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The article discusses the increasing concerns surrounding floods, fires, and droughts as extreme climate events and the urgent need to improve risk assessment and management abilities. It emphasizes the importance of conducting comprehensive climate risk assessments to develop effective strategies for mitigating the impacts of these disasters, particularly in marginalized and vulnerable communities. The article highlights the importance of both prospective and retrospective risk assessment methods/tools in understanding climate impacts and managing current and future climate change risks. However, it also identifies several major knowledge gaps in the field, such as the lack of locally relevant climate risk indicators and tools, limited understanding of socioeconomic impacts, and the need for standardized metrics and comprehensive consideration of vulnerability. The article calls for further research and the development of innovative tools to increase climate-related risk assessment and management, incorporating participatory community research and leveraging technological advancements. It also emphasizes the importance of cross-sectional collaboration to ensure that climatic risk assessments are incorporated into policy and decision-making processes. [Extracted from the article]