Risk

Afactorthat could result in future negative consequences; usually expressed as impact and likelihood.

(1) Potential realization of unwanted consequences of an event, a function of the probability and the value of the consequence. (2) Also sometimes used as the probability of occurrence of an event of a given or greater magnitude within a specified period of time.

The potential for consequences where something of value is at stake and where the outcome is uncertain, recognizing the diversity of values. Risk is often represented as probability of occurrence of hazardous events or trends multiplied by the impacts if these events or trends occur. Risk results from the interaction of vulnerability, exposure, and hazard. In this report, the term risk is used primarily to refer to the risks of climate-change impacts.