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Book Water Risk and Its Impact on the Financial Markets and Society

Download or read book Water Risk and Its Impact on the Financial Markets and Society written by Thomas Walker and published by Springer Nature. This book was released on 2021-08-20 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Water risks, including the lack of access to fresh water for personal and industrial use, droughts, floods, and water contamination, are problems that are not new, yet, they are amplifying in the face of climate change, population growth, and rapid economic development. Properly identifying, measuring, and managing these risks as well as taking advantage of related mitigation opportunities is essential for the future well-being of firms across various industries, investors who invest in these firms, local and federal governments, and ultimately our society as a whole. This edited book sheds light on this topic by examining the unique measurement and modelling challenges associated with either the scarcity or overabundance of water and their interaction with finance and society. Specifically, it explores approaches to assess and operationalize water risk, examines the vulnerability of institutions and markets, and discusses strategies for risk mitigation.

Book Water Risk and Its Impact on the Financial Markets and Society

Download or read book Water Risk and Its Impact on the Financial Markets and Society written by Thomas Walker and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Water risks, including the lack of access to fresh water for personal and industrial use, droughts, floods, and water contamination, are problems that are not new, yet, they are amplifying in the face of climate change, population growth, and rapid economic development. Properly identifying, measuring, and managing these risks as well as taking advantage of related mitigation opportunities is essential for the future well-being of firms across various industries, investors who invest in these firms, local and federal governments, and ultimately our society as a whole. This edited book sheds light on this topic by examining the unique measurement and modelling challenges associated with either the scarcity or overabundance of water and their interaction with finance and society. Specifically, it explores approaches to assess and operationalize water risk, examines the vulnerability of institutions and markets, and discusses strategies for risk mitigation. Thomas Walker is Professor of Finance and Concordia University Research Chair in Emerging Risk Management at Concordia University, Montreal, Canada. Prior to academia, he worked for several years in the German consulting and industrial sector at Mercedes Benz, Utility Consultants International, Lahmeyer International, Telenet, and KPMG Peat Marwick. Dieter Gramlich is Professor of Banking & Finance at DHBW - Baden-Wuerttemberg Cooperative State University in Heidenheim, Germany, where he serves as Head of the Banking Department. He previously studied at the University of Mannheim and was an interim professor and Chair of Banking and Finance at the University of Halle in Germany. Kalima Vico is a research associate at the Emerging Risks Information Centre (ERIC) at Concordia University, Montreal, Canada. She previously worked for Concordia's David O'Brien Centre for Sustainable Enterprise. Adèle Dumont-Bergeron is an MA student in English literature and creative writing at Concordia University, Montreal, Canada. She currently serves as a research associate at the Emerging Risks Information Centre.

Book Water Risk Modeling

Download or read book Water Risk Modeling written by Dieter Gramlich and published by Springer Nature. This book was released on 2023-02-17 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on the topic of financial water risk by examining the modeling challenges associated with physical, regulatory, and reputational water risk in finance. It explores various approaches to operationalize water risk from a financial analysis, investment management, and climate science perspective. The analysis of tools to assess water risk provides the basis for the development of appropriate risk-return management techniques in finance and beyond. This book provides new insights by focusing on financial water threats and their related opportunities. It will be of interest to both academics and practitioners who work at the interface of finance, economics, nature, and society.

Book Managing Climate Risk in the U S  Financial System

Download or read book Managing Climate Risk in the U S Financial System written by Leonardo Martinez-Diaz and published by U.S. Commodity Futures Trading Commission . This book was released on 2020-09-09 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742

Book Bridging Physical and Financial Business Water Risk

Download or read book Bridging Physical and Financial Business Water Risk written by Peter Adriaens and published by . This book was released on 2014 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of water as a constrained resource for business operations is becoming part of the investor discourse on equity water risk. A key challenge is the absence of metrics that relate physical risk to financial risk, either at the company or at the portfolio level, resulting in the lack of asset risk pricing. Our research tests the hypothesis that water risk impacts revenue and the cost of doing business and, by inference stock volatility, unless the company manages its risk appropriately. We related stock volatility metrics and water risk exposures of four electric utilities during a two-year period (2007-2008) that captured multiple drought events, commodity (coal) price fluctuations, and systemic risk in the financial markets. Using waterBeta and waterVaR metrics, the impact of water risk on stock volatility (VaR) was highly dependent on the value chain position of the firm, the capital efficiency of water, and stock elasticity. WaterVaR values range from $5M for the Southern Company to $167M for AES. The use of financial risk metrics for water can improve decisions for asset allocation to reduce water risk exposure in portfolios, including stranded assets.

