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There is a lack of evidence regarding how natural resource markets have responded to recent increases in climate-induced extreme events like wildfire. Wildfire can affect the economic value of forests by directly damaging the existing tree stock and by altering landowner risk expectations of future wildfire arrival. This paper uses parcel data over a seventeen-year period to estimate the effects of large wildfires and drought stress on market prices for private timberland across the three Pacific states of the western U.S. In addition to estimating the land price impacts of wildfires on parcels that were directly burned, we identify changes in risk expectations by estimating the impacts from wildfires that burned in close proximity rather than directly on timberland that was sold in the land market. Results indicate that recent increases in large wildfires and drought stress over the past two decades have lowered the economic value of timberland by approximately 10%, or about $11.2 billion in damages across the three Pacific states, with approximately 5.5% (∼$6.2 billion) due to climate change. Most of the wildfire damages arise from changes in risk expectations. Results provide evidence on the costs of climate-induced extreme events on natural capital that have already occurred. • Climate-induced extreme events, such as drought stress and large wildfires, negatively affect the economic value of timberland in the Pacific states. • Wildfires lower timberland values through two avenues: direct damage to the existing forest stock and neighboring fires that alter landowners' expectations of fire arrival. • As a result of recent increases in drought stress and large wildfires, the economic value of timberland has been reduced by approximately 10%, or about $11.2 billion in damages across three Pacific states, with approximately 5.5% (∼$6.2 billion) due to climate change. Most of the wildfire damages arise from changes in risk expectations. [ABSTRACT FROM AUTHOR]

Due to climate change, the frequency and intensity of droughts are expected to increase. To improve resilience to droughts, proactive drought management is essential. Economic assessments are typically included to decide on the drought risk-reducing investments to make. The choice of both methods and scope of economic assessments influences the outcome, and thus the investment choice. This paper aims to identify how comprehensively economic assessments are applied in practice. Through a systematic literature review, 14 actual economic assessments are identified and their methods are evaluated based on seven criteria for economic assessments as derived from the United Nations Framework Convention on Climate Change (UNFCCC). The results show that in practice, economic assessments rarely address all criteria. Applying a limited number of criteria reduces the scope and narrows the approach, possibly leading to the underestimation of drought risk reduction approaches' related benefits. Applying the seven criteria in practice will improve the results of economic assessments of drought risk reduction measures, allowing for optimal investment selection. Based on the different criteria, a Framework for Economic Assessments of Drought Risk-Reducing Applications (FEADRRA) is proposed. Applying the criteria of the framework can support decision-makers in drought risk management and in carrying out the most fitting drought interventions. • Criteria of the economics of climate change rarely translate into practice. • Limited criteria included can underestimate risk-reducing measures' attractiveness. • A framework for the economic assessment of drought mitigation measures is proposed. [ABSTRACT FROM AUTHOR]

Policy makers search for strategies to promote resilience and mitigate the effects of future climatic shocks. In this paper, we assess whether small regular cash transfers strengthen poor households' ability to mitigate the welfare effects of drought shocks. We analyze mechanisms through which cash transfers contribute to resilience, including savings, asset accumulation as well as income smoothing in agriculture and off-farm activities. We combine household survey data collected as part of a randomized control trial in rural Niger with satellite data used to identify exogenous rainfall shocks. The results show that cash transfers increase household consumption by about 10 percent on average. Importantly, this increase is mostly concentrated among households affected by drought shocks, for whom welfare impacts are larger than transfer amounts due to households' enhanced ability to protect earnings in agriculture and off-farm businesses when shocks occur. The results suggest that multi-year cash transfer programs can foster poor households' resilience by facilitating savings and income smoothing. [ABSTRACT FROM AUTHOR]

Understanding the impact of climate change on terrestrial wet and dry changes and the relationship between the two is of great significance to the sustainable development of terrestrial ecosystems. The farming-pastoral ecotone of northern China (FPENC) is an area that is sensitive to climate change, suffering from perennial drought and a clear aridification trend. Unlike previous single-factor, single-timescale studies, we identified aridification in the region based on a dataset established by remote sensing and ground-based monitoring stations from a combination of two perspectives: climate and soil. The results show that, in terms of climate, the period from 2000 to 2019 was the driest in the region during the last 120 years , and the summer drought was the most severe and shifted from a summer to spring drought; in terms of soil, the soil aridification trend in the region was severe, with 16.1% of the areas becoming significantly drier (P < 0.1) among the years and 41.6% in spring, respectively. Similar to climate change, soils exhibited recessive aridification due to the counterbalancing effect of the dry and wet seasons within the year. Then the coupling relationship between climate change and soil aridification was established in time and space. Moreover, the spatiotemporal response patterns of both were obtained. The results showed that the frequency of soil drought under meteorological drought conditions showed an increasing trend and that the sensitivity of soil drought occurrence increased. Among them, the effect of precipitation on relative soil moisture (RSM) was immediate, and the effect of prolonged warming on RSM is greater. The area of soil aridification that was caused by climatic aridification in spring accounted for 13.7% of the entire area. The regional aridification research mode proposed in this paper can provide ideas for subsequent studies. [Display omitted] • A comprehensive judgment mode of the regional aridification combining climate elements, soil moisture was established. • Over the last 20 years, the central part of the FPENC showed overall warming and wetting of the climate. • Over the last 20 years, the trend of the soil aridification in the central part of the FPENC remained severe. • The counterbalancing effect of the dry and wet seasons leads to recessive aridification. • The sensitivity of the occurrences of soil drought to the climate drought anomalies continuously became stronger. [ABSTRACT FROM AUTHOR]

