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Emerging financial risks from climate changes on building assets in the UK

机译:气候变化对英国建筑资产产生的新金融风险

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Purpose - The different scenarios of climate change, such as floods, temperature change and storms, are considered the main drivers influencing the building sector. Understanding how and when these climatic risks will emerge, specifically financial risks, is pivotal in dealing with these risks and applying the adaptation and mitigation strategies so as to minimise the effects and damages. Thus, the purpose of this paper is to discover the financial risks emerging from climate change impact on the building sector and determine the timescale of occurrence for such risks. Design/methodology/approach - The research methodology formulated in this study is founded on a systematic literature review and statistical analysis. Built on this, the potential financial risks emerging from climate change scenarios (CCS) were identified and designed as a questionnaire to collect data from UK expert professionals. Statistical methods were used to rank and compare the outcomes of the survey. Findings - The research observed that around 40 per cent of the participants in this study indicated that one-third of the total identified financial risks (23 factors) would emerge within 5-10 years. The most important factors are increased insurance excess and additional expense in insuring buildings in flood risk zones, whilst the least important financial risks are inability to repay debts and un-insurability because of climate change. Research limitations/implications - This study is limited to the UK, and regional implications are not covered. However, it is a starting point. Originality/value - The main contribution of this research project is establishing and developing clusters of the potential risks emerging from CCS, which can assist professionals in the building sector in the management and development of strategies to cope with these emerging risks.
机译:目的-不同的气候变化情景,例如洪水,温度变化和暴风雨,被认为是影响建筑业的主要动力。了解如何以及何时出现这些气候风险,特别是财务风险,对于应对这些风险并应用适应和缓解策略以最大程度地减少影响和损害至关重要。因此,本文的目的是发现气候变化对建筑部门的影响所产生的金融风险,并确定此类风险发生的时间尺度。设计/方法/方法-这项研究制定的研究方法基于系统的文献综述和统计分析。在此基础上,确定了气候变化情景(CCS)产生的潜在财务风险,并将其设计为问卷调查表,以收集来自英国专家的数据。使用统计方法对调查结果进行排名和比较。结果-研究发现,这项研究中约有40%的参与者表示,在5至10年内会出现三分之一的已确定财务风险(23个因素)。最重要的因素是增加的保险过量和为洪水风险区的建筑物投保的额外费用,而最不重要的财务风险是由于气候变化而无法偿还债务和不可保险。研究的局限性/意义-这项研究仅限于英国,并且不涵盖地区性影响。但是,这是一个起点。原创性/价值-该研究项目的主要贡献是建立和开发CCS所产生的潜在风险的集群,这可以帮助建筑行业的专业人员管理和制定应对这些新兴风险的策略。

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