Environmental Risk and Uncertainty

Environmental risk refers to the potential negative impacts human activities may have on the environment, such as pollution, habitat destruction, and climate change. Uncertainty in this context relates to the unpredictability of these impacts and the challenges in assessing future environmental conditions. In environmental economics, understanding both risk and uncertainty is crucial for making informed decisions about resource use, policy-making, and sustainability. Policymakers must weigh the benefits of economic activities against their potential environmental risks, often with incomplete information, to create effective strategies for conserving our environment for future generations.