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Author: Lotze-Campen, Hermann × Subject: climate change ×

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    The role of storage dynamics in annual wheat prices
    (Bristol : IOP Publishing, 2017) Schewe, Jacob; Otto, Christian; Frieler, Katja; Bodirsky, Benjamin Leo; Kriegler, Elmar; Lotze-Campen, Hermann; Popp, Alexander
    Identifying the drivers of global crop price fluctuations is essential for estimating the risks of unexpected weather-induced production shortfalls and for designing optimal response measures. Here we show that with a consistent representation of storage dynamics, a simple supply–demand model can explain most of the observed variations in wheat prices over the last 40 yr solely based on time series of annual production and long term demand trends. Even the most recent price peaks in 2007/08 and 2010/11 can be explained by additionally accounting for documented changes in countries' trade policies and storage strategies, without the need for external drivers such as oil prices or speculation across different commodity or stock markets. This underlines the critical sensitivity of global prices to fluctuations in production. The consistent inclusion of storage into a dynamic supply-demand model closes an important gap when it comes to exploring potential responses to future crop yield variability under climate and land-use change.
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    Comparing impacts of climate change and mitigation on global agriculture by 2050
    (Bristol : IOP Publ., 2018) van Meijl, Hans; Havlik, Petr; Lotze-Campen, Hermann; Stehfest, Elke; Witzke, Peter; Pérez Domínguez, Ignacio; Bodirsky, Benjamin Leon; van Dijk, Michiel; Doelman, Jonathan; Fellmann, Thomas; Humpenöder, Florian; Koopman, Jason F. L.; Müller, Christoph; Popp, Alexander; Tabeau, Andrzej; Valin, Hugo; van Zeist, Willem-Jan
    Systematic model inter-comparison helps to narrow discrepancies in the analysis of the future impact of climate change on agricultural production. This paper presents a set of alternative scenarios by five global climate and agro-economic models. Covering integrated assessment (IMAGE), partial equilibrium (CAPRI, GLOBIOM, MAgPIE) and computable general equilibrium (MAGNET) models ensures a good coverage of biophysical and economic agricultural features. These models are harmonized with respect to basic model drivers, to assess the range of potential impacts of climate change on the agricultural sector by 2050. Moreover, they quantify the economic consequences of stringent global emission mitigation efforts, such as non-CO2 emission taxes and land-based mitigation options, to stabilize global warming at 2 °C by the end of the century under different Shared Socioeconomic Pathways. A key contribution of the paper is a vis-à-vis comparison of climate change impacts relative to the impact of mitigation measures. In addition, our scenario design allows assessing the impact of the residual climate change on the mitigation challenge. From a global perspective, the impact of climate change on agricultural production by mid-century is negative but small. A larger negative effect on agricultural production, most pronounced for ruminant meat production, is observed when emission mitigation measures compliant with a 2 °C target are put in place. Our results indicate that a mitigation strategy that embeds residual climate change effects (RCP2.6) has a negative impact on global agricultural production relative to a no-mitigation strategy with stronger climate impacts (RCP6.0). However, this is partially due to the limited impact of the climate change scenarios by 2050. The magnitude of price changes is different amongst models due to methodological differences. Further research to achieve a better harmonization is needed, especially regarding endogenous food and feed demand, including substitution across individual commodities, and endogenous technological change.