A new study published on the prestigious journal Nature Climate Change highlights how climate-related damages impact on the stability of the global banking system. The paper has been co-authored by an international team of researchers from the CMCC Foundation, RFF-CMCC European Institute on Economics and the Environment (EIEE), Scuola Sant’Anna, Bocconi University and Politecnico di Milano (Italy)

Dr. Ahmadreza Djalali is an Iranian-Swedish disaster medicine doctor who made research and taught in the European universities such as Karolinska University of Sweden, Università degli Studi del Piemonte Orientale (Italy) and Vrije Universiteit Brussel (Belgium). Dr. Djalali also teamed up with universities in Iran and has connections with universities in Israel, Saudi Arabia and the United States. Accused of spying, he was and sentenced to death in 2016

In the last 50 years, the economic impact of extreme events has grown considerably, driven by substantial increases in the damage caused by each of these disasters; it can be estimated that in any given year a single catastrophic event costs about 26 million dollars more than in the previous year. This is, in a nutshell, what emerges from a study conducted by a group of researchers belonging to the Sant’Anna School in collaboration with researchers at the Pennsylvania State University