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Risk Governance

Risk governance includes risk assessment, risk management, and risk communication, which requires understanding of formal and informal institutions, socioeconomic contexts within which risk is evaluated, and the involvement of actors and stakeholders who represent them in political and policy arenas ranging from the local to global level. The stakeholders and actors range from grassroots communities, civil society organizations, executive government and legislators, international financial institutions, the United Nations (UN), and university-based experts or academics.

Every unit or level of society has its own sources of risks, which can either be exogenous or endogenous. Exogenous agents are natural hazards such as earthquakes, volcanic activities, tsunamis, and cyclones. Endogenous agents are human-made hazards such as terrorism, war, and conflict. The combination of both exogenous and endogenous agents could ...

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