IRGC's approach to emerging risks

As a follow up to the development of the International Risk Governance Council (IRGC) risk governance framework with Prof. Ortwin Renn, IRGC has focused its attention on identifying commonly recurring 'deficits' in risk governance -- defined as deficiencies or failures in risk governance structures and processes -- and to understand their causes and how they can be prevented or mitigated through improved assessment, management and communication. This article summarises two recently published IRGC reports. It presents the concept of risk governance deficit and how it can be used. It gives a brief description of each deficit, grouped in two clusters, relating to risk assessment and to risk management. The article then presents the concept of 'contributing factors' related to how and why new risks emerge and provides a summary table of these factors. This approach can contribute to the development of effective systems to further improve existing industrial, environmental and workplace safety governance.