Forecasting the local and global socio-economic impact of climate change in the Boreal and Arctic regions of Siberia

Abstract

Climate change in Siberia, though local, is a problem of global concern. This article examines some of the negative consequences of climate change in the Boreal and Arctic regions of Siberia. Forecasting the local and global socio-economic impacts of climate change in this region includes assessing the potential for adaptation. Forecasting and solving climate-related issues are possible only on the basis of a multidisciplinary approach, consistently implemented at universities. The authors analyse a set of economic problems in the context of climate change: the need to evaluate natural and climate capital, technological demands, adapting technical systems to changes in the climate and increasing the quality of life. They conclude that there is an absence of systemic climate policy in Russia and emphasise the need for consistent accounting of climate-related expenses and benefits in subsurface resource companies carrying out long-term investment projects in the region. The article lays out directions for socio-economic policies that adequately address climate-related challenges.

Keywords:

• Climate change
• Natural capital
• Climate policy

Acknowledgements

The research has been supported by the grant issued in accordance with Resolution of the Government of the Russian Federation No. 220 dated 9 April 2010, under Agreement No. 14.B25.31.0001 with Ministry of Education and Science of the Russian Federation dated 24 June 2013 (BIO-GEO-CLIM).