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Stranded Futures: Drivers of Varied Responses to Climate-Related Economic Loss

Obiettivo

Climate change is projected to cause global economic losses of $38 trillion annually until 2050, with severe consequences for societies and regional economies. “Stranded assets” refer to capital, labour and natural endowments that undergo early devaluation due to climate change. While a higher risk of asset stranding is assumed to strengthen incentives for adaptation and mitigation, evidence shows divergent societal responses: While Alpine ski resorts invest in expanding infrastructure, tourism investments in some coastal regions are withdrawn. Why do actors facing comparable risks respond differently? The STRANDED project investigates how climate-induced economic losses are socially mediated through cultural identities and political-economic structures and why responses diverge across regions. Methodologically, STRANDED employs a cross-case comparison of climate-vulnerable regional economies dependent on nature-based tourism across the global north: ski tourism struggling with warmer and drier winters and coastal property suffering from rising sea levels and hurricanes. Its objectives are threefold: 1) to make global projections of climate-related losses empirically tangible by comparing diverse regional economies; 2) to develop an interdisciplinary theoretical framework explaining heterogeneous responses by integrating sociology, political economy, and environmental science; and 3) to generate actionable insights for policymakers and communities designing resilient and future-proof economies. The project advances sociology, political economy, and climate research by showing that maladaptation and insufficient mitigation often persist even where addressing them would be economically rational, reflecting underlying socio-political dynamics rather than purely economic constraints. STRANDED thus provides urgently needed knowledge to inform place-sensitive policies to counter asset stranding, prevent “left behind” regions, and foster sustainable climate transitions.

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HORIZON-ERC - HORIZON ERC Grants

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Istituzione ospitante

UNIVERSITAT WIEN
Contributo netto dell'UE
€ 1 499 055,00
Indirizzo
UNIVERSITATSRING 1
1010 Wien
Austria
Regione
Ostösterreich Wien Wien
Tipo di attività
Higher or Secondary Education Establishments
Collegamenti
Costo totale
€ 1 499 055,00

Beneficiari (1)