Organization: World Bank Group
Governments invest billions of dollars annually in preparing for natural disasters. But the presence of deep uncertainties linked to climate change and other future conditions pose formidable challenges to making near-term decisions that make long-term sense. Methods that identify robust decisions have been recommended for investment lending but are not yet widely used. In this interactive session, we introduced participants to the principles of decision making under deep uncertainty and where these approaches stand vis-a-vis traditional risk analysis. We then presented how at the World Bank we are applying these methods to help clients make robust investment decisions in different sectors. Finally, we discussed challenges and opportunities for participants to apply these methodologies into their work.