2.2. Risk

Understanding risk frameworks for environmental and sustainability issues requires an understanding of the language of risk, the tools used to quantify risk, and the use of risk in regulation. This section addresses each of these prerequisites for understanding the use of risk frameworks.

2.2.1. Definitions

Risk is defined as the potential for an individual to suffer an adverse effect from an event. The concept of risk is used in many disciplines, such as finance, engineering, and health, and the precise definition of risk can vary, depending on the application. Environmental risks, which are the focus of this chapter, can be grouped into three general categories:

• Risks involving voluntary exposure: Activities done for a living or for enjoyment (firefighting, skydiving, mountain climbing, bungee cord jumping, etc.). The risk (danger) is usually obvious and the activity is usually done by free will.