CL3.2.7

Systemic risk refers to a risk of cascading failures that can spread within and across interconnected systems and sectors to eventually lead to existential impacts and systems collapse. In recognition that climate change is projected to lead to more frequent and more sever extreme weather events, natural hazards, and societal stress on different spatial and temporal scales, a systemic risk perspective is increasingly applied in the context of understanding climate impacts, resilience and adaptation.

In a warming, moistening, and increasingly connected world systemic risk is increased directly, by amplified climate-related hazards that overburden socio-environmental systems, and indirectly, by strengthened in interdependencies among sectors (such as food, health, water, energy, and transportation) and locations (such as via trade, supply chains, or finance) and changes in exposure and vulnerability to climate risks. Critical systems interdependencies amplified by underlying vulnerabilities highlight that there is a growing need to better understand current and future systemic risks, risk governance and societal responses in the context of a changing climate.

This session aims at addressing the most relevant and emerging topics regarding climate related systemic risk. We invite contributions that:

• Discuss climate change related systemic risks in the context of sustainable development and societal resilience.
• Present how systemic risk assessments may inform transformational and sustainable adaptation at various scales of action.
• Apply a dynamic framing of risk where i) changes in hydrometeorological hazards or societal vulnerabilities, ii) responses to the risks with potential side effects, iii) and interactions between risks are strongly considered.
• Improve understanding on root causes of systemic risk, including both biophysical and socio-economic aspects.
• Assess how resilient socio-environmental systems can be built in response, while embracing key intergovernmental agendas (e.g. the Paris Agreement, the Sendai Framework for Disaster Risk Reduction and the Sustainable Development Goals) or
• Discuss the complex interactions of (compounding) extreme weather events and societal systems through the lens of case studies or modelling.