Risk Management on Climate Change and Economy

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Risk Management on Climate Change and Economy
Research indicates that global warming is one of the major challenges affecting the world. Evidence shows that global warming is a reality and it is occurring fast than the humankind thinks. It has been observed that there is no particular extent set by researchers and scientists on the level of the risks posed to the organizations and the society (Labatt and White 57). Strategies to assist in the management of the global warming are inadequate. The economy is affected by the climate change adaptation measures in managing the prevailing risks.
It has been noted that the risk assessment frameworks are compatible with the climate change adaptation processes (Mallon 101). The approaches resonate with the risk assessment recommended in the global and local levels in the management of the global warming. This is considering the climate predictions and setting up probable actions in mitigating the global challenge, this is critical in developing a management system that deals with the adaptation management processes suitable for risk identification and risk scoping (Preston and Jones 11).
Risk management in the economy is influenced by the climatic changes in exploring and acting on decisions previously made in times of uncertainty. Research indicates that risk management in the global warming defines the structures, processes and culture in realizing potential benefits at times of managing adverse effects. This is directly proportional to management of the climate risks and developing sound adaptation processes (Mallon 63). Scientists have paid considerable attention to managements of uncertainties in enhancing greenhouse effect.
Risk management approach in the economy and climate change is vital in the adaptation processes in managing the impacts realized (Preston and Jones 06). Adaptations are geared at reducing harm taking the positive side of the impact, managing effectively the limitations and uncertainties in mitiga...