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Global scope: To be considered global, a risk should have the potential to affect (including both primary and secondary impact) at least three world regions in at least two different continents. While these risks may have regional or even local origin, their impact can potentially be felt globally.
RepRisk was formed in 1998 [1] as ECOFACT, [25] a Zurich-based environmental and social risk consultancy focused on the financial sector. In 2006, its ESG risk database was created at the request of UBS, and in 2010, RepRisk split from the consultancy and became an independent company.
Several tools can be used to assess risk and risk management of natural disasters and other climate events, including geospatial modeling, a key component of land change science. This modeling requires an understanding of geographic distributions of people as well as an ability to calculate the likelihood of a natural disaster occurring.
Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. [1] [2] The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. [1] [3]
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm).
Euromoney's quarterly country risk index “Country Risk Survey” monitors the political and economic stability of 185 sovereign countries. Results focus foremost on economics, specifically sovereign default risk and/or payment default risk for exporters (a.k.a. “trade credit” risk).
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Probability is really important in a debate Probability has to have some substantiated historical evidence beyond theory to move to precedence or initial risk already incurred. Timeframe (one impact will happen sooner) e.g. An asteroid impact will cause extinction before Global warming will, therefore an asteroid impact outweighs Global Warming.