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The purpose of this paper is to assess the resilience of tourism businesses in a coastal city in the USA to coastal hazards and severe weather events. The researchers developed a framework for assessing the resilience of coastal tourism businesses and demonstrated the applicability of the framework using the case study of Virginia Beach.

Researchers conducted structured, face-to-face interviews with tourism business owners and managers, using an instrument based on an assessment framework with five components: vulnerability, business planning and operations, preparation and recovery planning, communications and workforce. In total, 32 participants representing 42 businesses in the accommodations, restaurants, retail and activities sectors at the Virginia Beach Oceanfront were interviewed.

Many participants did not feel highly vulnerable due to structural mitigation efforts taken by the city. Larger businesses undertook more strategic planning, preparedness and recovery planning. All businesses had effective ways of communicating with staff and customers, and through membership in local organizations, had access to resources. While not all businesses prioritized training for employees, they recognized the importance of providing support for staff during severe weather events.

As one of the few studies on tourism resilience in the USA, this study highlights the variability of resilience among tourism businesses within a destination.

One of the sectors most affected by the variable weather events caused by climate change and global warming is the aviation sector. Especially in aircraft accidents, weather events increasing with climate change and global warming are effective. The purpose of this study is to determine how much the change in weather conditions caused by global warming and climate changes affect the aircraft in the world between the years 2010 and 2022.

In this study, it was investigated which weather events were more effective in aircraft crashes by determining the rates of air events and aircraft crashes in aircraft crashes with a passenger capacity of 12 or more that occurred between 2010 and 2022.

It is clearly seen that increasing weather conditions with global warming and climate change increase the effect of weather conditions in aircraft crashes.

The difference of this study from other studies is the evaluation of the data of the past 12 years, in which the increasing consequences of global warming and climate change have been felt more. It also reveals the necessity of further research on the effects of weather conditions on aircraft.

This study aims to understand the impact of extreme weather events on fast-moving consumer goods (FMCG) consumption and to examine the role of anticipated product scarcity and FMCG types on such behavior.

This paper conducted five studies, combining archival data analysis with behavioral experiments. The archival data included sales data from a supermarket chain and weather data from the National Weather Service. The experiments were designed to test the effect of extreme weather cues on consumption, the psychological mechanism behind this effect and moderators.

This research found that consumers’ anticipation of extreme weather events significantly increases their consumption of FMCGs. This research further discovered that these behaviors are driven by anticipated product scarcity and moderated by consumers’ altruisms and FMCG types.

Limitations of the research include the reliance on reported sales data and self-reported measures, which could introduce biases. The authors also primarily focused on extreme weather events, leaving other types of disasters unexplored. Furthermore, cultural differences in disaster response might influence results, yet the studies do not fully address these nuances. Despite these limitations, the findings provide critical insights for FMCG retailers and policymakers, suggesting strategies for managing demand surges during disasters. Moreover, understanding consumer behavior under impending disasters could inform intervention strategies, potentially mitigating panic buying and helping ensure equitable resource distribution. Last, these findings encourage further exploration of environmental influences on consumer behavior.

The findings have practical implications for products, brand managers and retailers in managing stock levels and product distribution during disasters. Furthermore, understanding the psychological mechanisms of these behaviors could inform policymakers’ designs of public interventions for equitable resource allocation during extreme weather events.

The research provides significant social implications by highlighting how extreme weather events impact FMCG consumption. This understanding can guide public policymakers in creating efficient disaster management plans. Specifically, anticipating surges in FMCG purchases can inform policies for maintaining price stability and preventing resource shortages, mitigating societal stress during crises. Moreover, these findings encourage public education around responsible purchasing during disasters, potentially reducing panic buying. By collaborating with FMCG manufacturers and retailers, governments can ensure a steady supply of essentials during extreme weather events. Thus, the research can play a crucial role in enhancing societal resilience in the face of impending disasters.

To the best of the authors’ knowledge, this is the first study to integrate the impact of extreme weather events on consumption behavior with the psychological theory of anticipated product scarcity. The unique focus on FMCGs offers a novel perspective on consumer behavior literature.

Using cotton yield, and rainfall data from Tajikistan, the purpose of this paper is to investigate the magnitude of weather induced revenue losses in cotton production. Hereby the authors look at different risk aggregation levels across political regions (meso-level). The authors then design weather index insurance products able to compensate revenue losses identified and analyze their risk reduction potential.

