Climate Uncertainty And Risk

Explore why climate change is important to business decision-making, and what business can do about it

Australia and the United States face very similar challenges in dealing with drought. Both countries cover a range of biophysical conditions, both are federations that provide considerable responsibility to state governments for water and land management, and both face the challenges in balancing rural industry and urban development, especially in relation to the allocation of water.

Climate change highlights the challenges for long-term policy making in the face of persistent and irreducible levels of uncertainties. It calls for the development of flexible approaches, innovative governance and other elements that contribute to effective and adaptive decision-making. Exploring these new approaches is also a challenge for those involved in climate research and development of adaptation policy.