Economic Impacts of Climate Change
Exploring short-term climate-related shocks with macroeconomic models
To advance financial industry knowledge on this important topic, UNEP FI and UK-based National Institute of Economic and Social Research (NIESR) have partnered to explore short-term climate-related shocks for financial actors with macroeconomic models.
This report features three new climate-driven macroeconomic shock scenarios developed by UNEP FI and NIESR as part of UNEP FI’s Taskforce on Climate-related Financial Disclosures (TCFD) Programme. The three short-term scenarios are: sudden rise in carbon price, spike in oil price, and trade war.