In light of the recent devastation caused by hurricane Harvey along the coast of Texas, USA, UEP group member Fanny Groundstroem wrote a letter to the editor of the Swedish-speaking newspaper Hufvudstadsbladet, which was published 2.9.2017. The letter entitled ”The Finnish energy sector is affected by global weather events like hurricane Harvey” (Finlands energisektor påverkas av globala väderfenomen som orkanen Harvey), based on research conducted within the UEP group, argues that cross-border impacts of climate change need to be better accounted for within energy policy circles of small open economies like Finland. The energy market is international in scope, which means that local disruptions to the production and transportation of energy products, may affect distant places in the form of e.g. price volatility or reduction in supply. As climate change progresses, the frequency and magnitude of extreme weather events may increase, together with impacts on global economic markets. A comprehensive identification and assessment of cross-border impacts is thus imperative to gain an understanding of the true vulnerability of the Finnish energy sector to climate change in the future.
Cross-border impacts of climate change need to be better accounted for within energy policy circles of small open economies like Finland.