Private climate change reporting: an emerging discourse of risk and opportunity?

Purpose – This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one-on-one meetings between institutional investors and their investee companies. Design/methodology/approach – Semi-structured interviews were conducted with representatives from 20 UK investment institutions to derive data which was then coded and analysed, in order to derive a picture of the emerging discourse of private climate change reporting, using an interpretive methodological approach, in addition to explorative analysis using NVivo software. Findings – The authors find that private climate change reporting is dominated by a discourse of risk and risk management. This emerging risk discourse derives from institutional investors' belief that climate change represents a material risk, that it is the most salient sustainability issue, and that their clients require them to manage climate change-related risk within their portfolio investment. It is found that institutional investors are using the private reporting process to compensate for the acknowledged inadequacies of public climate change reporting. Contrary to evidence indicating corporate capture of public sustainability reporting, these findings suggest that the emerging private climate change reporting discourse is being captured by the institutional investment community. There is also evidence of an emerging discourse of opportunity in private climate change reporting as the institutional investors are increasingly aware of a range of ways in which climate change presents material opportunities for their investee companies to exploit. Lastly, the authors find an absence of any ethical discourse, such that private climate change reporting reinforces rather than challenges the “business case” status quo. Originality/value – Although there is a wealth of sustainability reporting research, there is no academic research on private climate change reporting. This paper attempts to fill this gap by providing rich interview evidence regarding the nature of the emerging private climate change reporting discourse.

The challenges of delivering climate change policy at the sub-national level

It is asserted that sub-national government has a key role in responding to climate change. Drawing on a case study of metropolitan authorities in the English Midlands, this article examines the contribution of local authorities and their partners in delivering climate change targets agreed upon with central government. Rather than achieving fundamental change, actions were hampered by competing priorities, fragmented responsibilities, limited resources and difficulties in measuring outcomes. Nevertheless, in light of public expenditure cuts and the current coalition government's commitment to free councils from central targets, gaining support for local climate change actions will become even more challenging.

Modeling the fiscal impacts caused by climate change

Aim of the paper: The purpose is to gather the practices and to model the impacts of climate change on fiscal spending and revenues, responsibilities and opportunities, balance and debt related to climate change (CC). Methodology of the paper: The methodology will distinguish fiscal cost of mitigation and adaptation, besides direct and indirect costs. It will also introduce cost benefit analyses to evaluate the propensity of policy makers for action or passivity. Several scenarios will be drafted to see the different outcomes. The scenarios shall contain the possible losses in the natural and artificial environment and resources. Impacts on public budget are based on damage of income opportunities and capital/wealth/natural assets. There will be a list of actions when the fiscal correction of market failures will be necessary. Findings: There will be a summary and synthesis of estimation models on CC impacts on public finances, and morals of existing/existed budgeting practices on mitigation. The model will be based on damages (and maybe benefits) from CC, adjusted with probabilities of scenarios and policy making propensity for action. Findings will cover the way of funding of fiscal costs. Practical use, value added: From the synthesis of model, the fiscal cost of mitigation and adaptation can be estimated for any developed, emerging and developing countries. The paper will try to reply, also, for the challenge how to harmonize fiscal and developmental sustainability.

Price of unsustainability. Economic impacts of climate change

Global problems, rapid and massive regional changes in the 21st century call for genuine long-term, awareness, planning and well focused actions from both national governments and international organizations. This book wishes to contribute to building an innovative path of strategic views in handling the diverse challenges, and more emphatically, the economic impacts of climate change. Although the contributors of this volume represent several approaches, they all rely on some common grounds such as the costbenefit analysis of mitigation and adaptation, and on the need to present an in-depth theoretical and practical dimension. The research accounted for in this book tried to integrate and confront various types of economics approaches and methods, as well as knowledge from game theory to country surveys, from agricultural adaptation to weather bonds, from green tax to historical experience of human adaptation. The various themes and points of views do deserve the attention of the serious academic reader interested in the economics of climate change. We hope to enhance the spread of good solutions resulting from world wide disputes and tested strategic decisions. WAKE UP! It is not just the polar bears' habitat that is endangered, but the entire human form of life.

International cooperation against climate change: institutions, policies and their efficiency

In the 20th century nature of the world economy has started to change significantly, and the former state-centric constellation disappeared. Several development factors that induced the change are still active and nowadays we live in a much different world. The world economy consists of transnational networks; these complicated systems have a great impact on the world of states. The transnational actors’ (multinational corporations, non-governmental organizations etc) influence became very essential as they are able to mobilize the society, have high expertise (think tanks), but it is also important to note their financial strength and moral effects (norm entrepreneurs).

Mitigation and adaptation to climate change

Climate change produces significant social and economic impacts in most parts of the world, thus global action is needed to address climate change. In this chapter, the different possibilities of mitigation are explored from different points of view, and analyse the possibilities of adaptation to climate change. First, substantial reduction of GHG emission is needed, on the other hand adaptation action must deal with the inevitable impacts. According to the assessment of the chapter, it is essential that coordinated actions be taken at an EU level. In our argumentation, a macroeconomic model is used for the cost- benefit analysis of GHG gas emissions reduction. The GHG emission structure is analysed on European and global level. Even in the case of a successful mitigation strategy there rest the long-term effects of climate change which will need a coherent adaptation strategy to be dealt with. Although certain adaptation measures already have been taken, these initiatives are still very modest, and insufficient to deal with the economic effects of climate change properly.

