The risk landscape has changed significantly over the last decades. With new and emerging risks and risk magnifiers such as climate change, cyber threats, infectious diseases and terrorism, countries need to anticipate and prepare for the unexpected and difficult to predict.
Support the anticipation and management of shock events through:
-Improving planning processes
-Establishing broader risk-uncertainty frameworks that capture such events
-Enhancing business resilience and responses to shock
-Improving communications in a crisis
-Increased understanding of high-impact low-probability events in the short and medium term -Provide improved methods/tools for decision-making under uncertainty to prepare for high-impact low-probability events
-Develop improved mapping of i) socioeconomic systems’ interdependencies that can be negatively affected by high-impact low-probability events, and ii) which systems contribute to the materialisation of high-impact low-probability risks by increasing societal vulnerability.