GARP SCR EXAM CH.1-3 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Module
GARP SCR
Institution
GARP SCR
Climate Risk - ACCURATE ANSWERS financial risks linked to climate change
Also called Hazards* (Exposure * Vulnerability)
How does climate risk create financial risk? - ACCURATE ANSWERS In two ways:
Physical risk (destruction from climate such as storms, rising sea level, rising temp)
Tr...
GARP SCR EXAM CH.1-3
GARP SCR EXAM CH.1-3 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
Climate Risk - ACCURATE ANSWERS✔✔ financial risks linked to
climate change
Also called Hazards* (Exposure * Vulnerability)
How does climate risk create financial risk? - ACCURATE
ANSWERS✔✔ In two ways:
Physical risk (destruction from climate such as storms, rising sea level,
rising temp)
Transition risk (transitioning existing infrastructure to clean energy and
dislocation of people/cities)
,Physical Risk - ACCURATE ANSWERS✔✔ Financial consequences of
physical effects and changing weather patterns that result from climate
change
Transition Risk - ACCURATE ANSWERS✔✔ Financial consequences
of economic transformation and any dislocation needed to drastically
reduce and eliminate Greenhouse gases
Hazards - ACCURATE ANSWERS✔✔ Events with the potential to
cause harm and enhance risk
Two kinds of hazards for physical risk - ACCURATE ANSWERS✔✔
acute and chronic hazards
Acute hazards - ACCURATE ANSWERS✔✔ Short term events such as
Weather-related or weather-exacerbated events that will have an adverse
impact.
examples: floods, hurricanes, and wildfires
Chronic Hazards - ACCURATE ANSWERS✔✔ long-term trends of
weather events driven by climate change that will have an adverse
impact.
Examples: rising average temperatures and sea level rising
Exposure - ACCURATE ANSWERS✔✔ assets/firms in vulnerable
place/setting
, Similar concept to inherent risk
Vulnerability - ACCURATE ANSWERS✔✔ propensity or
predisposition of the asset to suffer adversely from its exposure to
hazards
Similar concept to risk likelihood
Stranded Assets - ACCURATE ANSWERS✔✔ Assets that have
suffered from unanticipated or premature write-downs, devalueations or
conversion to liabilities
Attribution science - ACCURATE ANSWERS✔✔ new form of climate
science that determines how much climate change attributes to specific
events are (partially or almost completely)
Cons of using climate models to predict physical risk - ACCURATE
ANSWERS✔✔ More useful for long run predictions (2100s) not in the
next few decades. Hazards with multiple factors more difficult to predict
(wildfires), less precise in smaller areas
accuracy in hazard model predictions - ACCURATE ANSWERS✔✔
Accuracy: models give varying degrees of accuracy for hazards and
timescales. Difficult to obtain data
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