Efforts to diagnose the risks of a changing climate often rely on
downscaled and bias-corrected climate information, making it important
to understand the uncertainties and potential biases of this approach.
Here, we perform a variance decomposition to partition uncertainty in
global climate projections and quantify the relative importance of
downscaling and bias-correction. We analyze simple climate metrics such
as annual temperature and precipitation averages, as well as several
indices of climate extremes. We find that downscaling and
bias-correction often contribute substantial uncertainty to local
decision-relevant climate outcomes, though our results are strongly
heterogeneous across space, time, and climate metrics. Our results can
provide guidance to impact modelers and decision-makers regarding the
uncertainties associated with downscaling and bias-correction when
performing local-scale analyses, as neglecting to account for these
uncertainties may risk overconfidence relative to the full range of
possible climate futures.