Corporate Strategies for Managing Climate Risks

This paper focuses on organizations and their management of climate risks. Climate risks stem from continued changes in climate means and the increase in frequency and intensity of extreme weather events. We ask whether companies also apply the usual process of corporate risk management to climate risks. In seeking to answer this question, we review several literature streams in order to set out an initial theoretical reflection. Based on this we conducted an exploratory case study with 11 electric utilities. Our results illustrate that these companies perceive climatic changes as a material issue for their business. However, management has restricted knowledge about such climatic changes and thus cannot precisely determine the potential negative impacts on business activities. As a consequence, the companies have implemented a climate risk management that does not differ from the usual process of managing other business risks. Our results further illustrate that there is some variation in how individual firms manage climate risks: While risk identification and risk assessment are equally important for all electric utilities, there are differences in how management determines the direction of the individual response to climate risks. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.     

Business Ethics and Accounting Information. An Analysis of the Spanish Code of Best Practice

The main purpose of this article is to analyse one aspect of Spanish business ethics: the role of the transparency and quality of the economic and financial information given to meet the demands and requirements of shareholders. To that end we concentrate firstly on analysing the Spanish capital market and the situation of shareholders prior to the publication in February 1988 of the Code of Best Practice for Spanish Companies, drawn up by a Special Committee created at the request of the Ministry of Economy and Finance. We analyse the importance of the behaviour and actions of three groups which are fundamental to assuring quality and transparency of information: those who prepare financial statements, the Board of Directors (particularly the Audit Committee) and the external auditors. Finally, we look at the possible consequences of the Code of Best Practice on Spanish business ethics.     

气候变化对粮食产量影响的研究方法综述

[目的]受气候变化的影响,全球粮食安全面临严峻挑战,及时准确地评估气候变化对粮食产量的影响是应对挑战、制定农业适应性对策的关键。相关研究已产生了不少方法,通过综述对方法进行分类,明晰各种方法的优缺点和适用性,以期扬长避短,促进研究方法的综合、发展与完善。[方法]利用文献法、归纳法和比较法,从方法的原理和应用、存在的问题、发展的趋势3个方面进行探讨。[结果]产量分解法可用于分析粮食产量及其构成要素与不同生育期气候变化的关系,实验比较法一般用于粮食产量对单个气候因子或若干气候因子变化的敏感性分析,生产函数法适用于在农业生产系统中分析气候变化对粮食产量影响的边际效应,气候生产潜力模型法侧重于农业生产环境发展评估,作物生长模型法便于结合气候情景预测未来气候变化对粮食产量的影响。在不同研究方向上得以运用的同时,各方法也暴露了一些问题:产量分解法的技术产量难以拟合,实验比较法的数据获取难、模型稳定性较差,生产函数法容易遗漏重要变量、函数构造困难,气候生产潜力模型法的结论难以验证,作物生长模型法参数标定难、模型应用存在尺度错位。[结论]研究方法将逐渐形成一套综合的气候—水文—作物—经济模型法,多源数据融合和多目标模式已经成为方法发展的驱动力。     

Global Warming and German Agriculture Impact Estimations Using a Restricted Profit Function

This study uses the concept of shadow prices formeasuring the impacts of climate change. By estimatinga restricted profit function rather than a cost or aproduction function the explanatory power of the modelis increased because of an endogenous outputstructure. Using low aggregated panel data on WesternGerman farmers, the results imply that the agricultural production process is significantly influenced by climate conditions. Simulation results using a 2 ×CO₂ climate scenario show positive impactsfor all regions in Germany. Interestingly, the spatialdistribution of the gains is indicating no advantagefor those regions, which currently suffer frominsufficient temperature. Finally, the importance ofan endogenous output structure is confirmed by thefinding that the desired product mix will drasticallychange.     

