The Backdrop - A UC Davis Podcast Exploring the World of Ideas
Society & Culture
14 - Paul Griffin on How Climate Risk Could Bring a Series of Recessions
New research finds the economy could be plunged into recession — or a series of recessions — because financial markets don’t account for climate risk. Without a better knowledge of the risk posed by extreme weather events, the average investor can only hope that the next extreme event won’t trigger a sudden correction.
Paul Griffin, Distinguished Professor at the UC Davis Graduate School of Management, has been studying this ”unpriced risk” and how it can affect markets and the economy.
In this episode, Griffin discusses the magnitude of climate risk, what companies and governments can do lessen the risk and how people can lower their financial exposure to it.
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