Emerging Risks: Definition, Characteristics, and Governance

This lecture discusses the definition and characterization of risks, distinguishing between familiar risks and emerging risks marked by uncertainty. It explores types of emerging risks in complex systems and the importance of scientific knowledge in managing them. The lecture also covers creating the basic conditions for governing emerging risks, including establishing risk governance strategies, incentives for active monitoring, and strategies for anticipating and adapting to future uncertainties. Additionally, it outlines processes for emerging risk governance, such as scenario development, risk management options, and decision-making frameworks. The lecture concludes with a focus on understanding the present, exploring future scenarios, and identifying contributing factors to risk emergence.