Each turn, the game may generate a number of random events that will happen to your nation. Each event is centered in a province and results in a benefit or drawback (or both); these are classified as "good events" or "bad events" in the game. Most events are simple one-and-done occurrences, but some "story events" lead to event chains that you can influence.
Good events may:
Bad events may:
Turmoil increases the number of events you receive; Order decreases it.
Luck increases the chance an event is good, while Misfortune increases the chance an event is bad. Both increase the number of events.
This generally means that Turmoil/Misfortune is especially dangerous.
Events also thematically depend on the scales, dominion, province defense, terrain, etc., of the provinces in which they occur. For instance, events that give you free gems are more likely to occur in magic scales, while events that kill population are more likely to occur in death scales.
Some magic rituals create events in the provinces they target, obscuring the nation that cast the spell. For instance, the spell Hurricane kills population and creates unrest; the spell Wolven Winter kills population and increases cold. These appear to the target as random events.