Mitigation and Adaptation to Climate Change

Climate change affects both economy and society in several ways throughout the world. Therefore, well-targeted global and regional actions must be taken. In this paper I assess the different options for climate change mitigation policies and analyse the possibilities of adaptation methods. I will focus on three aspects: cost-efficiency, innovation and flexibility.

A climate profile indicator based comparative analysis of climate change scenarios with regard to maize cultures

Using ecological data compiled from scientific literature on pest, pathogen and weed species characteristic in maize cultures in Hungary, we defined monthly climate profile indicators and applied them to complete a comparative analysis of the historical and modelled climate change scenario meteorological data of the city of Debrecen. Our results call attention to a drastic decline of the competitive ability of maize as compared to several C4 and especially C3 plants. According to the stricter scenarios, the frequency of potential pest and pathogen damage emergency situations will grow significantly by the end of the century.

Climate change and freshwater zooplankton: what does it boil down to?

Recently, major advances in the climate–zooplankton interface have been made some of which appeared to receive much attention in a broader audience of ecologists as well. In contrast to the marine realm, however, we still lack a more holistic summary of recent knowledge in freshwater. We discuss climate change-related variation in physical and biological attributes of lakes and running waters, high-order ecological functions, and subsequent alteration in zooplankton abundance, phenology, distribution, body size, community structure, life history parameters, and behavior by focusing on community level responses. The adequacy of large-scale climatic indices in ecology has received considerable support and provided a framework for the interpretation of community and species level responses in freshwater zooplankton. Modeling perspectives deserve particular consideration, since this promising stream of ecology is of particular applicability in climate change research owing to the inherently predictive nature of this field. In the future, ecologists should expand their research on species beyond daphnids, should address questions as to how different intrinsic and extrinsic drivers interact, should move beyond correlative approaches toward more mechanistic explanations, and last but not least, should facilitate transfer of biological data both across space and time.

Climate change and plankton phenology in freshwater: current trends and future commitments

A solid body of empirical, experimental and theoretical evidence accumulated over recent years indicated that freshwater plankton experienced advance in phenology in response to climate change. Despite rapidly growing evidence for phenological changes, we still lack a comprehensive understanding of how climate change alters plankton phenology in freshwater. To overcome current limitations, we need to shed some light on trends and constraints in current research. The goal of this study is to identify current trends and gaps based on analysis of selected papers, by the help of which we can facilitate further advance in the field. We searched the literature for plankton phenology and confined our search to studies where climate change has been proposed to alter plankton phenology and rates of changes were quantified. We did not restrict our search for empirical ontributions; experimental and theoretical studies were considered as well. In the following we discuss the spatio-temporal setting of selected studies, contributions of different taxonomic groups, emerging methodological constraints, measures of phenological trends; and finally give a list of recommendations on how to improve our understanding in the field. The majority of studies were confined to deep lakes with a skewed geographical distribution toward Central Europe, where scientists have long been engaged in limnology. Despite these findings, recent studies suggest that plankton in running waters may experience change in phenology with similar magnitude. Average rate of advancement in phenology of freshwater plankton exceeded those of the marine plankton and the global average. Increasing study duration was not coupled either with increasing contribution of discontinuous data or with increasing rates of phenological changes. Future studies may benefit from i) delivering longterm data across scientific and political boundaries; ii) extending study sites to broader geographical areas with a more explicit consideration of running waters; iii) applying plankton functional groups; iv) increasing the application of satellite data to quantify phytoplankton bloom phenology; v) extending analyses of time series beyond the spring period; vi) using various metrics to quantify variation in phenology; vii) combining empirical, experimental and theoretical approaches; and last but not least viii) paying more attention to emergence dynamics, nonresponding species and trophic mismatch.

Public price of climate change

Aim of the paper: The purpose is to gather the practices and to model the impacts of climate change on fiscal spending and revenues, responsibilities and opportunities, balance and debt related to climate change (CC). Methodology of the paper: The methodology will distinguish fiscal cost of mitigation and adaptation, besides direct and indirect costs. It will also introduce cost benefit analyses to evaluate the propensity of policy makers for action or passivity. Several scenarios will be drafted to see the different outcomes. The scenarios shall contain the possible losses in the natural and artificial environment and resources. Impacts on public budget are based on damage of income opportunities and capital/wealth/natural assets. There will be a list of actions when the fiscal correction of market failures will be necessary. Findings: There will be a summary and synthesis of estimation models on CC impacts on public finances, and morals of existing/existed budgeting practices on mitigation. The model will be based on damages (and maybe benefits) from CC, adjusted with probabilities of sce-narios and policy making propensity for action. Findings will cover the way of funding of fiscal costs. Practical use, value added: From the synthesis of model, the fiscal cost of mitigation and adaptation can be estimated for any developed, emerging and developing countries. The paper will try to reply, also, for the challenge how to harmonize fiscal and developmental sustainability.

