CRL Wiki:Main Page
CLIMATE RISK LABORATORY
“Unlocking Climate Risk Insights for a Sustainable Future” WHO ARE WE? The Climate Risk Laboratory (CRL) is a group at the University of Washington that aims to disseminate information about climate risk to all, free of charge, through the Climate Risk Wiki. CRL’s aim is to organize, explain, and make accessible data that describes changing climates and the damages climate-related disasters inflict on the economies of the U.S. and Europe. This information on the Climate Risk Wiki will be used to drive solutions for businesses, governments, and researchers to address the financial, political and ecological impacts that climate change has and will continue to have on our society.
WHAT IS CLIMATE RISK? Climate risks are the negative impacts of climate change events on industry, governments, and individuals. These risks are estimated to incur trillions of dollars in damages in the next century as the climate continues to worsen.
CLIMATE RISK CATEGORIES Physical risks - Climate risks that pose a variety of financial consequences, including property damage and human illness. These climate risks include acute events, like extreme temperatures and climate disasters such as hurricanes, wildfires, and floods, and chronic events, like rising global temperatures, sea-level rise, and the extinction of animal, insect, and plant species. Data representing the physical risks of climate change include global temperature data, sea-level measurements, ocean temperatures during extreme temperature events, and damages to property in the wake of a natural disaster.
Transitional risks - The risks to society associated with changing policy and laws to address and mitigate climate change. These include increased costs to develop goods and provide services, reduced company output, and loss of assets. Data representing these risks include articles outlining changes in government policy and projected loss of revenue due to the implementation of such policy measures.
Liability risk- Also known as legal liability or legal risk, these risks refer to the potential for an individual, organization, or entity to be held legally responsible or accountable for actions, decisions, or events that may result in harm, loss, injury, or damage to others. In the context of liability risk, "liability" typically refers to the legal obligation to compensate or make amends for such harm or loss. Liability risks can arise in various situations, and they are an important consideration for individuals, businesses, and institutions.