Full house, many thanks to all presenters and great questions so far. Come by for the second oral slot starting now in 2.17 and the posters in X5 this afternoon.

🚨Climate change will put upward pressure on inflation, a peer-reviewed study finds.

For over a year, Senate Budget Committee has detailed the MANY ways that climate change is raising costs for families and threatening our entire economy. (thread)
axios.com/2024/03/25/cli…

March 2024: price of cocoa beans ⬆️ over $7,000 (approx. £5,500)/tonne – 3️⃣❎ March 2020

🍫 Weight for weight, this made cocoa over 1️⃣1️⃣❎ more valuable than oil

Why?

El Niño & climate change drive up cocoa prices w/ world’s largest exporters

bit.ly/3Vp2prh

Trending in #Meteorology :
ooir.org/index.php?fiel…

1) Global warming & heat extremes to enhance inflationary pressures (Communications Earth & Environment)

2) The 2023 Ocean Temperature & Sea Ice Extremes in the Context of Longer-Term Climate Change

3) How, when & where current mass flows in Martian

A reminder that the big positive green chunk for the euro area at the end is largely a result of the 2022 heatwave (see Kotz et al, 2023 for estimates of impact) for those still claiming climate change isn't a primary mandate issue.

Global warming may lead to food inflation rising by up to 3.2 percentage points per year and overall inflation rising by up to 1.2 percentage points per year under temperature increases projected for 2035, according to a paper published in Communications Earth & Environment. go.nature.com/3TuKq00

The strain that rising global temperatures could have on the agriculture industry and inflation around the world will likely cause food prices to increase even more, according to new research. trib.al/oZfdhZE

By 2035 food prices could be rising 3 per cent every single year due to rising temperatures alone, find Maximilian Kotz and co in a study done in collaboration with the European Central Bank:

newscientist.com/article/242356…

Higher average temperatures increase #inflation : Rising temperatures could drive food inflation up by 3.2 percentage points and overall inflation by 1.18 percentage points annually by 2035, according to a new study by PIK's Maximilian Kotz and the European Central Bank: pik-potsdam.de/en/news/latest…

📢Alarming findings - Future global warming and intensifying heat extremes will lead to inflation increases across the world.
🔗nature.com/articles/s4324…
Maximilian Kotz @PIK_climate

Many thanks for 30 excellent submissions, looking forward to seeing you all at #EGU24 in Vienna.

Climate Analytics Potsdam Institute for Climate Impact Research PIK Columbia Climate School LDEO Risk-KAN CompoundNET (@compoundnet.bsky.social)

Great to see more coverage on 'Climateflation' from DER STANDARD, featuring our study from Potsdam Institute for Climate Impact Research PIK with the European Central Bank and input from Gernot Wagner :

derstandard.at/story/30000002…

The study:

ecb.europa.eu/pub/pdf/scpwps…

#SUERFpolicybrief “The impact of global warming on inflation: averages, seasonality and extremes” by Maximilian Kotz (@PIK_Climate), Friderike Kuik (@ecb), Eliza Lis (ECB), and Christiane Nickel (ECB)

#ClimateChange #ClimatePhysicalRisk #InflationDynamics

Great to see our paper on precipitation extremes is trending just a few days after release!

Leonie Wenz Prof Anders Levermann, PhD

Make your climate impact and hazard research impactful and submit to our multidisciplinary #EGU24 session on

'Advances in physical climate risk assessment for the financial and insurance sectors'

A. Ceglar, Dr Nicola Ranger, A. Ciullo, Maximilian Kotz
meetingorganizer.copernicus.org/EGU24/session/…

Great to discuss our recent study on heavy precipitation extremes with Michael Le Page from the New Scientist :)

newscientist.com/article/240522…