Correlations between garden design plant applications and climate change

Possible effects of climate change means great challenges to landscape design professionals in Hungary. Our climate will shift towards the Mediterranean and we have to prepare for this with among others, choosing correctly the plants to be planted. Teaching garden design dendrology has not recognized yet the necessity and urgency of this matter. Quick measures are required due to the long life-time and slow development of woody taxons. This paper presents the double relationship between landscape design and climate change emphasizing the outdoor architectural methods of adjustment. Such techniques recognized abroad are presented like precipitation drainage by vegetation and extensive green roof. Finally the effects of climate change on ornamental plants application are presented together with the associated project started at the Corvinus University of Budapest in 2010.

Changing visual value of deciduous species in the climate change

The article deals with the changing visual value of deciduous species. Due to climate change, the climatic patterns found on the plants’ growing area may change. Therefore, foliage of deciduous trees changes itscolor in the fall season witha different timing and intensity. This shift can modify the functional, ornamental and ecological value of these plants in the fall season, which is of special interest in the context of landscape design. However, this effect of climate change hasn’t been examined in terms of landscape architecture yet.In the article we are looking for deciduous species that can be appropriate subjectsforresearch, we are giving suggestions for choosing the right location for a future research and proposing available resources of satellite images, that can provide the basis for evaluation of leaf coloring. We also review already existing methods for calculating the degree of fall leaf coloring.We propose a novel method of satellite image processing to evaluate the coloring of a stand. Leaf Coloring Index (LCI) shows the leaf color’s relation to the color realms. LCI is appropriate for setting up a phenological model based onclimate data in a future research. Based on future climate models, the change of the examined stand’s visual value can be predicted. The results might affect the future use of plant species in landscape architecture.

A multi-scale assessment of physiological processes in arctic tundra plants under natural and simulated climate change scenarios

Climate warming is predicted to cause an increase in the growing season by as much as 30% for regions of the arctic tundra. This will have a significant effect on the physiological activity of the vascular plant species and the ecosystem as a whole. The need to understand the possible physiological change within this ecosystem is confounded by the fact that research in this extreme environment has been limited to periods when conditions are most favorable, mid June–mid August. This study attempted to develop the most comprehensive understanding to date of the physiological activity of seven tundra plant species in the Alaskan Arctic under natural and lengthened growing season conditions. Four interrelated lines of research, scaling from cellular signals to ecosystem processes, set the foundation for this study. ^ I established an experiment looking at the physiological response of arctic sedges to soil temperature stress with emphasis on the role of the hormone abscisic acid (ABA). A manipulation was also developed where the growing season was lengthened and soils were warmed in an attempt to determine the maximum physiological capacity of these seven vascular species. Additionally, the physiological capacities of four evergreens were tested in the subnivean environment along with the potential role anthocyanins play in their activity. The measurements were scaled up to determine the physiological role of these evergreens in maintaining ecosystem carbon fluxes. ^ These studies determined that soil temperature differentials significantly affect vascular plant physiology. ABA appears to be a physiological modifier that limits stomatal processes when root temperatures are low. Photosynthetic capacity was limited by internal plant physiological mechanisms in the face of a lengthened growing season. Therefore shifts in ecosystem carbon dynamics are driven by changes in species composition and biomass production on a per/unit area basis. These studies also found that changes in soil temperatures will have a greater effect of physiological processes than would the same magnitude of change in air temperature. The subnivean environment exhibits conditions that are favorable for photosynthetic activity in evergreen species. These measurements when scaled to the ecosystem have a significant role in limiting the system's carbon source capacity. ^

Climate Change and Regions at Risk: A Look at Central America

Climate change has been a security issue for mankind since Homo sapiens first emerged on the planet, driving him to find new and better food, water, shelter, and basic resources for survival and the advancement of civilization. Only recently, however, has the rate of climate change coupled with man’s knowledge of his own role in that change accelerated, perhaps profoundly, changing the security paradigm. If we take a ―decades‖ look at the security issue, we see competition for natural resources giving way to Cold War ideological containment and deterrence, itself giving way to non-state terrorism and extremism. While we continue to defend against these threats, we are faced with even greater security challenges that inextricably tie economic, food and human security together and where the flash points may not provide clearly discernable causes, as they will be intrinsically tied to climate change. Several scientific reports have revealed that the modest development gains that can be realized by some regions could be reversed by climate change. This means that climate change is not just a long-term environmental threat as was widely believed, but an economic and developmental disaster that is unfolding. As such, addressing climate change has become central to the development and poverty reduction by the World Bank and other financial institutions. In Latin America, poorer countries and communities, such as those found in Central America, will suffer the hardest because of weaker resilience and greater reliance on climatesensitive sectors such as agriculture. The US should attempt to deliver capability to assist these states to deal with the effects of climate change.