What is the difference between risk remediation and risk mitigation?

Risk remediation involves taking corrective actions to eliminate or reduce identified risks to acceptable levels, often through specific measures or changes. In contrast, risk mitigation focuses on strategies to minimize the impact or likelihood of risks, which may include implementing preventive measures or transferring risk through insurance. While remediation aims for a definitive resolution, mitigation accepts that some risks may still exist but seeks to lessen their potential effects.