Joint Vienna Institute Webinar: Modelling Climate Change

Tuesday, June 29, 2021, at 14:30-16:00 Vienna time (CEST)

The webinar “Climate Webinar #5: Modelling Climate Change” is the fifth event of the JVI webinar series on climate change economics to discuss modelling climate change. The webinar looks at the challenges of modelling the impact of climate change mitigation and adaptation policies and provides an overview of the available techniques together with some specific examples.

Panelists:
Mr. Jean Chateau, Senior Economist, Research Department, International Monetary Fund
Mr. Benjamin Carton, Senior Economist, Research Department, International Monetary Fund
Mr. Thomas Schinko, Research Group Leader of the Equity and Justice Research Group, International Institute for Applied Systems Analysis

Moderator:
Ms. Maria Arakelyan, Economist, Joint Vienna Institute

Climate change and climate policy have the common feature of implying an asymmetric impact on different economic activities, sectors and countries. As a result, climate policy’s impact, while appearing relatively modest on average, may hide large disproportionate effects for specific sectors. This, combined with uneven distribution of natural resources and differing sectoral structures across countries, may result in large differences in the impact of climate policies on the economy as well as international trade patterns. Given this complexity, Jean Chateau and Benjamin Carton will justify the use of large-scale economic models for climate policy analysis in their presentation and will provide some examples.
Different empirical and economic modeling techniques exist for the assessment of climate-related extreme event risk and of adaptation measures to tackle those risks. Thomas Schinko will give an introduction to the concept and relevance of climate-related risk and provide an overview of relevant economic assessment approaches. This will be followed by a presentation of one such technique, that is of particular relevance for mainstreaming climate extreme risk into fiscal and budgetary planning.

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