Climate Adaptation and Risk Management

IPCC’s recently released 5th Assessment Report shows that anthropogenic climate change is real, already affecting all continents and oceanic systems and that decisive response in terms of cutting emissions and adapting to impacts is necessary, urgent and affordable. At the same time, this global expert review (particularly through the contribution of its Working Group II on ‘Impacts, Adaptation, and Vulnerability’) demonstrates that climatic and non-climatic stressors interact in multiplying existing and future threats to ecosystems, livelihoods and the economy. Innovatively, findings of the report are presented in terms of a large scale risk anal-ysis identifying todays and future risks as well as options for tackling those risks. In terms of economics and support for decision-making on impacts and adaptation, the report suggests that thinking has stepped beyond a strict focus on cost-benefit analysis and identification of optimal adaptation to giving stronger consideration to multi-metric evaluations, with particu-lar emphasis given to notions of risk and uncertainty.

Uptake and interpretation of the report varied largely, but one media outlet, The Econo-mist, went so far as suggesting that this risk perspective and findings implied that “climate exceptionalism, the notion that global warming is a problem like no other, is coming to an end.” The talk presents recent insights and implications arising from the IPCC process and argues that this is only part of the story, and, while ‘good’ development and disaster risk man-agement are essential for responding to climate change, a comprehensive climate risk man-agement perspective has to address unique mitigation and adaptation challenges.