| DOI: | 10.1016/j.crm.2015.02.002
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| Scopus记录号: | 2-s2.0-84928202909
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| 论文题名: | Funding climate adaptation strategies with climate derivatives |
| 作者: | Little L.R.; Hobday A.J.; Parslow J.; Davies C.R.; Grafton R.Q.
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| 刊名: | Climate Risk Management
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| ISSN: | 22120963
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| 出版年: | 2015
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| 卷: | 8 | | 起始页码: | 9
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| 结束页码: | 15
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| 语种: | 英语
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| 英文关键词: | Climate arbitrage
; Option pricing
; Regional climate adaptation
; Stochastic simulation
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| 英文摘要: | Climate adaptation requires large capital investments that could be provided not only by traditional sources like governments and banks, but also by derivatives markets. Such markets would allow two parties with different tolerances and expectations about climate risks to transact for their mutual benefit and, in so doing, finance climate adaptation. Here we calculate the price of a derivative called a European put option, based on future sea surface temperature (SST) in Tasmania, Australia, with an 18. °C strike threshold. This price represents a quantifiable indicator of climate risk, and forms the basis for aquaculture industries exposed to the risk of higher SST to finance adaptation strategies through the sale of derivative contracts. Such contracts provide a real incentive to parties with different climate outlooks, or risk exposure to take a market assessment of climate change. © 2015. |
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| 资源类型: | 期刊论文
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| 标识符: | http://119.78.100.158/handle/2HF3EXSE/59044
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| Appears in Collections: | 气候变化与战略
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作者单位: | CSIRO Oceans and Atmosphere, Hobart, TAS, Australia; Crawford School of Public Policy, The Australian National University, Canberra, ACT, Australia
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| Recommended Citation: | |
Little L.R.,Hobday A.J.,Parslow J.,et al. Funding climate adaptation strategies with climate derivatives[J]. Climate Risk Management,2015-01-01,8
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