The causal relationship between atmospheric CO2 concentrations and global temperature is well established, but the degree of sensitivity of future temperature rise to both existing levels of CO2 and continued carbon emissions is still subject to a high degree of uncertainty. Governments have...

According to the World Economic and Social Survey 2009, the review of available estimates of mitigation and adaptation costs suggests that additional annual total investments in developing countries could be upwards of $1 trillion per year. Given the limited ability of developing countries to...

Natural hazard events in 2010 and 2011 such as the eruption of the volcano Eyjafjallajokull on Iceland, the heatwave in Russia, the extreme floods in northeastern Australia, and more recently the earthquake followed by a tsunami at Fukushima in Japan demonstrated the vulnerability of the...

Due to extreme volatility in the prices of CO2 permits observed in the European markets, effective hedging techniques such as futures contracts and option instruments rapidly developed, together with approximations to the dynamics of the underlying. To bridge the gap between theory and practice,...