As part of our ongoing look at the U.S. election and how climate financial risks play out when transition risks and physical climate risks collide, Dr. Ron Dembo is taking a close look at Oklahoma where a Harris win looks likely to be a surprise win on the climate risk front for the state. Next week we will dig into more of the data with Bobby Shackelton and take a look at the methodology we are using. And if you live in the U.S., remember your vote counts! #climaterisk #vote #election2024
At first glance, Oklahoma may not seem like a critical state to analyze when considering elections and climate risk. However, Riskthinking.AI's forward-looking climate risk modelling tells a different story. In fact, a Harris win scenario offers a notably more favourable climate risk outlook for Oklahoma compared to a Trump win, primarily due to the emissions reductions linked to climate-focused policies. Our data shows that under a Trump victory, Oklahoma's potential climate-related losses—in all risk categories—would rise compared to a Harris win. For instance, wildfire risk, as indicated by the Fire Weather Index, is projected to be 26% higher under Trump's policy direction. This is particularly concerning for Oklahoma, a state increasingly vulnerable to extreme heat, drought, and other climate-related hazards. While emissions policies are often evaluated from an economic perspective, they significantly affect physical climate risks. In Oklahoma, our models reveal that proactive emissions policies play a crucial role in reducing the state's exposure to climate hazards, illustrating the tangible benefits of policies that limit carbon emissions. This state-specific analysis highlights the substantial influence that federal policy can have on regional climate risks. Oklahoma serves as a clear example of the stark contrast between the outcomes of a Trump and a Harris administration. #climaterisk #elections