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Quantitative use of climate change scenarios to understand the economic impact of climate change-induced natural disasters and the transition to a carbon-free society, as various efforts are underway toward a global transition to a carbon-free society. The need for measurement and stress testing is increasing. The Climate Change Scenario Phase II announced this year by NGFS (Climate Change Risk Network) with the participation of central banks and financial supervisory authorities is expected to become a global common measure.
• Background of risk scenarios that take into account Moody's Analytics climate change based on NGFS Phase II scenarios
• Climate change scenario construction process
• Ripple channel of the impact of climate change on the economy
• Simulation example using Scenario Studio (an economic scenario creation tool that includes a global macro model of Moody's Analytics)
Senior economist, Moody's Analytics Japan