Savers and Borrowers: FINANCIAL MARKETS IN THE UNITED STATES

The approach to assessing climate risks and im- pacts consists of the following sequential steps: (1) determining climate variables at the level of the city/watershed through downscaling techniques; (2) estimating impacts and vulnerability through hydrometeorological modeling, scenario analysis, and GIS mapping; and (3) preparing a damage/ loss assessment and identification/prioritization of adaptation options. As a first step, each of the city-level studies considered two IPCC scenarios, a high- and a low- emissions scenario, 4 and estimated climate risks to 2050. The 2050 time horizon for the study is ap- propriate given city-level planning horizons and the typical time frame for major flood protection measures. The downscaling.

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