Search results

Climate control needs have reached momentum. While scientists call for stabilizing climate and regulators structure climate change mitigation and adaptation efforts around the globe, economists are concerned with finding proper and fair financing mechanisms. In an overlapping-generations framework, Sachs (2014) solves the climate change predicament that seems to pit today’s against future generations. Sachs (2014) proposes that the current generation mitigates climate change financed through bonds to remain financially as well-off as without mitigation while improving environmental well-being of future generations through ensured climate stability. This intergenerational tax-and-transfer policy turns climate change mitigation into a Pareto improving strategy. Sachs’ (2014) discrete model is integrated in contemporary growth and resource theories. The following article analyzes how climate bonds can be phased-in, in a model for a socially optimal solution and a laissez-faire economy. Optimal trajectories are derived partially analytically (e.g., by using the Pontryagin maximum principle to define the optimal equilibrium), partially data driven (e.g., by the use of modern big market data), and partially by using novel cutting-edge methods – for example, nonlinear model predictive control (NMPC), which solves complex dynamic optimization problems with different nonlinearities for infinite and finite decision horizons. NMPC will be programed with terminal condition in order to determine appropriate numeric solutions converging to some optimal equilibria. The analysis tests if the climate change debt adjusted growth model stays within the bounds of a sustainable fiscal policy by employing NMPC, which solves complex dynamic systems with different nonlinearities.

The purpose of this chapter is twofold. First, to give a concise account of the current global climate situation, its previous history according to the palaeoclimate record, and climate scientists’ predictions of the consequences of various scenarios of global climate change. Then to explain why so many people continue to be oblivious to the enormous risks of continuing with business as usual.

The approach is through a comprehensive study of the relevant evidence and the scientific and scholarly literature, interwoven with philosophical reflections on their significance.

The findings are as follows: the evidence for the anthropogenic nature of global warming is overwhelming, and the prognoses for continued burning of fossil fuels (sea level rise, extreme weather, etc.) are dire. The denial stems in large part from the undue influence of climate scepticism movements, lavishly funded by the fossil fuel industries, combined with a variety of psycho-social and economic factors.

The implications are several. Given the complex nature of global warming, scientists need to do a better job of communicating their findings to the general public, and scholars and academics need to find ways to expose the machinations of the fossil fuel industries. And given the global impact of climate change, citizens of the developed nations need to see that a radical change in their behaviour is demanded not only by considerations of social justice but also even by their own self-interest.

The value of this philosophical approach is that it affords a more comprehensive view of the situation around global warming than we get from the more specialised disciplines.

The theory of discounting is based on the assumption that people's observed behavior in markets for savings and investment reveals their subjective preferences regarding trade-offs between present and future economic benefits. A person who borrows money at the annual interest rate r, for example, shows a willingness to pay (1+r)t dollars t years in the future to obtain one dollar in the present. On the other side of this transaction, the lender demands (1+r)t future dollars in exchange for each dollar loaned out today. In the logic of this situation, both borrowers and lenders behave as if one dollar of future currency has a “present value” of just

In this chapter, the author has described the nexus between climate change and the evolution of refugee problems. The concept of climate refugee and the controversy between refugee and climate refugee were extensively elaborated. The estimates of climate refugees under various dimensions in different parts of the world were exemplified with statistical figures. The solutions of the refugee problems, funding, directions of estimates and social responsibilities towards refugees are described in the activities of international institutions like UNHCR, CCDO, UNFCCC, IPCC, the Red Cross and many others. The chapter also highlights some important policy issues such as charters, funds, response strategy to disaster and disaster recovery plans, support capacity building and climate change adaptation and so on and also cited policies taken by the G20 summit to care for refugees. Besides, the recommendations of COP23 were also included. In conclusion, ‘no climate change, no climate refugees’ slogan is incorporated with suggestions of taking care of sizable percentage shares of refugees by the rich nations.

Purpose – Adaptation to climate change requires that the population at risk and decision makers in various sectors become aware of the possible detrimental impacts in order to take whatever action is needed, especially in highly vulnerable countries and regions. In order to assess the climate change and impact awareness in a particularly vulnerable area – the Indian city Hyderabad, located within a semiarid region – we wanted to learn more about the local climate discourse, in particular the daily newspaper coverage of climate change and weather extremes.

Methodology/approach – After having looked at the Indian climate change discourse (CCD) in general, based on literature review, we were studying the local public CCD, based on the in-depth analysis of two English language daily newspapers, and three Telugu (the dominant local language) daily newspapers, covering the period of 2008–2009. This qualitative and quantitative analysis was completed by two expert interviews with local journalists.

Findings – We find that the more recent Indian CCD has shifted if compared to the dominant argumentation pattern of the period before, as reported in other analyses. While the former discourse was characterized by the scheme “the poor/developing countries suffer from anthropogenic climate change caused by the industrialized countries,” the recent Indian CCD has become more differentiated, taking into account both impacts elsewhere, and, most notably, conceding a (limited) responsibility of countries like India. On a local level, while reports on weather extremes are very common, we find that local newspapers of Hyderabad do not provide a link between these extreme events and (global) climate change.

Research limitations – Our discourse analysis could only cover a short time period of a local CCD, leaving open the questions of (a) its further development, and (b) how things might stand in other places in India. Furthermore it would be necessary to complement our study by analyses of the impact of mass media reporting on people's attitudes and behavior.

Originality/value of paper – Given the importance of public participation in adaptation measures, it is crucial to know if and how the wider public and the majority of the nonexpert public administration (which needs to be involved) understands the causes, potential impacts, and possible adaptive action in the face of climate change. This chapter provides a necessary (though not sufficient) element for that assessment. The findings can help to identify weaknesses, and thus to give hints how to improve the adaptive capacity in places like Hyderabad (India).