This Changes Everything: Climate Shocks and Sovereign Bonds

This Changes Everything: Climate Shocks and Sovereign Bonds

Author: Mr.Serhan Cevik

Publisher: International Monetary Fund

Published: 2020-06-05

Total Pages: 24

ISBN-13: 151354621X

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Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change vulnerability and resilience on sovereign bond yields and spreads in 98 advanced and developing countries over the period 1995–2017. We find that the vulnerability and resilience to climate change have a significant impact on the cost government borrowing, after controlling for conventional determinants of sovereign risk. That is, countries that are more resilient to climate change have lower bond yields and spreads relative to countries with greater vulnerability to risks associated with climate change. Furthermore, partitioning the sample into country groups reveals that the magnitude and statistical significance of these effects are much greater in developing countries with weaker capacity to adapt to and mitigate the consequences of climate change.


This Changes Everything

This Changes Everything

Author: Ruth van Gelder

Publisher: Berrett-Koehler Publishers

Published: 2011-12-05

Total Pages: 114

ISBN-13: 1609945891

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We're bombarded by messages telling us that bigger and better things are the keys to happiness—but after we pile up the stuff and pile on the work hours, we end up exhausted and broke on a planet full of trash. Sarah van Gelder and her colleagues at YES! Magazine have been exploring the meaning of real happiness for eighteen years. Here they offer fascinating research, in-depth essays, and compelling personal stories by visionaries such as Annie Leonard, Matthieu Ricard, and Vandana Shiva, showing us that real well-being is found in supportive relationships and thriving communities, opportunities to make a contribution, and the renewal we receive from a thriving natural world. In the pages of this book, you'll find creative and practical ways to cultivate a happiness that is nurturing, enduring, and life affirming.


This Changes Everything

This Changes Everything

Author: Naomi Klein

Publisher: Simon and Schuster

Published: 2014-09-16

Total Pages: 576

ISBN-13: 1451697384

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With strong first-hand reporting and an original, provocative thesis, Naomi Klein returns with this book on how the climate crisis must spur transformational political change


The Shock Doctrine

The Shock Doctrine

Author: Naomi Klein

Publisher: Metropolitan Books

Published: 2010-04-01

Total Pages: 721

ISBN-13: 1429919485

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The bestselling author of No Logo shows how the global "free market" has exploited crises and shock for three decades, from Chile to Iraq In her groundbreaking reporting, Naomi Klein introduced the term "disaster capitalism." Whether covering Baghdad after the U.S. occupation, Sri Lanka in the wake of the tsunami, or New Orleans post-Katrina, she witnessed something remarkably similar. People still reeling from catastrophe were being hit again, this time with economic "shock treatment," losing their land and homes to rapid-fire corporate makeovers. The Shock Doctrine retells the story of the most dominant ideology of our time, Milton Friedman's free market economic revolution. In contrast to the popular myth of this movement's peaceful global victory, Klein shows how it has exploited moments of shock and extreme violence in order to implement its economic policies in so many parts of the world from Latin America and Eastern Europe to South Africa, Russia, and Iraq. At the core of disaster capitalism is the use of cataclysmic events to advance radical privatization combined with the privatization of the disaster response itself. Klein argues that by capitalizing on crises, created by nature or war, the disaster capitalism complex now exists as a booming new economy, and is the violent culmination of a radical economic project that has been incubating for fifty years.


Managing Climate Risk in the U.S. Financial System

Managing Climate Risk in the U.S. Financial System

Author: Leonardo Martinez-Diaz

Publisher: U.S. Commodity Futures Trading Commission

Published: 2020-09-09

Total Pages: 196

ISBN-13: 057874841X

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This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742


Building a Resilient Tomorrow

Building a Resilient Tomorrow

Author: Alice C. Hill

Publisher: Oxford University Press, USA

Published: 2020

Total Pages: 265

ISBN-13: 019090934X

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Even under the most optimistic scenarios, significant global climate change is now inevitable. While squarely confronting the scale of the risks we face, Building a Resilient Tomorrow presents replicable sustainability successes and clear-cut policy recommendations that can improve the climate resilience of communities in the US and beyond.


