfur Dioxide; Acid Rain; Clean Energy Markets (search for similar items in EconPapers)
Date: 2014
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