RiskIn simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is "effect of uncertainty on objectives".
Solar geoengineeringSolar geoengineering, or solar radiation modification (SRM), is a type of climate engineering in which sunlight (solar radiation) would be reflected back to outer space to limit or offset human-caused climate change. There are multiple potential approaches, with stratospheric aerosol injection (SAI) being the most-studied method, followed by marine cloud brightening (MCB). Other methods have been proposed, including a variety of space-based approaches, but they are generally considered less viable, and are not taken seriously by the Intergovernmental Panel on Climate Change.
Business risksThe term business risks refers to the possibility of a commercial business making inadequate profits (or even losses) due to uncertainties - for example: changes in tastes, changing preferences of consumers, strikes, increased competition, changes in government policy, obsolescence etc. Every business organization faces various risk elements while doing business. Business risk implies uncertainty in profits or danger of loss and the events that could pose a risk due to some unforeseen events in future, which causes business to fail.
Climate engineeringClimate engineering (also called geoengineering) is a term used for both carbon dioxide removal and solar radiation management, also called solar geoengineering, when applied at a planetary scale. However, they have very different geophysical characteristics which is why the Intergovernmental Panel on Climate Change no longer uses this overarching term. Carbon dioxide removal approaches are part of climate change mitigation. Solar geoengineering involves reflecting some sunlight (solar radiation) back to space.
Risk managementRisk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Climate changeIn common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to Earth's climate. The current rise in global average temperature is more rapid than previous changes, and is primarily caused by humans burning fossil fuels. Fossil fuel use, deforestation, and some agricultural and industrial practices increase greenhouse gases, notably carbon dioxide and methane.
Global warming potentialGlobal warming potential (GWP) is a measure of how much infrared thermal radiation a greenhouse gas added to the atmosphere would absorb over a given time frame, as a multiple of the radiation that would be absorbed by the same mass of added carbon dioxide (). GWP is 1 for . For other gases it depends on how strongly the gas absorbs infrared thermal radiation, how quickly the gas leaves the atmosphere, and the time frame being considered. The carbon dioxide equivalent (e or eq or -e) is calculated from GWP.
Climate riskClimate risk refers to risk assessments based on formal analysis of the consequences, likelihoods and responses to the impacts of climate change and how societal constraints shape adaptation options. Common approaches to risk assessment and risk management strategies based on natural hazards have been applied to climate change impacts although there are distinct differences. Based on a climate system that is no longer staying within a stationary range of extremes, climate change impacts are anticipated to increase for the coming decades despite mitigation efforts.
Marine cloud brighteningMarine cloud brightening also known as marine cloud seeding and marine cloud engineering is a proposed solar radiation management climate engineering technique that would make clouds brighter, reflecting a small fraction of incoming sunlight back into space in order to offset anthropogenic global warming. Along with stratospheric aerosol injection, it is one of the two solar radiation management methods that may most feasibly have a substantial climate impact.
Effects of climate change on agricultureThe effects of climate change on agriculture can result in lower crop yields and nutritional quality due to drought, heat waves and flooding as well as increases in pests and plant diseases. Climate change impacts are making it harder for agricultural activities to meet human needs. The effects are unevenly distributed across the world and are caused by changes in temperature, precipitation and atmospheric carbon dioxide levels due to global climate change. In 2019, millions were already suffering from food insecurity due to climate change.
Global dimmingThe first systematic measurements of global direct irradiance at the Earth's surface began in the 1950s. A decline in irradiance was soon observed, and it was given the name of global dimming. It continued from 1950s until 1980s, with an observed reduction of 4–5% per decade, even though solar activity did not vary more than the usual at the time. Global dimming has instead been attributed to an increase in atmospheric particulate matter, predominantly sulfate aerosols, as the result of rapidly growing air pollution due to post-war industrialization.
Stratospheric aerosol injectionStratospheric aerosol injection is a proposed method of solar geoengineering (or solar radiation modification) to reduce global warming. This would introduce aerosols into the stratosphere to create a cooling effect via global dimming and increased albedo, which occurs naturally from volcanic winter. It appears that stratospheric aerosol injection, at a moderate intensity, could counter most changes to temperature and precipitation, take effect rapidly, have low direct implementation costs, and be reversible in its direct climatic effects.
Attribution of recent climate changeEfforts to scientifically ascertain and attribute mechanisms responsible for recent global warming and related climate changes on Earth have found that the main driver is elevated levels of greenhouse gases produced by human activities, with natural forces adding variability. The likely range of human-induced surface-level air warming by 2010–2019 compared to levels in 1850–1900 is 0.8 °C to 1.3 °C, with a best estimate of 1.07 °C. This is close to the observed overall warming during that time of 0.9 °C to 1.
Financial riskFinancial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent. A science has evolved around managing market and financial risk under the general title of modern portfolio theory initiated by Harry Markowitz in 1952 with his article, "Portfolio Selection".
Effects of climate changeClimate change affects the physical environment, ecosystems and human societies. Changes in the climate system include an overall warming trend, more extreme weather and rising sea levels. These in turn impact nature and wildlife, as well as human settlements and societies. The effects of human-caused climate change are broad and far-reaching, especially if significant climate action is not taken. The projected and observed negative impacts of climate change are sometimes referred to as the climate crisis.
Greenhouse gas inventoryGreenhouse gas inventories are emission inventories of greenhouse gas emissions that are developed for a variety of reasons. Scientists use inventories of natural and anthropogenic (human-caused) emissions as tools when developing atmospheric models. Policy makers use inventories to develop strategies and policies for emissions reductions and to track the progress of those policies. Regulatory agencies and corporations also rely on inventories to establish compliance records with allowable emission rates.
Cirrus cloud thinningCirrus cloud thinning (CCT) is a proposed form of climate engineering. Cirrus clouds are high cold ice that, like other clouds, both reflect sunlight and absorb warming infrared radiation. However, they differ from other types of clouds in that, on average, infrared absorption outweighs sunlight reflection, resulting in a net warming effect on the climate. Therefore, thinning or removing these clouds would reduce their heat trapping capacity, resulting in a cooling effect on Earth's climate.
Climate change mitigationClimate change mitigation is action to limit climate change by reducing emissions of greenhouse gases or removing those gases from the atmosphere. The recent rise in global average temperature is mostly due to emissions from burning fossil fuels such as coal, oil, and natural gas. Mitigation can reduce emissions by transitioning to sustainable energy sources, conserving energy, and increasing efficiency. It is possible to remove carbon dioxide () from the atmosphere by enlarging forests, restoring wetlands and using other natural and technical processes.
ParticulatesParticulates or atmospheric particulate matter (see below for other names) are microscopic particles of solid or liquid matter suspended in the air. The term aerosol commonly refers to the particulate/air mixture, as opposed to the particulate matter alone. Sources of particulate matter can be natural or anthropogenic. They have impacts on climate and precipitation that adversely affect human health, in ways additional to direct inhalation.
Operational riskOperational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt business operations. Employee errors, criminal activity such as fraud, and physical events are among the factors that can trigger operational risk. The process to manage operational risk is known as operational risk management.
