Assessing the cost of climate change

A team of researchers in the OU’s Faculty of Science, Technology, Engineering and Mathematics have received funding to assess the cost of climate change.

Neil Edwards, Professor of Earth System Science is Principal Investigator for the Financial Risk and the Impact of Climate Change (FRANTIC) project, which is an established group of researchers based in The Open University, Exeter and Cambridge Universities, SOAS University of London, and the SME Cambridge Econometrics.

The one-year project, which has just received a grant of £226,000 from the Natural Environment Research Council, is actively developing a novel integrated assessment model (IAM) framework for environmental policy analysis that dramatically improves the representation of rapid socio-economic changes and the impacts of environmental policies.

Professor Edwards said: “The FRANTIC project will be the first to attempt to unravel in detail where the potential financial hit from bursting the carbon bubble might be felt, as such it could have substantial implications for major investors and for the design of regulatory policy on climate change.”

Read more about OU research in the Faculty Science, Technology, Engineering and Mathematics.