Vocabulary | Definition |
Adaptation |
Process of adjustment to actual or expected climate and its effects. |
Adaptive Capacity |
The ability of systems, institutions, humans and other organisms to adjust to potential damage, to take advantage of opportunities, or to respond to consequences. |
Climate Hazard |
Specific impactful event as related to the broader climate parameter category. |
Climate Hazard Indicator |
Specific climate values (TMax > 35C; Precip > 100mm; Freezing Rain > 30 mm, etc.) that are defined by their ability to impact an infrastructure system or component (i.e., exceed a threshold). |
Climate Parameter |
Broader categories of measurable climate conditions in relation to which specific climate hazards or indicators can be defined. Climate parameters include temperature, precipitation, sea-level rise, wind, etc. |
Consequence |
Outcome of an event affecting objectives. |
Exposure |
The presence of people, livelihoods, species or ecosystems, environmental functions, services, resources, infrastructure, or economic, social or cultural assets in places and settings that could be affected. |
Element |
A distinct part of an asset or system. Could include physical, planning or human resources. |
Likelihood |
Chance of something occurring; within the context of climate risk assessment, the chance of a defined climate hazard over a given time horizon. |
Portfolio |
A collection of assets or policies that are characterized by different risks. |
Probability |
Measure of the chance of occurrence expressed as a number between 0 and 1, where 0 is impossibility and 1 is absolute certainty. |
Residual Risk |
Risk remaining after risk treatment. |
Resilience |
The capacity to cope with a hazardous event, trend or disturbance, responding or reorganizing in ways that maintain their essential function, identity and structure. |
Risk |
Effect of uncertainty on objectives. This guide applies the following formula as a measure of risk. Risk = Exposure x Likelihood x Consequence. |
Risk Appetite |
Amount and type of risk that an organization is willing to pursue or retain. |
Risk Tolerance |
Readiness to bear the risk after risk treatment. |
Risk Treatment |
Process to modify risk. |
Threshold |
Point beyond which a system, because of physical damage or failure, is deemed to be no longer effective or safe: Economically; Socially; Technologically; Physically; or Environmentally. Also known as tipping point. |
Vulnerability |
Propensity or predisposition to be adversely affected. |