Wharton Risk Management and Decision Processes Center

The Wharton Risk Management and Decision Processes Center, established in 1985, is a research center affiliated with the Wharton School at the University of Pennsylvania. Engaging students and faculty throughout the University in collaborations, research projects, and other partnerships, the Center is recognized worldwide as a leader in risk-related research and policy analysis. The Risk Center also serves as a bridge between scholars at Penn and organizations and decision-makers in the public and private sectors.


Call for Wharton Faculty Research Proposals: Climate & Sustainability

Learn more about the funding proposal guidelines here.

Postdoctoral Research Position in Climate Risk Management

See instructions for submitting an application here.

Understanding U.S. Climate Risk Disclosures

Investors are increasingly climate-conscious, and the SEC recently asked for input on potential changes to climate disclosure guidance. Read the most recent primer for an overview of these risks and the state of climate disclosures, along with how they might change moving forward.

Read more.

Community-Based Catastrophe Insurance

This report, produced in partnership with Marsh & McLennan and Guy Carpenter, looks at community-based catastrophe insurance (CBCI), a new model of catastrophe insurance delivery to secure widespread coverage and help sustain communities following a catastrophic event.

Read more about CBCI.


Low- and moderate-income (LMI) households and communities suffer disproportionately from disasters, and there are a few policies or programs to help them achieve post-disaster financial resilience. This brief is intended to help policymakers begin the conversation about what new or supplemental policies could help LMI households in at-risk areas.

Read more about the policy options.

Covid-19 Response (1)

The world continues to struggle with the spread of the novel coronavirus and the impacts are rippling through the global economy. Sound risk management is more important than ever. At the Wharton Risk Center, we engage with our partners to meaningfully support management of evolving threats, such as this one.

Risk Center resources and contributions from our scholars will be added to the site as made available. See the resources here.

Featured Publications

In the News

EV Turning Point: Momentum Builds for U.S. Electric Vehicle Transition


“Driven by GM, Tesla, and the Biden administration, the U.S. is now poised to press ahead in the transformation to electric vehicles. Big challenges still loom, but technological advances, government support, and growing consumer appeal will drive the inevitable switch to EVs” write Affiliated Scholars, John Paul Macduffie and Sarah E. Light in this article.

Read the full article here.

New Data Reveal Where Flood Damage Is An Existential Threat


“If you don’t have the finances you need to recover, then families have to make really difficult trade-offs, like maybe forgo spending on medical expenses because otherwise you don’t have a safe home,” says Carolyn Kousky in this NPR article discussing data released by the First Street Foundation, a nonprofit research organization that studies flood risk and housing.

Read the full article.

Why Biden should launch an Ecosystem Restoration Corps in 2021

The Hill

Natural areas provide critical ecosystem services, yet they are being degraded by pollution, stressed by climate change, ravaged by invasive species, and fragmented to the point of collapse. Carolyn Kousky proposes an Ecosystem Restoration Corps as a first step to improving the health of our ecosystems, while also providing meaningful employment during the Covid-19 downturn.

Read the full op-ed.

A Climate Resilience Roadmap for the Next Administration


“Public policy plays a critical role in either attenuating or magnifying the economic costs of climate change. It is time to put the United States on a path toward climate resilience.” Executive Director, Carolyn Kousky, offers an 8-part federal policy agenda for the new Biden Harris administration to consider.

See full article here.


Wharton Risk Management
and Decision Processes Center

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