Tipping points in the climate systemIn climate science, a tipping point is a critical threshold that, when crossed, leads to large and often irreversible changes in the climate system. If tipping points are crossed, they are likely to have severe impacts on human society. Tipping behavior is found across the climate system, in ecosystems, ice sheets, and the circulation of the ocean and atmosphere. Tipping points are often, but not necessarily, abrupt. For example, with average global warming somewhere between and , the Greenland ice sheet passes a tipping point and is doomed, but its melt would take place over millennia.
Abrupt climate changeAn abrupt climate change occurs when the climate system is forced to transition at a rate that is determined by the climate system energy-balance, and which is more rapid than the rate of change of the external forcing, though it may include sudden forcing events such as meteorite impacts. Abrupt climate change therefore is a variation beyond the variability of a climate. Past events include the end of the Carboniferous Rainforest Collapse, Younger Dryas, Dansgaard-Oeschger events, Heinrich events and possibly also the Paleocene–Eocene Thermal Maximum.
Disaster risk reductionDisaster risk reduction (DRR) sometimes called disaster risk management (DRM) is a systematic approach to identifying, assessing and reducing the risks of disaster. It aims to reduce socio-economic vulnerabilities to disaster as well as dealing with the environmental and other hazards that trigger them.
Solar geoengineeringSolar geoengineering, or solar radiation modification (SRM), is a type of climate engineering in which sunlight (solar radiation) would be reflected back to outer space to limit or offset human-caused climate change. There are multiple potential approaches, with stratospheric aerosol injection (SAI) being the most-studied method, followed by marine cloud brightening (MCB). Other methods have been proposed, including a variety of space-based approaches, but they are generally considered less viable, and are not taken seriously by the Intergovernmental Panel on Climate Change.
Summative assessmentSummative assessment, summative evaluation, or assessment of learning is the assessment of participants in an educational program. Summative assessments are designed to both assess the effectiveness of the program and the learning of the participants. This contrasts with formative assessment, which summarizes the participants' development at a particular time in order to inform instructors of student learning progress. The goal of summative assessment is to evaluate student learning at the end of an instructional unit by comparing it against a standard or benchmark.
Climate variability and changeClimate variability includes all the variations in the climate that last longer than individual weather events, whereas the term climate change only refers to those variations that persist for a longer period of time, typically decades or more. Climate change may refer to any time in Earth's history, but the term is now commonly used to describe contemporary climate change. Since the Industrial Revolution, the climate has increasingly been affected by human activities.
Relative riskThe relative risk (RR) or risk ratio is the ratio of the probability of an outcome in an exposed group to the probability of an outcome in an unexposed group. Together with risk difference and odds ratio, relative risk measures the association between the exposure and the outcome. Relative risk is used in the statistical analysis of the data of ecological, cohort, medical and intervention studies, to estimate the strength of the association between exposures (treatments or risk factors) and outcomes.
Risk perceptionRisk perception is the subjective judgement that people make about the characteristics and severity of a risk. Risk perceptions often differ from statistical assessments of risk since are affected by a wide range of affective (emotions, feelings, moods, etc.), cognitive (gravity of events, media coverage, risk-mitigating measures, etc.), contextual (framing of risk information, availability of alternative information sources, etc.), and individual (personality traits, previous experience, age, etc.) factors.
Systemic riskIn finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to the risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system. It can be defined as "financial system instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries".
Educational assessmentEducational assessment or educational evaluation is the systematic process of documenting and using empirical data on the knowledge, skill, attitudes, aptitude and beliefs to refine programs and improve student learning. Assessment data can be obtained from directly examining student work to assess the achievement of learning outcomes or can be based on data from which one can make inferences about learning. Assessment is often used interchangeably with test, but not limited to tests.
Risk premiumA risk premium is a measure of excess return that is required by an individual to compensate being subjected to an increased level of risk. It is used widely in finance and economics, the general definition being the expected risky return less the risk-free return, as demonstrated by the formula below. Where is the risky expected rate of return and is the risk-free return. The inputs for each of these variables and the ultimate interpretation of the risk premium value differs depending on the application as explained in the following sections.
Financial risk managementFinancial risk management is the practice of protecting economic value in a firm by managing exposure to financial risk - principally operational risk, credit risk and market risk, with more specific variants as listed aside. As for risk management more generally, financial risk management requires identifying the sources of risk, measuring these, and crafting plans to address them. See for an overview. Financial risk management as a "science" can be said to have been born with modern portfolio theory, particularly as initiated by Professor Harry Markowitz in 1952 with his article, "Portfolio Selection"; see .
