Climate change and the Russian economy
Simola, Heli (01.09.2020)
Numero
11/2020Julkaisija
Suomen PankkiBank of Finland
2020
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-202009012308Tiivistelmä
Even with substantial uncertainty over the timing and magnitude of climate change, the potential impacts pose significant risks to long-term global economic development. This paper reviews relevant literature on economic effects of climate change with respect to Russia, which faces physical risks as well as risks created by the transition to a low-carbon economy. Most risks arise from the orientation of Russian production and exports to carbon-intensive sectors, particularly oil and gas. Nevertheless, Russia has shown little ambition in addressing risks related to climate change.