This chapter introduces the panel entitled “Reducing Climate Risk” by discussing three trends that are driving our reaction to climate risk as they unfold. First, we have begun the transition to the low-carbon high-efficiency (LCHE) economy. Large-scale commercialization of wind and solar is under way, and the energy efficiency stampede is not far behind. Progress is fitful, however, and it is far too slow. The second trend pertains to global warming. Some of the adverse consequences of global warming are already locked into the atmosphere. The food squeeze has begun, and we have begun to experience changes in water availability and regularity. A third trend is decreasing the ability of governments to buffer the volatility of all sorts of risks. The chapter asks: Are there sensible medium- and long-term investment opportunities with which to ride the trend toward an LCHE economy and support sound development at the same time? Are there ways to protect investments against climate-connected disruptions?
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