Monetizing the impacts of climate change on the Greek mining sector

Damigos, D

dc.contributor.author	Damigos, D	en
dc.date.accessioned	2014-03-01T11:46:28Z
dc.date.available	2014-03-01T11:46:28Z
dc.date.issued	2011	en
dc.identifier.issn	13812386	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/37942
dc.subject	Adaptation and mitigation costs	en
dc.subject	Climate change	en
dc.subject	Mining industry	en
dc.title	Monetizing the impacts of climate change on the Greek mining sector	en
heal.type	other	en
heal.identifier.primary	10.1007/s11027-011-9349-z	en
heal.identifier.secondary	http://dx.doi.org/10.1007/s11027-011-9349-z	en
heal.publicationDate	2011	en
heal.abstract	Nowadays, it is widely acknowledged that climate change will affect mining industry and may pose significant risks to the economic viability of mining enterprises. So far, the vast majority of recent research efforts on this subject have focused, not surprisingly, on mining activities operating in northern areas. Nevertheless, climate change is an issue that should be of concern for all mining industry, worldwide. For this reason, this paper addresses the impacts of climate change on mining industry in the Mediterranean Region, and specifically Greece, and attempts, for the first time, to estimate the cost of climate change-related risks to the sector by means of a ""top-down"" approach. Towards this direction, climate projections based on the United Nations International Panel on Climate Change (IPCC) A1B emission scenario (which refers to a fast global economic growth, global population that peaks mid-century and then decreases, and a rapid introduction of new and more efficient technologies and a balanced energy source mix) for the time period 2021-2050 are compared to climate data for the time period 1991-2000, in order to quantify the impacts in physical terms. Then, both secondary and primary data sources are used to monetize the cost of climate change impacts to mining enterprises. Although there exist certain limitations in the research due to data unavailability, the study reveals the importance of the problem and provides useful findings. More specifically, the estimates indicate that Greece's mining industry could face economic losses from climate change as high as US$0.8 billion. The cost of adaptation measures is about US$312 million, while that of mitigation measures that will burden the sector through the increased electricity prices is about US$478 million. © 2011 Springer Science+Business Media B.V.	en
heal.journalName	Mitigation and Adaptation Strategies for Global Change	en
dc.identifier.doi	10.1007/s11027-011-9349-z	en
dc.identifier.spage	1	en
dc.identifier.epage	14	en