A private sector approach to climate change risk

A press release from DLA Piper via insurancenews.net: DLA Piper in cooperation with Sydney based corporate advisory firm, Future Ready and Queensland based specialist risk management firm, Climate Planning, are developing a guide for company directors facing decision making about Climate Change. Titled Climate in the Boardroom, the project is funded by the National Climate Change Adaptation Research Facility (NCCARF) based at Griffith University.

According to Mark Baker-Jones, Special Counsel at DLA Piper, "Business leaders need to be aware of the constraints and controls imposed by regulatory measures intended to deal with the effects of sea level rise, storm tide inundation and erosion, many of which are complex."

"To date, there has been very little good practical guidance available for decision makers and this is affecting corporate decision making both in Australia and globally. Business leaders are simply finding it too difficult to sift through the rhetoric to access the truly useful information they need to ensure compliance with regulatory requirements," he said.

Future Ready's Director of Adaptability, Gareth Johnston, said "Recent flooding and extreme weather events both nationally and internationally demonstrate that climate impacts will affect the bottom line of most sectors. We are bringing together business leaders and climate change impact specialists to explore barriers and enablers for effective adaptation."...

A 2010 flood in Ames, Iowa, a photo from FEMA