Climate and energy policy are faced with the challenge of having to deal with interrelated uncertainties. In risk research, such uncertainties are referred to as integrated risks. In this context, the concept of risk is neutral in value and includes both positive futures (known in technical jargon as upside risks) and negative futures (downside risks). The focus of risk research is in particular on possible synergy effects between risks as well as questions on how to make sense of such synergies and which institutional structures are suitable for this purpose. Integrated Risk Governance is the research field in which these questions are dealt with. A key product of our research is the Integrated Risk Toolbox, which we designed for the BMBF-funded research project “Investment and the Energy Transition”. It entails different methods that can help to assess integrated risks such as Bayesian Risk Management (BRM) or stakeholder-based science approaches.
Weblink to the toolbox: https://globalclimateforum.org/fileadmin/ecf-documents/pdf/Integrated_Risk_Toolbox_31.3.2015.pdf