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EGU General Assembly 2024: Physical climate risk, sovereign credit ratings, and the benefits of adaptation

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17/04/2024

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11:25 CEST, 17th April | EGU24, Vienna

Mark Bernhofen presented research on Physical climate risk, sovereign credit ratings, and the benefits of adaptation at the General Assembly 2024 of the European Geosciences Union (EGU).

The study provides new estimates of climate-induced sovereign credit downgrades by combining a sovereign climate risk model developed by Klusak et al. (2023) with models of acute climate risk. The authors focus on countries in south-east Asia and calculate the extreme losses from river floods and tropical cyclones under different future warming scenarios and the implications for sovereign credit risk. They also explore different options to adapt to these risks nationally, their associated costs, and model the risk reduction benefits of their implementation

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