Articles | Volume 21, issue 8
Nat. Hazards Earth Syst. Sci., 21, 2277–2284, 2021
https://doi.org/10.5194/nhess-21-2277-2021

Special issue: Global- and continental-scale risk assessment for natural...

Nat. Hazards Earth Syst. Sci., 21, 2277–2284, 2021
https://doi.org/10.5194/nhess-21-2277-2021

Research article 02 Aug 2021

Research article | 02 Aug 2021

Space-time clustering of climate extremes amplify global climate impacts, leading to fat-tailed risk

Luc Bonnafous and Upmanu Lall

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Cited articles

Beguería, S., Vicente-Serrano, S. M., and Angulo-Martínez, M.: A multiscalar global drought dataset: The SPEI base: A new gridded product for the analysis of drought variability and impacts, B. Am. Meteorol. Soc., 91, 1351–1356, https://doi.org/10.1175/2010BAMS2988.1, 2010. 
Beguería, S., Vicente-Serrano, S. M., Reig, F., and Latorre, B.: Standardized precipitation evapotranspiration index (SPEI) revisited: Parameter fitting, evapotranspiration models, tools, datasets and drought monitoring, Int. J. Climatol., 34, 3001–3023, https://doi.org/10.1002/joc.3887, 2014. 
Bonnafous, L., Lall, U., and Siegel, J.: An index for drought induced financial risk in the mining industry, Water Resour. Res., 53, 1–23, https://doi.org/10.1002/2016WR019866, 2017a. 
Bonnafous, L., Lall, U., and Siegel, J.: A water risk index for portfolio exposure to climatic extremes: Conceptualization and an application to the mining industry, Hydrol. Earth Syst. Sci., 21, 2075–2106, https://doi.org/10.5194/hess-21-2075-2017, 2017b. 
Bozkurt, D., Rojas, M., Boisier, J. P., and Valdivieso, J.: Climate change impacts on hydroclimatic regimes and extremes over Andean basins in central Chile, Hydrol. Earth Syst. Sci. Discuss. [preprint], https://doi.org/10.5194/hess-2016-690, 2017. 
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Extreme climate events can cause human and economic catastrophe at the global scale. For specific sectors, such as humanitarian aid or insurance, being able to understand how (i.e., with which frequency and intensity) these events can occur simultaneously at different locations or several times in a given amount of time and hit critical assets is all-important to design contingency plans. Here we develop an indicator to study co-occurence in space and time of wet and dry extremes.
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