Risk

The potential for adverse consequences for human or ecological systems, recognising the diversity of values and objectives associated with such systems. In the context of climate change, risks can arise from potential impacts of climate change as well as human responses to climate change. Relevant adverse consequences include those on lives, livelihoods, health and wellbeing, economic, social and cultural assets and investments, infrastructure, services (including ecosystem services), ecosystems and species. (IPCC-2021, AR6-WGI; IPCC-2022, AR6-WGII & WGIII)The word “potential” makes clear that uncertainty, or more broadly, incomplete knowledge (as defined in IPCC), is a key element of the concept of risk. This uncertainty does not necessarily have to be quantified, but authors need to provide some sense of the nature and degree of uncertainty to allow a meaningful risk assessment and risk management responses to be undertaken. (IPCC-2020, Guidance for IPCC authors)