Abstract: Introduction: policy context•Impact Assessment: options, models, examples•Proposal for Effort Sharing Regulation and LULUCF Regulation•Conclusions and Outlook: more work for modellers 1. Fully in line with Paris Agreement, no backsliding on robustness and transparency2.Provides for continuity•Addresses Member States and not individual farmers or foresters•Stand-alone LULUCF pillar•No-debit rule (from KP)•Flexibility within LULUCF and from ESR to LULUCF3.Proposes limited innovations•Flexibility to the ESR up to 280 mt CO2•Aligning accounting rules (AF,CM/GM)•Defining EU-internal process to set national forest management levels•Simplifying administrationConclusions (2)

Abstract: It is a widely held belief (IPCC) that climate change bringsmore risks to the worldI Since the start of MACSUR, TradeM has had risk on theagenda, but few results have so far come out. It has beenclaimed though, that there is no evidence for more risk in theglobal wheat market (Steen and Gjølberg 2014) (TradeMworkshop at Hurdalssjøen)I I have myself had the ambition of creating a dynamicstochastic model of the food system in which risk would be anintegral part, but time has been too shortI I have also pointed to methods from finance to reveal insights,and that is the road to be followed here, guided by Bølviken &Benth (2000) Buyer’s risk larger than seller’s risk — due to asymmetricdistribution of returns. Large price jumps are more likely thanequally sized price falls.I Long term positions much more risky than short term ones —as expectedI Agricultural commodities much less risky than crude oilI Price risk are related to volatility, and their changes over timewill have similar causal explanationsI Risks of producers and consumers of agricultural commoditieswill to some extent be related to the price risk, and also totheir portfolios and the co-variance between returns

Abstract: Crop production in the Northeast Farming Region of China (NFR) is affected considerably by variation in climatic conditions. Data on crop yield and weather conditions from a number of agro-meteorological stations in NFR were used in a mixed linear model to evaluate the impacts of climatic variables on the yield of maize (Zea mays L.), rice (Oryza sativa L.), soybean (Glycine max L. Merr.) and spring wheat (Triticum aestivum L.) in different crop growth phases. The crop growing season was divided into three growth phases based on the average crop phenological dates from records covering 1981 and 2010 at each station, comprising pre-flowering (from sowing to just prior to flowering), flowering (20 days around flowering) and post-flowering (10 days after flowering to maturity). The climatic variables were mean minimum temperature, thermal time (which is used to indicate changes in the length of growth cycles), average daily solar radiation, accumulated precipitation, aridity index (which is used to assess drought stress) and heat degree-days index (HDD) (which is used to indicate heat stress) were calculated for each growth phase and year. Over the 1961–2010 period, the minimum temperature increased significantly in each crop growth phase, the thermal time increased significantly in the pre-flowering phase of each crop and in the post-flowering phases of maize, rice and soybean, and HDD increased significantly in the pre-flowering phase of soybean and wheat. Average solar radiation decreased significantly in the pre-flowering phase of all four crops and in the flowering phase of soybean and wheat. Precipitation increased during the pre-flowering phase leading to less aridity, whereas reduced precipitation in the flowering and post-flowering phases enhanced aridity. Statistical analyses indicated that higher minimum temperature was beneficial for maize, rice and soybean yields, whereas increased temperature reduced wheat yield. Higher solar radiation in the pre-flowering phase was beneficial for maize yield, in the post-flowering phase for wheat yield, whereas higher solar radiation in the flowering phase reduced rice yield. Increased aridity in the pre-flowering and flowering phases severely reduced maize yield, higher aridity in the flowering and post-flowering phases reduced rice yield, and aridity in all growth phases reduced soybean and wheat yields. Higher HDD in all growth phases reduced maize and soybean yield and HDD in the pre-flowering phase reduced rice yield. Such effects suggest that projected future climate change may have marked effects on crop yield through effects of several climatic variables, calling for adaptation measures such as breeding and changes in crop, soil and agricultural water management.