This paper presents a dynamic model of the reinsurance market for catastrophe risks. The model is based on the classical capacity-constraint assumption. Reinsurers choose every year the quantity of risk they cover and the level of external capital they raise to cover these risks. The model...

Green growth is about making growth processes resource-efficient, cleaner and more resilient without necessarily slowing them. This paper aims at clarifying these concepts in an analytical framework and at proposing foundations for green growth. The green growth approach proposed here is based...

Large-scale disasters regularly affect societies over the globe, causing large destruction and damage. After each of these events, media, insurance companies, and international institu-tions publish numerous assessments of the "cost of the disaster." However these assessments are based on...

This paper investigates the land value creation potential from flood mitigation investments in a theoretical and applied setting, using the urban area of Buenos Aires as a case study. It contributes to the literature on the wider economic benefits of government interventions and the dividends of...

To maximize development gains, World Bank projects must consider climate change and disaster risks in their design and appraisal. Buildings could be exposed to heat waves, roads might be vulnerable to floods, and agricultural practices may be subject to drought and pests. Although projects can...

Resilience-building activities are increasingly evident in development projects, and as a result, there is a growing focus on monitoring and evaluating the associated outcomes of these projects for improved climate risk management. Significant challenges in measuring resilience, however,...

This paper finds that it is optimal to start a long-term emission-reduction strategy with significant short-term abatement investment, even if the optimal carbon price starts low and grows progressively over time. Moreover, optimal marginal abatement investment costs differ across sectors of the...

The new scenario framework facilitates the coupling of multiple socioeconomic reference pathways with climate model products using the representative concentration pathways. This will allow for improved assessment of climate impacts, adaptation and mitigation. Assumptions about climate policy...

The new scenario framework for climate change research envisions combining pathways of future radiative forcing and their associated climate changes with alternative pathways of socioeconomic development in order to carry out research on climate change impacts, adaptation, and mitigation. Here...

The scientific community is developing new global, regional, and sectoral scenarios to facilitate interdisciplinary research and assessment to explore the range of possible future climates and related physical changes that could pose risks to human and natural systems; how these changes could...