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.
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.
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.
NEW ISSUE BRIEF
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.
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.
In the News
How to Overcome Cognitive Biases Against Climate Action
The Hill
“The Biden administration has clearly indicated that climate change is a critically important issue on its agenda. Given the polarization of the country, a challenge that has not been adequately addressed is convincing property owners with varying political views to undertake measures, such as investing in solar panels, that will reduce greenhouse gas emissions.” Howard Kunreuther and Robert Meyer discuss cognitive biases that prevent people from investing.
The Case for Responsible Business
Wharton Magazine – Spring/Summer 2021
Witold Henisz, Director of the Political Risk Lab and Affiliated Scholar of the Business, Climate and Environment Lab, appears in the Spring/Summer issue of Wharton Magazine. “[Firms] don’t just exist in isolation, and they — and their investors — have to take those factors into account.”
EV Turning Point: Momentum Builds for U.S. Electric Vehicle Transition
YaleEnvironment360
“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.
New Data Reveal Where Flood Damage Is An Existential Threat
NPR
“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.
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