ABSTRACT

Learning from the COVID-19 Pandemic to Address Climate Change [2020]   [open pdf - 0B]

From the Document: "COVID-19 [coronavirus disease 2019] has dramatically revealed the difficulties society faces in dealing with extreme global events. As of July 24, 2020, in the United States alone, more than 4.1 million people have contracted the coronavirus and close to 150,000 have died from it. These numbers would have been much lower if public and private sector leaders had: [1] Recognized the cognitive biases that obstruct effective decision-making and action; [2] Heeded the advice of experts; [3] Designed a risk management strategy that addressed cognitive biases and took the concerns of experts into account We begin by examining why the United States did not use these strategies during the early stages of COVID-19 and why it imposed social distancing measures only after illness and death from the coronavirus ballooned in mid-March 2020. Using the lessons of the COVID-19 pandemic, we propose ways to implement a risk management strategy that would reduce the damage from climate change in the coming years by significantly reducing carbon emissions."

Author:
Publisher:
Date:
2020
Series:
Copyright:
Management and Business Review
Retrieved From:
Wharton School. Risk Management and Decision Processes Center: https://riskcenter.wharton.upenn.edu/
Media Type:
application/pdf
Source:
MBR (2020), v.1 issue 1; Management and Business Review (2020), v.1 issue 1
URL:
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