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Korean Meteorological Society (한국기상학회)
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Estimation of Physical Climate Risk for Private Companies

민간기업을 위한 물리적 기후리스크 추정 연구

  • Yong-Sang Choi (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Changhyun Yoo (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Minjeong Kong (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Minjeong Cho (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Haesoo Jung (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Yoon-Kyoung Lee (Center for Climate/Environmental Change Prediction Research, Ewha Womans University) ;
  • Seon Ki Park (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Myoung-Hwan Ahn (Department of Climate and Energy Systems Engineering, Ewha Womans University) ;
  • Jaehak Hwang (Financial Supervisory Service) ;
  • Sung Ju Kim (Financial Supervisory Service)
  • 최용상 (이화여자대학교 기후.에너지시스템공학과) ;
  • 유창현 (이화여자대학교 기후.에너지시스템공학과) ;
  • 공민정 (이화여자대학교 기후.에너지시스템공학과) ;
  • 조민정 (이화여자대학교 기후.에너지시스템공학과) ;
  • 정해수 (이화여자대학교 기후.에너지시스템공학과) ;
  • 이윤경 (이화여자대학교 기후.환경변화예측연구센터) ;
  • 박선기 (이화여자대학교 기후.에너지시스템공학과) ;
  • 안명환 (이화여자대학교 기후.에너지시스템공학과) ;
  • 황재학 (금융감독원 지속가능금융팀) ;
  • 김성주 (금융감독원 지속가능금융팀)
  • Received : 2023.10.04
  • Accepted : 2023.11.28
  • Published : 2024.02.29
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Abstract

Private companies are increasingly required to take more substantial actions on climate change. This study introduces the principle and cases of climate (physical) risk estimation for 11 private companies in Korea. Climate risk is defined as the product of three major determinants: hazard, exposure, and vulnerability. Hazard is the intensity or frequency of weather phenomena that can cause disasters. Vulnerability can be reflected in the function that explains the relationship between past weather records and loss records. The final climate risk is calculated by multiplying the function by the exposure, which is defined as the area or value of the target area exposed to the climate. Future climate risk is estimated by applying future exposure to estimated future hazard using climate model scenarios or statistical trends based on weather data. The estimated climate risks are developed into three types according to the demand of private companies: i) climate risk for financial portfolio management, ii) climate risk for port logistics management, iii) climate risk for supply chain management. We hope that this study will contribute to the establishment of the climate risk management system in the Korean industrial sector as a whole.

Keywords

Acknowledgement

이 논문은 2018년도 정부(교육부)의 재원으로 한국연구재단의 지원을 받아 수행된 기초연구사업(2018R1A6A1A08025520)이며, 민간주도 기후 리스크 관리모형 개발 프로젝트(Frontier-1.5°) 및 기상청 기상 기후 데이터 융합분석 특성화 대학원의 지원을 받아 수행되었습니다.

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