June

Climate change risks to Australian businesses | Ben Scheltus for the RMIA The Risk Magazine

When doing your Risk Assessments, please be mindful of the physical and transition risks presented by climate change.

For three years in a row, the World Economic Forum’s Global Risk Report (GRR) has called out the risks we collectively face from climate change. In the 2019 report published in February, climate change and environmental risks dominate the “high likelihood” and “high impact” quadrant of the global risk matrix. Read the article here.

Click here to view the RMIA Risk Magazine April edition. Please note the magazine is for RMIA members only.

Australia isn't doing its part for the global climate. Sooner or later we’ll have to pay our share | The Guardian

As things stand, however, Australia will be faced with the necessity of making the same transition over a period of perhaps five to 10 years. That will entail massive investment in solar PV, storage and wind, totalling perhaps $100bn. Given the uncertain environment created by decades of policy reversals, governments will need either to undertake this investment directly or provide long-term guarantees.

Rising seas: 'Florida is about to be wiped off the map' | The Guardian

"Take the 6 million people who live in south Florida today and divide them into two groups: those who live less than six and a half feet above the current high tide line, and everybody else. The numbers slice nearly evenly. Heads or tails: call it in the air. If you live here, all you can do is hope that when you put down roots your choice was somehow prophetic."

Financing a Sustainable Economy | John Price, Commissioner, ASIC

Climate change

Keynote address by John Price, Commissioner, Australian Securities and Investments Commission, Centre for Policy Development: Financing a Sustainable Economy, Sydney, Australia, 18 June 2018

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“However, notwithstanding these issues, as a general proposition we do not consider that the law or our policy would impede an entity from undertaking scenario analysis. Likewise, we do not think that director liability should be a major impediment to reporting under TCFD Recommendations provided that the modelling adopts reasonable assumptions and inputs and discloses them in full. This can be achieved by making sure the disclosure is the product of a robust assessment of the best evidence available at the time”

Download the full speech here

We just got a clear sign the trillion-dollar coastal property bubble could burst any time | Think Progress

Their analysis of home prices versus flood risk reveals that from 2007 to 2017, homes at “high” or “very high” risk of extreme flooding saw a 4.8 to 5.6 percent drop in price, while homes at the lowest risk saw an 8.4 to 9.6 percent rise.