When we think about the risks to a business's viability, or the threats to a nation's security, we normally ask the question 'What is the worst that could happen?'
Having identified the greatest risks, we can then decide how much effort to spend on reducing or avoiding them. Climate change, surely, should be no different. How else should a head of government decide how much effort to spend on reducing global emissions of greenhouse gases, other than by considering the worst case consequences of failing to do so?
Here is another reason for taking seriously worst case scenarios. Some have argued the rational response to climate change is to focus on adaptation. It is too difficult and uncertain, some claim, to anticipate the effects of climate change. Better then to wait and see what climate change serves up to us, and respond then as best we can. But this assumes that impacts are manageable. What if the limits to adaptation are exceeded?
Over the last year, I have worked with scientists and experts in risk from India, the UK, the US, and China to try to understand those worst case consequences a bit more clearly. The work was led by Sir David King, the UK Foreign Secretary's Special Representative for Climate Change, and was officially launched at the London Stock Exchange earlier this week.
To give one example: we all know that as the world becomes warmer, heat waves will become more extreme. The worst case scenario is that heat waves become so extreme that they are fatal for anyone without air conditioning, even people resting in the shade. Such extreme conditions do not apply now, anywhere.