The United Nations Environment Programme (UNEP) defines environmental refugees as 'those people who have been forced to leave their traditional habitat, temporarily or permanently, because of a marked environmental disruption (natural and/or triggered by people) that jeopardized their existence...

Relying on a standard formulation of dynamic models of pollution abatement, we propose a competition among countries committed to maximize their respective welfare without any form of agreement. When there exists a threshold level for the stock of pollution above which a catastrophe occurs, it...

This paper explores some implications of climate change for fiscal policies by assessing the impact of extreme weather events on public budgets. It presents selected case studies on the basis of available data for extreme weather events in the EU and the US that have occurred since 1990. We...

The IASB and FASB propose new contingency loss recognition, measurement, and disclosure rules (A case). The B and C cases apply these proposals to British Petroleum's Mexican Gulf oil spill and Union Carbide's Bhophal gas discharge.Learning Objective: Explore FASB and IASB proposals to change...

The BP Deepwater Horizon drilling rig exploded on April 20, 2010, leading to an unprecedented environmental and financial disaster. This paper details responses in the financial markets for BP securities, including stock, bonds, options, and credit default swaps. Following the disaster BP shares...

This article addresses the means of punishing conduct that causes serious environmental harm like the Exxon Valdez oil spill. In particular, it considers the appropriateness and effectiveness of both punitive damages and criminal sanctions as remedies in such cases in light of the U.S. Supreme...

The recapitalization and consolidation of the Insurance Industry have brought into the capital market forces of change, to both sectors which are good for the development of the sectors. Such ventures suggest that insurers, reinsurers and intermediaries are all in stronger position to deal with...