Deborah L. Lindberg

Managing Climate Change Risk: Insurers Can Lead the Way

Abstract Rapid climate change has been occurring for the past few decades (IPCC 2012). These climate changes are predicted to continue and possibly accelerate for many decades to come (IPCC 2012). One of the industries most affected by climate change is the insurance industry; for instance, changing weather patterns could lead to increases in damages from events such as hurricanes, tornadoes, and floods (Mufson 2007). Fortunately, however, the insurance industry is uniquely positioned to lead the way with regard to climate change mitigation and risk management. Insurers can promote a more sustainable future through better risk-based modeling and product pricing; through innovative green products; through partnering with businesses for better environmental governance; through alliances with policy-makers and regulators to ensure voluntary market adjustments for risk; and by championing the enforcement of building code efforts (Lloyds 2006; Liedtke, Schanz, and Stahel 2009). Finally, while insurers can potentially have a major influence over the management of climate change risk in society, they must first model sustainability in order to be credible advisors to customers and other constituents.

The "Anti-Stapler" and the Transfer of Social Sphere Functions From Federal Enterprises to Local Governments: Lack of Accounting Rules Contributes to Russia's Financial Woes

Abstract This article focuses on funding issues facing local government in Russia during the current financial crisis. It concludes that efforts to develop a budget for the Lysogorski raion were hampered by (1) lack of generally accepted accounting principles, (2) the transfer of commercially unproductive assets from old Soviet enterprises to local authorities, (3) no funding for capital improvements, (4) unshared private information, (5) lack of economic resources to fund everyday purchases, (6) a return to the barter system, and (7) a chaotic system of raising and allocating tax revenue.