Adapting to climate change through risk management

Abstract

Climate change, along with changes in hydrological variables, causes alterations in access to water resources, the intensification of extreme phenomena (such as droughts and floods), and economic, social, and environmental instability. Risk management emerges as an appropriate approach for increasing adaptation to climate change, characterized by its inherent flexibility and the reduction of uncertainties associated with climate change. This approach improves adaptive capacity through transformation and reversibility processes, ultimately reducing the system’s exposure and vulnerability to risks. In this chapter, we delve into key concepts and components related to risk and adaptation, including resilience, exposure, sensitivity, adaptive capacity, vulnerability, and their connections and interactions. Subsequently, we elucidate the methodology for enhancing climate change adaptation through risk management, utilizing a variety of processes and tools. Furthermore, we provide an illustrative example of the application of the portfolio robust decision-making tool for climate change risk management in the integrated water resources system.