This study analysed the impact of the 2012 flood that occurred in Nigeria on households’ chance of entering into poverty, using a panel analysis of covariance model and data from the Nigerian General Household Survey of 2011 and 2013. The result of the analyses showed that though the 2012 flood did not significantly affect the per capita expenditure of all the surveyed households, it may have significantly decreased the per capita expenditure of households located in the flood affected areas and were heavily dependent on agriculture for their income.

China and the United States are the two largest emitters of greenhouse gases, making them pivotal players in global climate negotiations. Within the coming decade, however, India is set to become the most important counterpart to the United States, as it overtakes China as the country with the most at stake depending on the type of global burden-sharing agreements reached, thus becoming a member of the ‘Climate G2’. We create a hypothetical global carbon market based on modelling emissions reduction commitments across countries and regions relative to their marginal abatement costs.