Book OECD Sovereign Borrowing Outlook 2021

Download or read book OECD Sovereign Borrowing Outlook 2021 written by OECD and published by OECD Publishing. This book was released on 2021-05-20 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.

Book A Capital Markets Based Water Risk Assessment of Key Industrial Water Users in the Great Lakes Region

Download or read book A Capital Markets Based Water Risk Assessment of Key Industrial Water Users in the Great Lakes Region written by Anthony Arnold and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project explores capital markets risk exposure from water use in key industrial sectors in the Great Lakes region, represented by a subset of the region's largest companies and water users. The largest industrial water users in the Great Lakes region include (in decreasing order): thermoelectric, industrial, domestic/public supply, and commercial sectors. It is salient to make the distinction between water withdrawal and consumptive use, whereby the former is largely returned to the source reservoir after use in business operations, and the latter is removed from available supplies.Industry-specific water risks can be viewed through several lenses: watershed stewardship, impact of water as a natural resource constraint on corporate operations, and risk pricing of water in the capital markets as a result of curtailed operations and growth. The approach taken here builds on portfolio theory by integrating share price trends, with corporate accounting and voluntary disclosure data to extract a share price volatility risk metric - waterBeta - reflective of water and weather risk. The approach leverages signal processing waterBeta algorithms developed by Equarius Risk Analytics, a fintech firm, which prices water/weather risk directly into share price volatility, as a risk premium. The signal is derived from value-at-risk (VaR) models, which captures the short term 'tail' of extreme market volatility risks in share price behavior relative to industry and sector-specific benchmarks. Simply put, a higher waterBeta means a company is more prone to capital market volatility as a result of climate risks. Our results indicate that, by comparing nine companies across four industry sectors, the waterBeta signal is lowest for utilities, followed by health care, consumer discretionary, and industrials. Companies with high waterBeta tend to exhibit a higher degree of tail risk volatility in their short term share price, have a high percentage of facilities operating in water stressed regions, and exhibit low water intensities (WI). Interestingly, these same high waterBeta companies also tend to have high fixed asset turnover ratios, indicating high waterBeta companies are more dependent on fixed assets. Conversely, low waterBeta companies exhibit low VaR, high water intensities and a high percent of facilities in water stressed locations. However, these companies have low fixed asset turnover ratios, and are thus inefficient at generating revenue from fixed assets. Even though our subset of companies was too small for sector-wide generalizations, it appears that when an entity has higher fixed asset turnover ratios, even small changes in water intensity or exposure to high water risk areas can have a significant impact on waterBeta. This is the case with Archer Daniels Midland (ADM). However, the opposite trend can be observed, and is exemplified by the thermoelectric companies, which are the most inefficient at generating revenue from fixed assets and have the highest WI but exhibit the lowest waterBeta values. This is largely due to the fact that thermoelectric plants/companies rely almost exclusively on surface water sources, such as the Great Lakes, and tend to have corporate/industry wide water risk management strategies in place, given their high dependency on water. It should be noted that this capital markets risk at this time provides limited feedback to the companies on how to address this volatility, given that the model is multiparametric. Addressing water intensity (how much water a company uses to generate revenue) only has impact if its efficiency to generate revenue from its physical assets can be addressed. We are currently identifying factors that enable more targeted corporate risk management actions. As noted, the sample in this study was small and regionally focused. Broader universes of companies across multiple sectors such as represented in the '500' index will serve to develop imputation and learning models to scale capital markets-based water risk observations.

Book The Municipal Bond Market and Water Utilities

Download or read book The Municipal Bond Market and Water Utilities written by Erika May Smull and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The majority of medium- to large-sized municipal water utilities in the United States rely on the 4 trillion USD municipal bond market to finance all or a portion of their operations, maintenance, and capital improvements. Despite the scale and power of the bond market in setting the guardrails for water utilities and local government services, there are limited studies that center municipal bonds in local water management. This dissertation analyzes how the municipal bond market drives and responds to municipal characteristics as expressed through water utility finance. Through empirical, heuristic, and statistical methods, I show that 1) utilities servicing distressed communities are trading off financial risk for affordability risk, 2) nonpayment is only material for water utility finance if nonpayment elasticity exists, and 3) the bond market does not price physical climate risk but does apply a racial yield penalty. The findings have implications for the management of local water utilities as well as broader implications for how infrastructure finance intersects with water management across the U.S.

