Accounting for Risk and Uncertainty in Climate Policy Assessment: Final Report

Accounting for Risk and Uncertainty in Climate Policy Assessment: Final Report

Authors:   Ackerman F, Stanton EA, Chalabi Z, Mechler R, Scrieciu S, Cheung W, Belton V

Publication Year:   2011

Reference:  Stockholm Environment Institute (May 2011)

Additional guidance supporting UNEP's MCA4climate initiative: A practical framework for planning pro-development climate policies. Available at sei-us.org/Publications_PDF/SEI-MCA4climate-Risk-Uncertainty.pdf

Abstract

Problems of risk and uncertainty arise throughout the assessment of climate change and the development of climate policy. Both the climate system and the economic system are characterized by long time lags and complex causal connections; over long periods of time, both climate and economic outcomes are necessarily uncertain.
In view of the centrality of risk and uncertainty to climate assessment, it will be helpful to begin by clarifying the meaning of these concepts. Recommended approaches to risk and uncertainty are addressed in the final section in this document.

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