Is climate change really about risk management?

This post is a sequel to Chris's post about the Munk debates on climate change.

According to Greg Craven, climate change is a game of risk management. As he explains in the video, we can take action on "global warming" and spend trillions of dollars doing this. But, what if global warming is "false"? Then we run ourselves into a global depression. Or we spend trillions of dollars and we benefit through this as it greatly minimizes the risks associated with global warming. Or we do nothing (status quo) and global warming does not prove to be as catastrophic as it was predicted to be. Here we do not take action, nothing significant happens and we save $$$. And if we don't take action and it actually happens.... well, then we are screwed.

I am just summarizing the video. Watch it with a critical eye. There is so much controversy surrounding this issue, how much thought have you given climate change? For you, is climate change a question of risk management? Or is it more of a science issue or political problem? Feel free to share thoughts about the video on enviroboys. We always welcome comments.

If you want to know more about Greg Craven, see here.