Title: On the governance of global and catastrophic risks

Authors: M.H. Faber

Addresses: DTU – Department of Civil Engineering, Technical University of Denmark, Brovej, Bygning 118, DK-2800, Denmark

Abstract: The focus of the present paper regards the identification and treatment of critical issues in the process of societal decision making concerning management of global and catastrophic risks. Taking basis in recent works by the author, the paper in particular addresses: 1) Which are the most relevant hazards in a holistic global perspective and how may these be categorised in view of strategies for their treatment?; 2) How might robust societal decisions on risk management subject to large uncertainties be formally supported?; 3) How may available economic resources be prioritised for the purpose of sustainable and global life safety and health improvements? Finally, new results and perspectives are presented on the issue of allocation of resources for the purpose of improving global public health and a discussion on global risk governance concludes the paper.

Keywords: global risks; decision-making; sustainability; sustainable development; risk governance; critical issues; societal decisions; hazards; holistic perspectives; global perspectives; hazard categorisation; uncertainty; economic resources; resource prioritisation; safety; health; life improvements; resource allocation; public health; risk assessment; risk management; catastrophic risks; catastrophes.

DOI: 10.1504/IJRAM.2011.043698

International Journal of Risk Assessment and Management, 2011 Vol.15 No.5/6, pp.400 - 416

Received: 01 Apr 2011
Accepted: 29 May 2011

Published online: 28 Feb 2015 *

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