Climate Impact Depreciation Quantification
“How can we quantify how climate impacts will affect asset depreciation?”
Aging naturally chips away at asset values. However, climate change is going to disrupt this to a whole new level. As weather and earth conditions become more chaotic, more damages are expected to be withstood, shortening the expected life and value of assets affected. By using Climate Impact Depreciation Quantification, we can analytically find how these force can shorten an asset’s life.
Climate Insurance Premiums
“How are people charged climate insurance premiums?”
People pay for climate insurance by paying a monthly premium (fee) every month. These Climate Insurance Premiums are charged based on the perceived risk that the property is located in and its physical resilience to damage. Payment of climate insurance premiums ensures that the provider can stay afloat and continue to safeguard property.
“How can climate insurance organizations insulate themselves from extreme risk by purchasing insurance from other organizations?”
Climate insurance markets are extremely risky. One great hurricane or wildfire event may wipe out so many assets that the insurance company that backed them will become insolvent. To prevent this from occurring, these climate insurance organizations can purchase insurance from other companies in what’s called Climate Reinsurance. This will insulate them from extreme risks and allow them to continue operating.
“What are financial products that are dependent on weather conditions?”
Although usually thought of as two independent factors, weather can have a massive impact on finances, whether (pun intended) it be through floods devastating homes or wildfire-prone weather making agricultural insurance riskier. As a result, financial institutions have created a series of financial products known as Weather Derivatives. These can come in many forms, such as changing electricity prices based on weather or looking at long-term climate projections to calculate hurricane insurance.
Why Climate Change Will Cause Home Insurance Prices To Go Up For Many
“Why will Climate Change cause home insurance prices to go up for many?”
Home insurance takes into account the local area’s liability to disaster. With the advent of Climate Change, environmental hazards are becoming more volatile, even in zones that were once thought immune. Neighborhoods that are affected are seeing their insurance costs rise as a result of this newfound vulnerability. This is Why Climate Change Will Cause Home Insurance Prices To Go Up For Many.
Geospatial Slope Estimation
“How does geospatial software estimate the slope of maps?”
Slope analysis is extremely useful for numerous geospatial applications ranging from housing placement to wildfire risk estimation. However, how exactly is the sloe calculated? Well, what geospatial software usually does is take each data point of height and compare it to its eight neighbors to estimate the height difference. This is how Geospatial Slope Estimation is performed.
Image credit http://wiki.gis.com/
Using Census Data to Analyze Community Wildfire Damage
“How can we use census data to analyze the extent that a community has been damaged by wildfire?”
A single wildfire can destroy entire towns. Even if only minor damage occurs, then a mass migration away from the municipality. This numerical change will be recorded in census data, which means that we can Use Census Data to Analyze Community Wildfire Damage. The best way to do so would be to find the one-year estimates before and after the event and measure the difference.
Using Statistics to Spot Racial Bias
“How can statistics be used to spot racial bias?”
Racism exists in every single part of the world, although numerous people will try to dispute this. This can be countered by looking at how different ethnic groups are affected differently by similar quantitative measurements, such as per-capita income or incarceration rate and seeing how it holds true for nearly every phenomenon. This is how we can Use Statistics to Spot Racial Bias.
And don’t forget, #BlackLivesMatter
Ecological Data Analysis
“How can we apply advanced statistical analysis to Ecology?”
Ecology is an academic field that is rich in data. From the largest of ecosystems to the smallest of invertebrates, data can play a central role in how everything operates. To take a deeper dive into its fundamental core, Ecological Data Analysis can be done to quantify these relationships. This can range from seeing what factors lead to evolution to categorizing population characteristics.