3.3.3 Governance of ESTP impacts

Guided by these challenges and the principles introduced in Chapter 3.1, especially anticipation, polycentricity/multi-scale governance, systemic risk governance, and equity and justice, here we explore where and how impact governance related to ESTPs could take place. We begin with a discussion of multiple objectives of impact governance and how to prioritise these (3.3.3.1). Sub-section 3.3.3.2 applies the concept of polycentricity to ESTP impact governance, including the need for diversity, redundancy and flexibility in response capacity. We use examples from the UNFCCC (adaptation, loss and damage) and international migration, to illustrate opportunities and challenges in the existing landscape of governance institutions, especially at the global scale. We consider cascade prevention from a systemic risk governance perspective in 3.3.3.3 and the need to generate reliable early warning signals and systems in 3.3.3.4. Finally, we discuss equity and justice implications for future impact governance efforts (3.3.3.5). This is a domain where the social science knowledge and evidence base is particularly thin, and our discussion is to a large extent speculative.

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