In periodic assessment reports of the UN’s Intergovernmental Panel on Climate Change (IPCC) – the next of which is due to be published next year – key findings are displayed in an array of charts, maps and other graphics. These figures are intended to help readers understand often complicated topics. But do decision-makers correctly interpret them? And do decision-makers know which graphics they do or do not understand?
Spurious methods used in neoclassical economics have resulted in a gross underestimation of the potential economic harm caused by climate change. Correcting for such errors makes it feasible that the economic damages from climate change are at least an order of magnitude worse than forecast by economists, and may be so great as to threaten the survival of human civilization.
Ice sheets in Greenland and Antarctica whose melting rates are rapidly increasing have raised the global sea level by 1.8cm since the 1990s, and are matching the Intergovernmental Panel on Climate Change’s worst-case climate warming scenarios. Understanding the likelihood and implications of climate scenarios like this one is vital for planning effective responses, and is at the heart of what we do at Riskthinking.ai.
The Covid-19 pandemic could be a dry run for future impacts of climate change, with challenging and unprecedented situations requiring rapid and aggressive responses worldwide. A proactive approach to climate change aimed at minimizing such impacts will inevitably involve significant cuts in greenhouse gas (GHG) emissions and investment in more resilient infrastructure. Although current global mitigation and adaptation efforts are proceeding slowly, one emerging strategy could serve as an accelerant: the financial disclosure of climate risk by companies. Such disclosure, if practiced more widely and consistently, could lower the risks of climate change by redirecting investments away from GHG-emitting activities and pinpointing infrastructure that needs to be made more resilient.
Developing scenarios that enable the disclosure of financial risks related to climate change is precisely what we do at Riskthinking. To learn more, visit the Home page or drop us a line: [email protected]
New climate models show carbon dioxide is a more potent greenhouse gas than previously understood, a finding that could push the Paris treaty goals for capping global warming out of reach, scientists have told AFP.
This Special Report contributes to frame the challenge of dealing with extreme weather and climate
events as an issue in decisionmaking under uncertainty, analyzing response in the context of risk management. The
report consists of nine chapters, covering risk management; observed and projected changes in extreme weather and
climate events; exposure and vulnerability to as well as losses resulting from such events; adaptation options from the
local to the international scale; the role of sustainable development in modulating risks; and insights from specific
Riskthinking.ai translates the contents of reports like this one into forward-looking scenarios-tools that drive action.