Building the business case for adaptation

Transcription

1 Building the business case for adaptation Dr. Zsuzsa Banhalmi-Zakar, James Cook University* Dr. David Rissik, NCCARF Dr. Robert Hales, Griffith Centre for Sustainable Enterprise Australian Coastal Councils Conference, Redcliff, Qld May 3rd, 2017 *Previous affiliation was Griffith University

2 Agenda Presentation Cases and main findings of Building the business case for climate change adaptation Lessons from coastal Australia (2016) Presentation of the Business Case Template Work/discussion in small groups Adaptation project or initiative Adaptation overall plan By State? By sector? Questions, discussion 2

3 Organisation Melbourne City Council Parramatta City Council Douglas Shire Council Lendlease Suncorp Cairns Aquarium AustralianSuper Stockland Sydney Opera House Bedarra Island Resort Adaptation action/strategy Urban Tree Strategy to reduce the impact of heat waves, permeable surface enables better management of stormwater run-offs Parramatta Ways; Bring back swimming to the Parramatta River; Cool Parramatta all part of a common goal (strategy) Already feeling the effects of climate change prepares by introducing flood (river) monitoring; water and transport infrastructure upgrades; coastal management (beach nourishment) Seeks to ensure longevity of asset Barangaroo South with several measures, greenest global residential, shopping and business centre in the world Launched Protecting the North insurance product to promote action by homeowners to reduce risk of cyclone damage to homes and property New aquarium construction has a clear overall long-term business plan that includes adaptation to changing conditions, minimise impacts and protect natural assets Assessed part of of infrastructure investment portfolio for climate resilience Seeks to ensure business continuity and longevity of assets by retrofitting commercial properties across Australia for adaptation Starting on a path to adaptation through the building renewal scheme, events planning and retail operations Sustainable approach to rebuilding a small-scale luxury resort

4 Main findings Climate change business case development is not just about return on investment Climate change adaptation and mitigation is often closely aligned in business cases Recognition of climate change impact is happening now Financial return is not the primary decision factor Evidence of collaborative approaches - assist with justifying decisions to proceed Identification and use of synergistic effects Bedarra Luxury Island Resort - Qld New Aquarium Cairns

5 Motivated by risk minimisation Primary factor in developing the business case for adaptation (and associated economic costs) identified in the present governance systems of the organisation Usually developed own methodology (including associated economic costs) presently a threat within governance systems Urban Tree Strategy - City of Melbourne Protecting the North Suncorp insurance product (northern Qld)

6 Integration into business frameworks Integration into overall business decisionframeworks often associated with the presence of sustainability systems and practices in an organisation Barangaroo South - Lendlease

7 Shared value propositions Developing shared value for adaptation with stakeholders and the wider community was an important element for both public and private enterprise Adaptation through building resilience framework and retail/events planning Sydney Opera House

8 Staged responses as part of business case Emergency preparedness, infrastructure upgrade, coastal protection - Douglas Shire Council (Qld) Identification and consideration of adaptation pathways, tailor-made approach where future options for action to respond to the climate risks are identified and met through manageable stages triggered by a change in environmental and social conditions

9 External stakeholder engagement Use of collaborative approaches, often with external experts and organisations to formulate tools that can assist with obtaining organisational buy-in for the business case (e.g. visual tools developed to help communicate impacts to make it more relevant and tangible for decision-makers Bring back swimming to Parramatta River initiative (Our Living River) by Parramatta River Catchment Group (range of organisations involved)

10 Monitoring and linkage to existing process Planned monitoring of adaptation outcomes will be vital in successfully adapting to future conditions as adjustments may be need in the future Assessment of infrastructure assets by AustralianSuper

11 Future planning infrastructure Planning for infrastructure for the short- and long-term helps ensure that adaptation can be supported and implemented now and in the future. Different scenarios and projections (mostly current, 2030 and 2070 projections) most widespread Commercial property resilience scoring and retrofit - Lendlease

12 Key lessons learned 1. Leadership within and external to the organisation for progressing the business case through the decision making process 2. The use of visuals and local context was effective in demonstrating the need for adaptation 3. Provide only relevant information irrelevant information outside the organisations scope of operation should not be included 4. Identify key climate and weather risks and opportunities for the organisation and demonstrating business relevance to increase the justification of the business case 5. The use of extreme events as a critical moment to propose the business case 6. Ensure long term commitment for key positions responsible for climate change adaptation 6. The staged implementation of projects aligned to the business case appeared to lead to greater success 7. Linkage of adaptation measures with mitigation appeared to be important 8. Engagement with other organisational commitments (e.g. voluntary environmental or carbon initiatives) and the stakeholders involved with these commitments is important 12