How Climate Change Will Impact Food Production and Financial Institutions
How Climate Change Will Impact Food Production and Financial Institutions University of California San Diego
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Understanding the Systemic Risk of Climate Change
Craig McIntosh, professor of economics at the School of Global Policy and Strategy.
Understanding the systemic risk posed by climate change is especially helpful for policymakers and disaster relief agencies, as climate change has increasingly become a national security threat. To that end, the statistical approach developed in the study could be applied around the globe.
Identifying Vulnerabilities and Building Resilience
According to a study conducted by researchers at the School of Global Policy and Strategy, a statistical approach has been developed to help populations identify their vulnerabilities and build resilience against the economic impacts of climate change. The technique can assist governments in understanding where they are most vulnerable and which institutions they should focus on to enhance their resilience. This approach can be applied globally, aiding governments in comprehending their own climate conditions and determining the most effective strategies for addressing them.
For instance, governments in the Western Pacific region purchase additional food on the global market during El Niño years when their crop productivity is affected. By utilizing the statistical approach outlined in the study, governments worldwide can gain insights into their own climate conditions and determine whether local, regional, or international institutions would be best suited to address them.
Supporting the Loss and Damage Fund
The research conducted by the School of Global Policy and Strategy can also contribute to the development of the loss and damage fund established by the United Nations in 2022. This fund aims to provide compensation to developing nations that have contributed the least to the climate crisis but have been disproportionately affected by devastating floods, droughts, and sea-level rise. The statistical technique developed in the study can assist countries in identifying where investments in resilience would yield the highest returns. Additionally, it can help determine where international reinsurance may be necessary.
The “Empirical Modeling of Agricultural Climate Risk” study was coauthored by Bruno Lopez-Videla, who earned a Ph.D. in economics from UC San Diego in 2021, and Alexandre Gori Maia of the Universidade Estadual de Campinas in Brazil.
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 13: Climate Action
- SDG 16: Peace, Justice, and Strong Institutions
The article discusses the systemic risk posed by climate change and how it is becoming a national security threat. It also mentions the development of a loss and damage fund by the United Nations to compensate developing nations affected by climate-related disasters. These issues align with the goals of SDG 13 and SDG 16.
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning
- SDG 16.7: Ensure responsive, inclusive, participatory, and representative decision-making at all levels
- SDG 16.8: Broaden and strengthen the participation of developing countries in the institutions of global governance
The article highlights the need to identify vulnerabilities and build resilience to climate change, integrate climate change measures into policies, and involve international institutions in addressing climate-related challenges. These targets correspond to SDG 13.1, SDG 13.2, SDG 16.7, and SDG 16.8.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Identification of vulnerable areas and assessment of economic impact
- Understanding the effectiveness of institutions in addressing climate conditions
- Evaluation of the allocation of resources for resilience-building
- Assessment of international reinsurance needs
The article suggests that the statistical approach developed in the study can help identify vulnerable areas, assess economic impacts, evaluate institutional effectiveness, and determine resource allocation for resilience-building. These indicators can be used to measure progress towards the identified targets.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 13: Climate Action | 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters | – Identification of vulnerable areas and assessment of economic impact – Evaluation of resource allocation for resilience-building |
| SDG 16: Peace, Justice, and Strong Institutions | 16.7: Ensure responsive, inclusive, participatory, and representative decision-making at all levels | – Understanding the effectiveness of institutions in addressing climate conditions |
| 16.8: Broaden and strengthen the participation of developing countries in the institutions of global governance | – Assessment of international reinsurance needs |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: today.ucsd.edu
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