The authors design different weather insurance products based on put-options on a cumulated precipitation index. The insurance products are modeled for different inter-regional and intra-regional risk aggregation and risk coverage scenarios. In this attempt the authors deal with the common problem of developing countries in which yield data is often only available on an aggregate level, and weather data is only accessible for a low number of weather stations.

The authors find that it is feasible to design index-based weather insurance products on the meso-level with a considerable risk reduction potential against weather-induced revenue losses in cotton production. Furthermore, the authors find that risk reduction potential increases on the national level the more subregions are considered for the insurance product design. Moreover, risk reduction potential increases if the index insurance product applied is designed to compensate extreme weather events.

The findings suggest that index-based weather insurance products bear a large risk mitigation potential on an aggregate level. Hence, meso-level insurance should be recognized by institutions with a regional exposure to cost-related weather risks as part of their risk-management strategy.

The authors are the first to investigate the potential of weather index insurance for different risk aggregation levels in developing countries.

The purpose of this paper is to describe the current climate change predictions and the likely consequences for building assets, and therefore the delivery of public services, in the face of extreme weather events. Public sector asset managers need to mitigate and prepare for future events. However, current practice, as illustrated by the literature, shows that little risk assessment is currently undertaken.

This paper is based on a literature review of current climate data and best practice asset management. An extensive survey of public sector asset managers working at senior levels in their organisation was designed and distributed to gather data on the current levels of disaster and business continuity planning. The survey design sought to establish the level of risk assessment across the organisations and the integration of property management into the disaster planning process.

This paper describes the current climate change predictions and the likely consequences for building assets in the face of extreme weather events. It reveals that a significant number of public sector authorities are not preparing integrated disaster management plans nor business continuity plans. There is a need for further research into the impact on assets and the role of the public sector real estate manager in assessing the risks and developing strategies to prepare the organisation and to mitigate the effects of natural disasters and severe weather events.

This research highlights the potential for climate change to threaten property assets and particularly to compromise the delivery of public services in the event of extreme weather events. The paper highlights the need for integrated risk assessment and disaster planning, which incorporates enabling property assets. Public sector asset managers have a vital role to play in undertaking risk assessment and preparing disaster plans. This role is becoming increasingly important as climate change is predicted to have a significant effect on the frequency of extreme weather events and the occurrence of natural disasters.

The purpose of this paper is to describe a risk-based methodology developed to identify the severity of impacts to various types of infrastructure located within the Tennessee State Park system when exposed to extreme weather events. Infrastructure systems, composed of various assets, are central to the economic, environmental and cultural functioning of the society. Understanding the potential impacts to these assets from various threats is fundamental to prudent strategic, operational and financial decision-making. Among infrastructure, systems of interest are those managed and operated by park services. Such systems are particularly exposed to extreme weather, given the recreational activities that they provide.

This paper describes a risk-based methodology developed to identify the severity of impacts to various types of infrastructure located within the Tennessee State Park system when exposed to extreme weather events. It consists of the following steps: identifying extreme weather event types experienced in Tennessee; assessing damage to various types of park system infrastructure caused by these events; and deriving an overall impact score associated with specific types of park system infrastructure when exposed to certain types of extreme weather scenarios.

In applying this methodology, tornadic events were found to be most impactful, whereas drought and heat events had the least effect on park infrastructure. Dining and lodging infrastructure were found to incur the most damage, regardless of the weather event type.

The approach as described in this paper is transferable to other park systems as well as public sector assets in general.

The purpose of this research study is to determine whether flood-damaged residences located in the USA are remaining unrepaired because of the lack of flood insurance coverage. Unrepaired flooded dwellings are subsequently being foreclosed with mortgage-insurance claims being paid to lenders. This paper aims to examine if weather events that cause flooding impact the losses suffered by mortgage insurers and homeowners.

Two fully modified least squares regression models are done using losses experienced by two mortgage insurance companies. The AM Best insurance rating information for a 16-year period or years 2002–2017 is used to study whether the loss ratios experienced by two companies underwriting private mortgage insurance (PMI) are statistically correlated to National Flood Insurance Program (NFIP) claim levels. The assumption is that higher flood insurance claims are a proxy for more severe weather events during a particular year which results in flooding that damage residences.

The NFIP claims coefficient is positive and significant for both companies being examined. This indicates that the more serious the flooding event during a specific year, the higher the losses experienced by the private mortgage insurer. The R² results for the regression models were 0.673–0.695. The income variable has a negative coefficient which was significant. It indicates that falling income lead to rising mortgage insurer losses. The NFIP variable was significant with a positive coefficient.

