{"id":20023,"date":"2021-03-15T08:00:00","date_gmt":"2021-03-15T01:00:00","guid":{"rendered":"https:\/\/uns.ac.id\/en\/?p=20023"},"modified":"2021-03-14T19:16:11","modified_gmt":"2021-03-14T12:16:11","slug":"economic-noble-laureate-2003-discussed-climate-change-risk-in-scientific-speech-for-uns-45th-anniversary","status":"publish","type":"post","link":"https:\/\/uns.ac.id\/en\/economic-noble-laureate-2003-discussed-climate-change-risk-in-scientific-speech-for-uns-45th-anniversary\/","title":{"rendered":"Economic Noble Laureate 2003 Discussed Climate Change Risk in Scientific Speech for UNS 45th Anniversary"},"content":{"rendered":"\n<p class=\"has-text-align-justify wp-block-paragraph\"><strong>UNS<\/strong> &#8212; Universitas Sebelas Maret (UNS) Surakarta was entering its 45 years age marked by an open Academic Senate Session on Friday (12\/3\/2021). Birthday wishes were delivered from national and international partners, alumni, and universities. A scientific oration was also presented in the session by Economic Noble Laureate in 2003, Prof. Robert Franklin Engle, Ph.D.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\">The Noble Laureate delivered a scientific oration on Climate Change as a reality that everybody must face. Climate change brings two types of risks, physical risk, and transitional risk. Physical risk can be observed from the changes in the soil, weather, and infrastructures. In contrast, the transitional risk results from policy changes regarding climate change, technology, consumerism, and market sentiment during the transition period to the lower-carbon economy.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\">During the Covid-19 pandemic in 2020, the transitional risk is the most observable. The New York University Professor stated that transitional threat caused an economic downturn in various sectors such as airline, entertainment, and other sectors. Climate change risk also affects the stock market, portfolios of stocks, and bank portfolios.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\">\u201cWe might be worried about the Covid, and we might be worried about the recession. But the biggest risk is probably climate change,\u201d Prof. Engle mentioned in his speech.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\">At this point, two options are available in facing climate change, adaptation or mitigation. Better risk evaluation is needed to improve financial system performance and allocate more capital to a more productive industry to apply the adaptation option. Mitigation can be used by committing to reducing the emission.<\/p>\n\n\n\n<p class=\"has-text-align-justify wp-block-paragraph\">\u201cThese are three of my grandsons. When I see them, I (am) wondering whether (th)is peaceful appearance today is going to be still a peaceful performance when they grow up. They are actually quite worried about it,\u201d the 79 years old Professor concluded. <strong>Humas UNS<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reporter: Ida Fitriyah<br>Editor: Dwi Hastuti<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UNS &#8212; Universitas Sebelas Maret (UNS) Surakarta was entering its 45 years age marked by an open Academic Senate Session on Friday (12\/3\/2021). Birthday wishes were delivered from national and international partners, alumni, and universities. A scientific oration was also presented in the session by Economic Noble Laureate in 2003, Prof. Robert Franklin Engle, Ph.D. [&hellip;]<\/p>\n","protected":false},"author":777783,"featured_media":20024,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-20023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uns-update"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economic Noble Laureate 2003 Discussed Climate Change Risk in Scientific Speech for UNS 45th Anniversary - Universitas Sebelas Maret<\/title>\n<meta name=\"description\" content=\"UNS --- Universitas Sebelas Maret (UNS) Surakarta was entering its 45 years age marked by an open Academic Senate Session on Friday (12\/3\/2021). 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