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Taking China's provincial panel data from 2010 to 2020 as an example, this paper verifies that climate change, especially extreme climate change, can destabilize China's financial stability and explores the transmission path of climate risks with meteorological disaster losses as the channel variable. Our empirical results demonstrate that: (a) only after the extreme climate change breaks through a certain threshold, thus causing a significant impact on the financial system; (b) we cannot ignore the improvement of disaster prevention and reduction ability brought by the improvement of social and economic development level; (c) the impact of extreme climate change will spread to the financial system through the economic losses caused by meteorological disasters; (d) there is obvious regional heterogeneity in the spread of meteorological disaster losses to the financial system. Our results are robust to a wider battery of checks and have important policy implications. • This paper empirically tests the impact of climate change on financial stability. • Extreme climate change will damage China's financial stability. • The economic losses caused by climate disasters will spread to the finance. • The transmission of such losses has obvious regional heterogeneity. • This paper provides policy implication for coping with climate risks. [ABSTRACT FROM AUTHOR]

To mitigate climate change and achieve sustainable development, Chinese governments have introduced "1+N" "dual-carbon" policy system aimed at reducing CO 2 emissions, transforming energy structures and controlling pollution. An effective policy mix and synergy is crucial for achieving the emission reduction targets and for ensuring the effectiveness of the policies, and it is therefore of great practical importance to provide a pathway for policy synergy based on assessing policy effectiveness. This paper selects three policies, namely the carbon Emission Trading System (ETS), Coal Control and Clean Utilization (CCCU), and Green Financial Reform and Innovation Pilot Zone (GFPZ), sets up ten scenarios, adopts difference-in-differences (DID) models to evaluate the impact, and give a pathway for policy synergy. The results show that ETS, CCCU, and GFPZ policies have significant positive effects on carbon emission reduction, energy structure transformation, and industrial environmental pollution control, respectively; CCCU has synergistic effects with ETS and GFPZ policies in controlling coal consumption and increasing the completion of industrial pollution control investments, respectively; while GFPZ policies have conflicting effects with CCCU and ETS in reducing carbon emissions and coal consumption, the GFPZ policy has conflicting effects with CCCU and ETS in reducing carbon emissions and controlling coal consumption. Finally, the study proposes a phased policy support system around carbon emission reduction in the power generation industry, energy structure transformation, and industrial environmental pollution control before 2030 and from 2030 to 2060. [ABSTRACT FROM AUTHOR]

This paper matched the data for all non-financial listed firms in China from 1990 to 2017 with weather data and used temperature and precipitation to represent climate change. Using daily temperature and daily precipitation data, we constructed temperature bins and precipitation bins. This study presents a potential first empirical analysis that applies the risk perception theory to comprehensively examine the impacts of daily temperature and daily precipitation on firms' debt financing costs. Compared to a day with a suitable temperature, a day with temperatures above 30 °C increases firms' debt financing costs by 0.2411%. Compared to a sunny day, a day with torrential rain increases firms' financing costs by 0.2697%. Approximately $122.13 million and $20.49 million in extra costs were incurred across all firms in 2017. We conducted a series of heterogeneity tests. We found that the negative impacts of climate change on debt financing costs are greater for firms that investor considers more vulnerable. Finally, we found two possible mechanisms. First, from the firm's subjective initiative perspective, firms that respond proactively during seasons of high temperatures and heavy rains can reduce the negative impacts. Second, adverse weather caused by climate change may also increase firms' debt financing costs by blocking travel. These results enrich the literature on firms' debt financing costs and contribute to the understanding of climate change's impact on firms. [Display omitted] • An extra high-temperature day increases firms' debt financing cost by 0.2411%. • An extra heavy-rain day increases firms' debt financing costs by 0.2697%. • The negative impacts will be greater for those firms that investor considers more vulnerable. • Firms' response proactively can reduce the negative impacts. • Climate change also may increase firms' debt financing costs by blocking travel. [ABSTRACT FROM AUTHOR]