Animal foods and climate change: shadowing eating practices

Animal farming exceeds all forms of transport in terms of global greenhouse gas (GHG) emissions. Despite the implications of the seriousness of addressing animal farming in relation to mitigating the effects of GHG emissions, to date, the relationship between consumer behaviour and climate change has tended to neglect the role of animal foods. This paper reports on a pilot study in which six UK households were ‘shadowed’ to facilitate the investigation of the relationship between animal food practices and environmental practices, as they emerge in day‐to‐day life. Results indicate that most participants make no connection between the two issues at present, in terms of awareness or practice. However, animal foods do have an ambiguous and complex status in most participants' food practices; for instance, being viewed as problematic for reasons of health or animal welfare. This finding suggests that further research is needed into the potential for raising awareness of the link between animal‐based foods and climate change. This might have a role to play in shifting food practices towards more plant‐based, less GHG intensive, foods.     

Agricultural disaster payments in the southeastern US: do weather and climate variability matter?

Governments around the world are forced to react to disasters caused by weather. The agricultural sector is particularly susceptible to weather extremes and adverse climate conditions. In the US, agricultural disaster payments account for a significant part of total agricultural subsidies. The payments, and their distribution, are more important in the areas most affected by disastrous weather events, usually coinciding with areas of pronounced impact of the El Nino Southern Oscillation (ENSO). In this article, the impact of weather and climate, as well as some economic variables, on disaster payments is analysed using county level data from four states in the southeastern United States. The results suggest that weather and climate variables explain most of the crop disaster payments at the county level while socioeconomic variables do not, suggesting that advancements in weather and climate forecasts could be helpful in planning for disaster compensation.     

Tourist Perceptions of Climate Change: A Study of International Tourists in Zanzibar

A study was conducted in Zanzibar, Tanzania, in order to understand tourist perceptions of climate change, the importance of climate for travel decisions, and the likely consequences of ongoing climate change for travel decisions. The results show that climatic characteristics of destinations are important, though not the only factor shaping travel decisions. Under a scenario of climate change, certain climate variables, such as more rain, storms, and higher humidity are also likely to negatively influence travel decisions, rather than higher temperatures alone, which are not necessarily perceived as negative. Regarding the contribution of travel to climate change, the study reveals that leisure tourists in Zanzibar are largely unaware of their impact on the natural environment, while the analysis of stated travel behaviour shows that they frequently travel by air. Overall, the results indicate that travel flows might change in more complex ways than currently assumed, and that a small share of high-intensity air travellers is responsible for a considerable environmental impact in terms of climate change.     

气候舒适度对热点城市入境游客时空变化的影响

文章选取东部18个城市分析气候舒适度的年内时空变化,将其年内变化分为3种类型：倒＂U＂形、＂M＂形、宽＂U＂形。收集2005～2007年各城市入境客流量,分析其年内时空变化状况,将其年内变化分为4种类型：＂W＂形、倒＂U＂形、＂M＂形、＂U＂形。年内客流量重心变化与气候舒适度重心变化具有很强的时间同步性,说明气候舒适度是影响客流量空间分布的重要因素。在客流量月指数与气候舒适度指数比较的基础上,建立了入境旅游客流量月指数模拟模型。利用旅游资源丰度、经济发展水平、综合气候舒适指数3个因素,建立其与客流量地域分布的统计关系,结果显示：综合气候舒适度指数每变化1个单位,客流量将增加（或减少）7.659万人。     

Impacts of climate change on lower Murray irrigation*

This article evaluates irrigated agriculture sector response and resultant economic impacts of climate change for a part of the Murray Darling Basin in Australia. A water balance model is used to predict reduced basin inflows for mild, moderate and severe climate change scenarios involving 1, 2 and 4°C warming, and predict 13, 38 and 63% reduced inflows. Impact on irrigated agricultural production and profitability are estimated with a mathematical programming model using a two‐stage approach that simultaneously estimates short and long‐run adjustments. The model accounts for a range of adaptive responses including: deficit irrigation, temporarily following of some areas, permanently reducing the irrigated area and changing the mix of crops. The results suggest that relatively low cost adaptation strategies are available for a moderate reduction in water availability and thus costs of such a reduction are likely to be relatively small. In more severe climate change scenarios greater costs are estimated. Adaptations predicted include a reduction in total area irrigated and investments in efficient irrigation. A shift away from perennial to annual crops is also predicted as the latter can be managed more profitably when water allocations in some years are very low.