How do weather risks in Canada and the United States affect global commodity prices? Implications for the decarbonisation process
研究加拿大和美国的天气风险对全球农产品、黄金和原油价格的影响，发现天气风险推高农产品和黄金价格但压低油价，为脱碳供应链提供参考。
Abstract Given that the probability of extreme weather has been dramatically increasing, this study contributes to the existing literature by bridging the relation between weather risks and global commodity prices with a secondary dataset (e.g., weather risks of Canada and the United States, agricultural raw materials price, gold price, and crude oil price). The results from the vector autoregression model and impulse response functions show that rising weather risks increase the price of agricultural raw materials and gold. However, the negative impact of weather risks on the crude oil price is found. Finally, the paper discusses the findings' potential implications (e.g., developing decarbonised supply chains) for decreasing weather risks' effects on commodity market uncertainties.