[Display omitted] • A new repeatable batch processing method is developed for regional SUHI assessment. • A framework is proposed to explain the formation of SUHI effect. • The impacts of most driving factors on SUHI effect are spatial heterogeneous. • More attention should be paid to small cities. The urban heat island (UHI) effect has become a hot topic worldwide because of the double stress of global climate change and rapid urbanization. However, the deficiencies of existing methods hinder the monitoring and assessment of the surface urban heat island (SUHI) effect at the regional scale. This paper presented a new method to assess SUHI intensity, and then applied it in China. The results indicated that: (1) compared with other methods, this new method has some merits like higher accuracy, fewer operational steps, and higher portability. It enables accurate, semi-automated assessment of SUHI intensity at the regional scale. (2) SUHI effect exists in 81.02% of the cities in China. These cities were mainly concentrated in southeastern China, which presented the significant characteristic of spatial agglomeration. (3) Urban-rural differences in relative humidity, vegetation coverage, evapotranspiration, waterbody coverage, and the number of industrial enterprises are the main driving factors for the SUHI effect in China. Furthermore, there are significant interactions among these driving factors. (4) The spatial heterogeneity of the influence directions and intensities of many driving factors is obvious. Therefore, traditional regression models should be utilized more cautiously because they cannot capture the spatial heterogeneity of variables. (5) The hypothesis of "the larger the city size, the higher the SUHI intensity" is not valid, so more attention should be paid to small cities in the future. [ABSTRACT FROM AUTHOR]

Universities, the important locations for scientific research and education, have the responsibility to lead ecological civilization and low carbon transition. Ecological footprint evaluation (EFE) is usually used to measure sustainability of campuses. Although it can provide guidance and reference for overall campus planning, it lacks effective significance for individual behavior, especially when the reduction of carbon emissions is the aim. On the other hand a possible solution can be represented by machine learning. It can identify the key factors that will influence individual's overall carbon emissions caused by students' daily behavior, it can be used to find effective ways to reduce individual carbon emissions. This paper applied EFE and machine learning to comprehensively evaluate campus sustainability and students' carbon emissions. Huazhong University of Science and Technology (HUST), a "University in the Forest", was used as a study case in China. Even if HUST is endowned with a forest coverage of 72%, here we showed that its Ecological Footprint Index was −12.52, indicating strong unsustainability. This is mainly due to the high energy and food consumption, caused by the large population living in the campus and the lacking of energy saving measures. The per capita ecological footprint was relatively high, compared with other universities in the world, which meant more efforts needed to be done on ecological sustainability. Low carbon emission is a key feature for a sustainable campus. Based on the questionnaire survey delivered to 486 students who live in the campus, their daily active data were collected in terms of students' personal clothing, food, housing, consumption and transportation. And their associated carbon emissions were calculated based on emission intensities of Chinese population. Based on 486 detailed datasets, machine learning was then used to identify the key daily behavior to influence students' total carbon emission. Results showed that making behavior changes in air conditioning, food and electric bicycle were the most effective ways to reduce carbon emissions. Finally, while effective suggestions were proposed based on qualitative and quantitative evaluations, it is concluded that it is imperative for universities in China to formulate effective low-carbon policies, to achieve sustainable development and to confront global climate change. • A review of main initiatives of sustainable campus construction worldwide. • An evaluation combining campus ecological footprint and individual carbon footprint. • The ecological footprint of "China Forest University" reflects unsustainable. • Machine learning identifies internal driving force of campus carbon emissions. • Targeted guidelines on campus low-carbon construction are provided. [ABSTRACT FROM AUTHOR]

• 170 rainfall-related excavation failure cases in China were collected for analyses. • 10 conceptual models were developed for illustration of the excavation failures. • Soil conditions and technical factors involved in the failures were summarized. Over the last 30 years, intense rainfall events due to abnormal climate change have brought about numerous excavation failures in the urban areas of China. These heavy rainfall-related engineering failures, characterized by failure or collapse of retaining structures and/or retained slopes, have caused large-scale damages to urban environment as well as injuries and casualties. Thus, a summary of such failures along with corresponding statistical patterns and contributing factors is essential, which can help practitioners further understand the risk of excavation failures associated with heavy rainfall and then could develop or adopt appropriate measures for prevention of future failures. Based on these considerations, this paper reviewed 170 excavation failure cases occurring during 1994–2018 in China, using a method of descriptive statistics. The review mainly focused on their statistical failure patterns (temporal distributions of failures, types of failures and types of failed soil strata, etc.) and contributory factors (e.g., heavy rainfall influences and technical factors). It was disclosed that the failures occurred in those deep excavations in sandy soils during summer more frequently. In general, the failures can be categorized into six basic types, which are mainly governed by 11 kinds of adverse influences of heavy rainfall (e.g., seepage erosion under high hydraulic gradient, intense runoff scouring and water gushing impact from broken storm sewers nearby, etc.) and 16 technical factors (e.g., ignorance or improper protection of adjacent preexisting drainage structures, deficiencies in drainage or dewatering system, and poor construction quality of temporary retaining structures, etc.). The findings and lessons learned from this review are practically useful for designers and contractors to reduce the incidence of future excavation failures in the context of global climate change. [ABSTRACT FROM AUTHOR]