Firms finance and the weather: the UK weather derivatives market

作者: Samuel Cecil Randalls

DOI:

关键词: Context (language use)EarningsHuman geographyFinanceBusinessFinancial marketClimate changeProduct (business)Derivatives marketCommodification

摘要: The spectre of climate change is motivating businesses to evaluate the weather sensitivity their operations and earnings. Persistent changes in day-to-day weather, such as a warmer than average winter, may prove very costly for since 1997 new financial market has grown up around mitigation these risks. This derivatives expanded from being small US energy product become $45.2 billion industry by 2006. In process this commodification indexes re-valuing meteorological data, forecasts expertise, well changing ways which firms have traditionally considered unmanageable. thesis presents an empirical examination market, particularly focusing upon UK, drawing in-depth interviews with participants. Setting within context current theories human geography science studies, research also illustrates material discursive implications are having not just on meteorology, but policies.

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