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Climate risk management is a generic term referring to an approach to climate-sensitive decision making. The approach seeks to promote sustainable development by reducing the vulnerability associated with climate risk.
Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. [ 22 ] [ 23 ] [ 24 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
In 2015, the FSB created the Task Force in order to develop recommendations of voluntary disclosures for listed companies. However, ahead of the COP26 summit (2021), the UK responded to the clear 'leadership vacuum on climate change governance' [7] to become the first G20 country to mandate 1,300 of the UK's largest private companies to disclose climate-related data in line with the TCFD ...
Climate services are systems to deliver the best available climate information to end-users in the most usable and accessible formats. They aim to support climate change adaptation, mitigation and risk management decisions. There is a vast range of practices and products for interpreting, analyzing, and communicating climate data.
Risk management is the identification, evaluation, and prioritization of risks, [1] ... so communicating that risk is an important climate communication practice, ...
The Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. It is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making. [ 108 ]
However, from a risk management perspective, values outside of "likely" ranges are relevant, because, though these values are less probable, they could be associated with more severe climate impacts [71] (the statistical definition of risk = probability of an impact × magnitude of the impact).
The World Conference on Disaster Risk Reduction is a series of United Nations conferences focusing on disaster and climate risk management in the context of sustainable development. The World Conference has been convened three times, with each edition to date having been hosted by Japan: in Yokohama in 1994, in Hyogo in 2005 and in Sendai in 2015.