Book Water Stewardship and Business Value

Download or read book Water Stewardship and Business Value written by William Sarni and published by Routledge. This book was released on 2018-04-09 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tangible value of increased water efficiency, reuse and recycling and improved social license to operate are moving more companies to adopt water stewardship strategies. This book frames an expanded strategy for water stewardship and business value creation, including brand value, that benefits a range of stakeholders including consumers, customers, investors and employees. The book shows that until recently the linkage between full business value and water stewardship has been missing from the corporate agenda. This linkage and value creation from a leading water strategy is increasingly important to socially responsible investors and "aspirationals" who value companies that have a social mission or focus to their overall business strategy. In general the largest portion of a company’s market capitalization is intangible value and understanding how a water strategy contributes to this intangible value is essential. The authors include cases studies and a framework or path forward to guide companies as they seek to build leading water strategy that goes beyond water stewardship to drive full business value from this investment. The book establishes the linkages and value from an integrated water and business strategy and an approach for companies to follow.

Book The Ripple Effect

Download or read book The Ripple Effect written by Sharlene Leurig and published by . This book was released on 2010 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book OECD Studies on Water Water Security for Better Lives

Download or read book OECD Studies on Water Water Security for Better Lives written by OECD and published by OECD Publishing. This book was released on 2013-09-02 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the critical issues surrounding water security (water shortage, water excess, inadequate water quality, the resilience of freshwater systems), providing a rationale for a risk-based approach and the management of trade-offs between water and other policies.

Book Water Supply and Water Scarcity

Download or read book Water Supply and Water Scarcity written by Vasileios A. Tzanakakis and published by MDPI. This book was released on 2020-11-04 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Book includes selected papers that has been published in the Water journal Special Issue (SI) on Water Supply and Water Scarcity. Moreover, an overview of the SI is included. The papers selected for publication in the SI include review and research papers on water history, on water management issues under water scarcity regimes, on rainwater harvesting, on water quality and degradation, and on climatic variability impacts on water resources. Overall, the issue identify and highlight the main challenges in water sector, and particularly in management and protection of water resources and in use of alternative (non-conventional) water resources, especially in areas with demographic change and climate vulnerability in order to achieve sustainable and secure water supply. Furthermore, general guidelines and possible solutions for an improved and sophisticated water management system are proposed and discussed, such as the adoption of advanced technological solutions and practices that improve water-use efficiency and the use of alternative water resources, to address the growing environmental and health issues and to reduce the emerging conflicts among water users.

Book The Oxford Handbook of Food  Water and Society

Download or read book The Oxford Handbook of Food Water and Society written by Tony Allan and published by Oxford University Press. This book was released on 2019-09-27 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Food, water and society: what is managed by whom, and with what impacts? Our food supply chains are at risk. Water resources--sometimes scarce, often damaged, and always under-valued--are among the major reasons why food and water security rank high every year in the World Economic Forum's major global risk analysis. A stable and sustainable food system is critical to society's survival. This Handbook shows that keeping the food system stable comes at the expense of the environment, especially of water resources and those who consume and manage them. The way the food system operates reflects hard political realities. Rather than pay for the environmental costs of sustainable production, society expects food at ever lower prices. Governments reflect their electorates in this regard. Given that farm production may account for as little as 10% of the food value chain in wealthy economies, it is striking that governments have been unwilling (or unable) to put in place the essential laws and accountability that would enable famers to ensure both production and stewardship. Corporate food traders, food manufacturers, and retailers on the other hand operate in markets that make profits and pay taxes. But these corporations are not contractually bound to utilize highly nutritious, sustainably produced food commodities. The articles in this Oxford Handbook have been written by water and food system scientists and professionals, including farmers, rarely heard voices who understand the problems of food producers, food manufacturers, and regulating markets and public policy. The articles address the blind spots of society and its public policymakers, demonstrating the importance of informing society about the consequences of its food preferences and the heroic challenges it is beginning to face. The damage we are doing to our water and soil ecosystems is as important as the damage we do to the atmosphere. Impressed by the technical and organizational advances of the past two centuries, the contributors featured in this book also take note of where economic inefficiencies and cultural deadlock in a 4,000 year old system are putting our critical food supply chains at risk.

