Climate change affects every individual and community across the country, but the extent of these effects varies across regions. More frequent and intense extreme weather and climate-related disasters are expected to continue, creating new risks and worsening existing vulnerabilities in communities.
Witnessing the climate-related disruption in livelihoods and increased financial risks resulting from widespread, rapid, and intensifying climatic change, we expect that providing deeper analytic insights through this dashboard will help policymakers, businesses, and investors to measure and mitigate significant economic and financial costs of climate change and help drive a low-carbon economy.
Climate change is a global challenge with far-reaching implications for our environment, societies, and economies. It is crucial to gain a comprehensive understanding of the changing dynamics and associated risks to develop effective mitigation and adaptation strategies. This project proposal aims to investigate four key hypotheses related to climate change impacts and risks.
Examine the possibility of a positive correlation between annual surface temperature change and the frequency of climate-related disasters, thereby exploring the link between increasing global surface temperatures and the occurrence of droughts and intensified storms.
Investigate the hypothesis that mean sea levels have consistently increased in every region covered by the International Monetary Fund's (IMF) sea level data.
Assess the financial backing put towards the support of a low-carbon economy, as well as the risks associated with climate change that can affect economic growth and financial stability via various indicators such as carbon footprint of bank loans and preparedness of countries for a low-carbon transition. The levels of those indicators are hypothesized to be higher for countries in non-advanced economies due to their higher reliance on carbon-intensive businesses in general.
Explore the impact of natural disasters by investigating natural disasters. Observing if disasters are more costly and impactful over time.
Excess atmospheric CO2 causes a greenhouse effect, leading to rising temperatures, evident in increasing averages. This heightened energy spurs more frequent, destructive storms, notably worsened floods, indicating a continuing pattern. To tackle escalating floods and sea levels, decision-makers must employ these forecasts for effective preparation, including building sea walls and relocation. The warming climate accelerates glacial melt, triggering sea level rises seen since 1992, urging readiness measures. Governments and financial institutions gauge their carbon footprint's environmental impact, highlighting discrepancies between developed and developing nations. As climate-related disasters affect populous areas, their recurrence incurs mounting human and financial tolls, prompting smarter funding allocation for preparedness and adaptation.