Risk transfer
AR5 Climate Change 2014: Impacts, Adaptation, and Vulnerability, Glossary, published by the Intergovernmental Panel on Climate Change (IPCC) defines risk transfer as: ‘The practice of formally or informally shifting the risk of financial consequences for particular negative events from one party to another.’
Glossary: Resilience, published by the Department for International Development in 2016, defines risk transfer as a situation in which: '...the burden for financial loss or responsibility is transferred to another party e.g. international donors (aid) or market-based mechanisms including insurance and securities such as catastrophe bonds.'
risk retention as a situation in which: ‘..one party retains financial responsibility for loss in the event of a shock. Governments typically hold risk through government reserves, contingency funds, contingent credits and loans.’
This is as opposed to risk retention, in which: ‘..one party retains financial responsibility for loss in the event of a shock. Governments typically hold risk through government reserves, contingency funds, contingent credits and loans.’
[edit] Related articles on Designing Buildings
Featured articles and news
Be alert to special features and techniques.
Practising Architect and Director of Sheldon Peever Studio.
Biodiversity net gain, tips and tools for small sites
How to deal with BNG when options become limited.
Registered building inspectors
Building types and conflicts of interest updates explained.
A brief run-down reminder of key points to note.
New electrical apprentice rates
Fair pay for much needed pipeline of electrical apprentices.
BSRIA's commitment to sustainability and net zero
Key documents that represent an early shift in thinking.
A resource for Cleaner Air, Better Tomorrow.
Awe-inspiring medieval great barns.
A history of timber construction in the UK
From a timber Stonehenge to half timber houses.
Engineering services still struggle with labour shortages
According to latest quarterly services survey of the sector.
Infrastructure that connect the physical and digital domains.
BSRIA announces Lisa Ashworth as new CEO
Tasked with furthering BSRIA’s impressive growth ambitions.
Public buildings get half a million energy efficiency boost
£557 million to switch to cleaner heating and save on energy.
CIOB launches pre-election manifesto
Outlining potential future policies for the next government.
Comments
[edit] To make a comment about this article, or to suggest changes, click 'Add a comment' above. Separate your comments from any existing comments by inserting a horizontal line.