Systemic risks are characterized by high complexity, multiple uncertainties, major ambiguities, and transgressive effects on other systems outside of the system of origin. Due to these characteristics, systemic risks are overextending established risk management and create new, unsolved challenges for policymaking in risk assessment and risk governance. Their negative effects are often pervasive, impacting fields beyond the obvious primary areas of harm. This article addresses these challenges of systemic risks from different disciplinary and sectorial perspectives. It highlights the special contributions of these perspectives and approaches and provides a synthesis for an interdisciplinary understanding of systemic risks and effective governance. The main argument is that understanding systemic risks and providing good governance advice relies on an approach that integrates novel modeling tools from complexity sciences with empirical data from observations, experiments, or simulations and evidence‐based insights about social and cultural response patterns revealed by quantitative (e.g., surveys) or qualitative (e.g., participatory appraisals) investigations. Systemic risks cannot be easily characterized by single numerical estimations but can be assessed by using multiple indicators and including several dynamic gradients that can be aggregated into diverse but coherent scenarios. Lastly, governance of systemic risks requires interdisciplinary and cross‐sectoral cooperation, a close monitoring system, and the engagement of scientists, regulators, and stakeholders to be effective as well as socially acceptable.

No abstract

The idea that universities should become entrepreneurial, commercialized, private commodities or should serve politicians and governmental agencies has been promoted by the university-industry-government relationship-based Triple Helix approach and is reality in many places. In contrast, a reemphasis on universities serving the public good has been demanded by proponents of transdisciplinary sustainability research. To better understand the tensions between public-good-oriented approaches of transdisciplinarity and entrepreneurial, market-oriented Triple Helix and third-mission approaches of science-practice collaboration, this paper takes a closer look at the history of universities' roles and functions. We then elucidate the practice of transdisciplinary processes and discuss the "science for and with society" approach of transdisciplinary sustainable transitioning. We argue that transdisciplinarity for producing groundbreaking sociotechnical solutions has to serve (a) the public good and (b) calls for independence, academic freedom, institutionalization, and proper funding schemes. Third-mission conceptions that follow the commercialization/capitalization of scientific knowledge are in conflict with the conception of science and of transdisciplinarity serving sustainable transitioning. The development of groundbreaking ideas for sustainable transitions must acknowledge the complexity and contextualization of real-world settings. Therefore, collaboration between practice and transdisciplinarity calls for the input and cooperation of authentic practitioners, i.e., the experts of practice and real wold complexity. The challenge of transdisciplinarity is to properly relate the fundamental expertise of practice to validated academic rigor. This implies that transdisciplinary research is a critical element of the university's research mission.Publisher's Note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.