The full specification of scenarios is described in Annex 3.A1.2 and a background on extreme events used to design the scenario SD is provided in Annex 3.A 1.3. Results are presented below as relative differences in production, international trade and prices between the different simulations and the baseline with no shock. First, the selected hotspot regions are defined based on selected river basins, so they may not be exactly fit the previously defined hotspots. Second, the shocks are proxy water stresses rather than realistic water shocks, as per IMPACT 3.1 version, which does not include a full integration of hydrogeological systems with agriculture (see Annex 3.A1.2).11 Third, each of the exogenous shock parameter was set up to stress the system in, but it may not reflect actual shocks. Fourth, because hydro climatic shocks are generally not independent, the scenario proposed do not account for water-related events that could happen in other regions of the world. Fifth, the two climate scenarios present two possible projections among other possible.