Book Global Handbook of Impact Investing

Download or read book Global Handbook of Impact Investing written by Elsa De Morais Sarmento and published by John Wiley & Sons. This book was released on 2020-12-30 with total page 1331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover how to invest your capital to achieve a powerful, lasting impact on the world. The Global Handbook of Impact Investing: Solving Global Problems Via Smarter Capital Markets Towards A More Sustainable Society is an insightful guide to the growing world-wide movement of Impact Investing. Impact investors seek to realize lasting, beneficial improvements in society by allocating capital to sources of impactful and sustainable profit. This Handbook is a how-to guide for institutional investors, including family offices, foundations, endowments, governments, and international organizations, as well as academics, students, and everyday investors globally. The Handbook´s wide-ranging contributions from around the world make a powerful case for positive impact and profit to fund substantive, lasting solutions that solve critical problems across the world. Edited by two experienced and distinguished professionals in the sustainable investing arena and authored by two dozen renowned experts from finance, academia, and multilateral organizations from around the world, the Global Handbook of Impact Investing educates, inspires, and spurs action towards more responsible investing across all asset classes, resulting in smarter capital markets, including how to: · Realize positive impact and profit · Integrate impact into investment decision-making and portfolio · Allocate impactful investments across all asset classes · Apply unique Impact Investing frameworks · Measure, evaluate and report on impact · Learn from case examples around the globe · Pursue Best Practices in Impact Investing and impact reporting While other resources may take a local or limited approach to the subject, this Handbook gathers global knowledge and results from public and private institutions spanning five continents. The authors also make a powerful case for the ability of Impact Investing to lead to substantive and lasting change that addresses critical problems across the world.

Book Handbook of Food Security and Society

Download or read book Handbook of Food Security and Society written by Martin Caraher and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: Events such as the COVID-19 pandemic and the war in Ukraine have drawn the subject of food security firmly into the public eye. This timely Handbook examines and responds to this pertinent topic, offering calculated solutions to food insecurity. Exploring an international range of perspectives surrounding food security, it illustrates clear links between food and broader social welfare policy and economic determinants.

Book Review of the Draft Fourth National Climate Assessment

Download or read book Review of the Draft Fourth National Climate Assessment written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-06-18 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change poses many challenges that affect society and the natural world. With these challenges, however, come opportunities to respond. By taking steps to adapt to and mitigate climate change, the risks to society and the impacts of continued climate change can be lessened. The National Climate Assessment, coordinated by the U.S. Global Change Research Program, is a mandated report intended to inform response decisions. Required to be developed every four years, these reports provide the most comprehensive and up-to-date evaluation of climate change impacts available for the United States, making them a unique and important climate change document. The draft Fourth National Climate Assessment (NCA4) report reviewed here addresses a wide range of topics of high importance to the United States and society more broadly, extending from human health and community well-being, to the built environment, to businesses and economies, to ecosystems and natural resources. This report evaluates the draft NCA4 to determine if it meets the requirements of the federal mandate, whether it provides accurate information grounded in the scientific literature, and whether it effectively communicates climate science, impacts, and responses for general audiences including the public, decision makers, and other stakeholders.

Book Research Anthology on Environmental and Societal Impacts of Climate Change

Download or read book Research Anthology on Environmental and Societal Impacts of Climate Change written by Management Association, Information Resources and published by IGI Global. This book was released on 2021-10-29 with total page 2064 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change is an issue that has been generating a significant amount of discussion, research, and debate in recent years. Climate change continues to evolve at a rapid rate and continues to have a wide array of effects on everything from temperature to plant life. Beyond the negative environmental impacts, climate change is also proving to be a detriment to society with increasingly violent natural disasters and human health effects. It is essential to stay up to date on the latest in emerging research within this field as it continues to develop. The Research Anthology on Environmental and Societal Impacts of Climate Change discusses the varied effects of climate change throughout all areas of life and provides a comprehensive dive into the latest research on key elements of society that are affected by the rapidly increasing clime. Covering a range of topics including reproduction, plants and animals, and energy demand, it is ideal for environmentalists, policymakers, environmental engineers, scientists, disaster and crisis management personnel, professionals, government officials, practitioners, upper-level students, and academics interested in emerging research on the numerous impacts of climate change.