All these challenges must be tackled within a context of climate uncertainty, which poses its own particular problems with respect to the assessment of policy options: different climate scenarios may require different policy options. Making decisions under scenarios characterized by uncertainty may increase the risk of path dependence and under- or overinvestment, depending on whether or not the climate hazards actually materialize and if they do, on their characteristics. Proper timing and phasing of actions, including the separation of those requiring immediate attention from those that can be deferred or that cannot be pursued without additional information, is a first step towards incorporating uncertainties into the process of designing and implementing policy interventions (Watkiss, 2015, Wong and others, 2014).