The mortgage insurance industry is dominated by several companies at any point in time. During the 16-year study period, some companies have become insolvent, merged with other companies or recently started underwriting mortgage insurance. One company was diversified writing multiple lines of property insurance. There were only two insurers with complete financial information for the specified study period.

There are currently five mortgage insurers operating in the USA. A serious flood event could cause the insolvency of some of these companies. This would reduce the competition existing in the default insurance market. The financial markets for real estate loans price mortgages based on the availability and the ability to secure mortgage insurance for high loan-to-value properties. There is federal mortgage insurance available for certain types of residential loans.

There are a limited number of insurers writing flood insurance. These companies can pick or reject dwellings and/or commercial properties to underwrite for insurance. The goal of phasing out insurance through the NFIP may prove impossible to achieve. A flood event without insurance would cause serious financial consequences to property owners, loan delinquencies and could depress the local economy for years. Competition from private mortgage insurers may intensify the adverse selection already being experienced by the NFIP. Private insurers would select the lower risk flood applications leaving the more risky insurance to be covered by the NFIP.

Prior research focused on financial variables impacting PMI and weather factors affecting flood insurance claims. Financial ratios published in the AM Best rating guide for the USA and Canada were used to examine whether or not PMI losses are indirectly affected by flooding events as measured by NFIP variable. Comparing two separate lines of insurance and their impact on each other has not been studied by prior researchers.

Climate change is predicted to have a significant effect on the frequency of extreme weather events and the occurrence of natural disasters. There is a need for facilities managers to mitigate against potential disruption and prepare for future events. Current practice, however, as illustrated by the literature shows that little risk assessment is currently undertaken with few organisations preparing integrated disaster management plans or business continuity plans to help them meet the challenge. This paper aims to describe the current climate change predictions and the likely consequences for building assets in the face of extreme weather events.

The paper was based on literature review of current climate change data and published research and guidance for facilities managers in preparing risk assessment and disaster plans.

The research reveals that there exists a divergence between current scientific data relating to potential effects of climate change on the built environment and the level of disaster planning and organisational resilience to extreme weather events.

The paper provides an overview of the recent changes in disaster occurrence and the potential for increasing climate‐related crisis and disasters which have potential to significantly compromise the ongoing use of an organisation's facilities. The paper concludes that facilities managers need to be proactive in their risk assessment and disaster planning.

The paper highlights the potential for increased climate change‐related natural disasters. Property assets are likely to be significantly impacted and as a consequence facilities disaster plans should address the issue of natural disaster preparedness. Current literature reveals a limited level of disaster planning is occurring.

The paper provides an important link between current climate change predictions, the increasing levels of natural disasters resulting from climate change and the potential for significant disruption to business facilities. The paper builds on earlier research highlighting the potential for climate‐related natural disaster.

The recent meeting of G-20 world leaders, held in New Delhi, in 2023, highlighted that the physical effect of climate change has considerable macro-economic costs at the national and global levels and they have also pledged to accelerate the clean, sustainable and inclusive energy transition along a variety of pathways. Climate change could pose various emerging risks to the firm’s operational and financial activities, specifically for those which are belonging to the energy sector. Thus, this study aims to investigate the impact of climate risks on the financial performance of select energy companies from G-20 countries.

The study considered 48 energy companies from G-20 countries as the sample for the period of 2017 to 2021. To measure the climate change-related physical risks, the study has considered the ND-GAIN climate vulnerability score and the firm’s financial performance has been measured by return on assets, return on equity, return on capital used and price-to-book ratio. To examine the impact of climate risks on the financial performance of the sample companies, the authors have used pooled ordinary least squares (OLS) and fixed/random effect regression analysis and required data diagnosis tests are also performed.

The empirical results suggested that climate risks negatively impacted the financial performance of the sample companies. The market performances of the firms are also being impacted by the physical climate change. The results of panel data regression analysis also confirmed the robustness of the empirical results derived from the pooled OLS analysis suggesting that firms that operated in a less climate-risky country, financially performed better than the firms that operated in a more climate-risky country.

The paper has significant practical implications like it could be helpful for the policymakers, investors, suppliers, researchers and other stakeholders in developing deeper insights about the impact of climate risks on the energy sectors from an international perspective. This study may also help the policymakers in developing policies for the management of climate risk for the energy sector.

This study adds insights to the existing literature in the area of climate risks and firm’s financial performance. Moreover, this may be the first study that attempts to evaluate the impact of climate risks on the financial performance of select energy companies from the G-20’s perspective.