How to Change Everything

How to Change Everything

Author: Naomi Klein

Publisher: Simon and Schuster

Published: 2021-02-23

Total Pages: 336

ISBN-13: 1534474544

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“[A] uniquely inclusive perspective that will inspire conviction, passion, and action.” —Kirkus Reviews (starred review) An empowering, engaging young readers guide to understanding and battling climate change from the expert and bestselling author of This Changes Everything and On Fire, Naomi Klein. Warmer temperatures. Fires in the Amazon. Superstorms. These are just some of the effects of climate change that we are already experiencing. The good news is that we can all do something about it. A movement is already underway to combat not only the environmental effects of climate change but also to fight for climate justice and make a fair and livable future possible for everyone. And young people are not just part of that movement, they are leading the way. They are showing us that this moment of danger is also a moment of great opportunity—an opportunity to change everything. Full of empowering stories of young leaders all over the world, this information-packed book from award-winning journalist and one of the foremost voices for climate justice, Naomi Klein, offers young readers a comprehensive look at the state of the climate today and how we got here, while also providing the tools they need to join this fight to protect and reshape the planet they will inherit.


Endgame

Endgame

Author: John Mauldin

Publisher: John Wiley & Sons

Published: 2011-03-08

Total Pages: 66

ISBN-13: 1118004574

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Greece isn't the only country drowning in debt. The Debt Supercycle—when the easily managed, decades-long growth of debt results in a massive sovereign debt and credit crisis—is affecting developed countries around the world, including the United States. For these countries, there are only two options, and neither is good—restructure the debt or reduce it through austerity measures. Endgame details the Debt Supercycle and the sovereign debt crisis, and shows that, while there are no good choices, the worst choice would be to ignore the deleveraging resulting from the credit crisis. The book: Reveals why the world economy is in for an extended period of sluggish growth, high unemployment, and volatile markets punctuated by persistent recessions Reviews global markets, trends in population, government policies, and currencies Around the world, countries are faced with difficult choices. Endgame provides a framework for making those choices.


Research Handbook on Climate Change Law and Loss & Damage

Research Handbook on Climate Change Law and Loss & Damage

Author: Doelle, Meinhard

Publisher: Edward Elgar Publishing

Published: 2021-11-17

Total Pages: 480

ISBN-13: 1788974026

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This timely Research Handbook offers an insightful review of how legal systems Ð whether domestic, international or transnational Ð can and should adjust to fairly and effectively support loss and damage (L&D) claims in climate change law.Ê International contributors guide readers through a detailed assessment of the history and current state of L&D provisions under the UN climate regime and consider the opportunities to fund L&D claims both within and outside the UN climate system.Ê


The Nutmeg's Curse

The Nutmeg's Curse

Author: Amitav Ghosh

Publisher: University of Chicago Press

Published: 2022-09-07

Total Pages: 350

ISBN-13: 0226823954

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In this ambitious successor to The Great Derangement, acclaimed writer Amitav Ghosh finds the origins of our contemporary climate crisis in Western colonialism’s violent exploitation of human life and the natural environment. A powerful work of history, essay, testimony, and polemic, Amitav Ghosh’s new book traces our contemporary planetary crisis back to the discovery of the New World and the sea route to the Indian Ocean. The Nutmeg’s Curse argues that the dynamics of climate change today are rooted in a centuries-old geopolitical order constructed by Western colonialism. At the center of Ghosh’s narrative is the now-ubiquitous spice nutmeg. The history of the nutmeg is one of conquest and exploitation—of both human life and the natural environment. In Ghosh’s hands, the story of the nutmeg becomes a parable for our environmental crisis, revealing the ways human history has always been entangled with earthly materials such as spices, tea, sugarcane, opium, and fossil fuels. Our crisis, he shows, is ultimately the result of a mechanistic view of the earth, where nature exists only as a resource for humans to use for our own ends, rather than a force of its own, full of agency and meaning. Writing against the backdrop of the global pandemic and the Black Lives Matter protests, Ghosh frames these historical stories in a way that connects our shared colonial histories with the deep inequality we see around us today. By interweaving discussions on everything from the global history of the oil trade to the migrant crisis and the animist spirituality of Indigenous communities around the world, The Nutmeg’s Curse offers a sharp critique of Western society and speaks to the profoundly remarkable ways in which human history is shaped by non-human forces.