Weather and climate mountain ranges toward prevailing winds, and the ocean current. Weather and climate There is often confusion between weather and climate. Weather is the condition of the atmosphere at a particular place over a short period of time, whereas climate refers to the weather pattern, using statistical data, of a place over a long enough period to yield meaningful averages. Meteorology studies weather, while climatology studies climate; both are atmospheric sciences. Climate is an important physical element because it indicates the atmospheric condition of heat, moisture and circulation; it plays a dominant role in shaping vegetation and soil; and it ultimately
Weather risk management "Accounting for weather derivatives" provides guidance on accounting for weather derivatives that are not exchange–traded. Entities that enter into speculatives or trading non–exchange derivatives contracts should apply the intrinsic method. Weather risk management Weather risk management is a type of risk management done by organizations to address potential financial losses caused by unusual weather. Energy, agriculture, transportation, construction, municipalities, school districts, travel, food processors, retail sales and real estate are all examples of industries whose operations and profits can be significantly affected by the weather. For example, unusually mild winters diminish consumer demand for heating and erode the profit margins