Understanding the impact of climate change on terrestrial wet and dry changes and the relationship between the two is of great significance to the sustainable development of terrestrial ecosystems. The farming-pastoral ecotone of northern China (FPENC) is an area that is sensitive to climate change, suffering from perennial drought and a clear aridification trend. Unlike previous single-factor, single-timescale studies, we identified aridification in the region based on a dataset established by remote sensing and ground-based monitoring stations from a combination of two perspectives: climate and soil. The results show that, in terms of climate, the period from 2000 to 2019 was the driest in the region during the last 120 years , and the summer drought was the most severe and shifted from a summer to spring drought; in terms of soil, the soil aridification trend in the region was severe, with 16.1% of the areas becoming significantly drier (P < 0.1) among the years and 41.6% in spring, respectively. Similar to climate change, soils exhibited recessive aridification due to the counterbalancing effect of the dry and wet seasons within the year. Then the coupling relationship between climate change and soil aridification was established in time and space. Moreover, the spatiotemporal response patterns of both were obtained. The results showed that the frequency of soil drought under meteorological drought conditions showed an increasing trend and that the sensitivity of soil drought occurrence increased. Among them, the effect of precipitation on relative soil moisture (RSM) was immediate, and the effect of prolonged warming on RSM is greater. The area of soil aridification that was caused by climatic aridification in spring accounted for 13.7% of the entire area. The regional aridification research mode proposed in this paper can provide ideas for subsequent studies. [Display omitted] • A comprehensive judgment mode of the regional aridification combining climate elements, soil moisture was established. • Over the last 20 years, the central part of the FPENC showed overall warming and wetting of the climate. • Over the last 20 years, the trend of the soil aridification in the central part of the FPENC remained severe. • The counterbalancing effect of the dry and wet seasons leads to recessive aridification. • The sensitivity of the occurrences of soil drought to the climate drought anomalies continuously became stronger. [ABSTRACT FROM AUTHOR]

This paper introduces a new framework to evaluate the resilience of lakes under climatic and anthropogenic droughts. The proposed hierarchical structure of criteria for assessing lake's resilience has four levels. The first level includes several indices such as long-term resilience, reliability, and implementation cost. In the second to fourth levels, four main resilience-based criteria (i.e. robustness, resourcefulness, redundancy, and rapidity) and some qualitative and quantitative sub-criteria are defined considering the factors affecting the ecological condition of lakes. To quantify the time series of the sub-criteria, a coupled SWAT-MODSIM-based simulation model has been applied. Also, the values of criteria and sub-criteria have been aggregated using the Evidential Reasoning (ER) approach. After estimating the annual resilience time series, three resilience indices, namely the recovery time (Tr), loss of resilience (LOR), and final resilience (Res f), have been calculated. The normalized values of these indices and reliability criteria have been aggregated to evaluate the overall performance of lake restoration scenarios. To show the applicability of the proposed methodology, the Zarrinehrud river basin and Lake Urmia have been selected as the case study. As one of the largest hypersaline lakes globally, Lake Urmia suffers from drastic changes in its water body and a high level of salinization. Also, the Zarrinehrud river basin, located in the southeastern of Urmia Lake, is the most significant sub-basin of the lake and is responsible for supplying 41% of the total annual inflow of the lake. The restoration scenarios of Lake Urmia have been assessed from 2019 to 2049. Eventually, the most effective scenario, which has an average overall performance of 0.72, the implementation cost of 17.1 million dollars, and the uncertainty band of 0.05, has been selected. • A new methodology is proposed for evaluating resilience of lakes under drought. • Some new criteria are proposed for assessing the lake's ecological condition. • The evidential reasoning approach is utilized for combining resilience sub-criteria. • Three new resilience indices have been proposed for evaluating management scenarios. • The methodology has been applied to Lake Urmia and Zarrinehrud river basin in Iran. [ABSTRACT FROM AUTHOR]