Climate risk reporting with providing data on vulnerabilities and climate scenarios is increasingly required in legislation. Reporting is required, but not limited to, in the gradually coming EU Taxonomy Regulation and the ever-increasing reporting system (CSRD, Corporate Sustainability Reporting Directive).
Climate risk – what and why?
Climate change has a significant impact on our operations and living conditions. It forces a variety of companies to adapt their business to changing conditions. The long-term development of cities and municipalities must also consider the possible changes in the environment and weather conditions for decades and centuries from now.
For companies, multi-faceted climate risks and scenarios analysis are required in the reference frame of the Climate-related Financial Disclosure Report, “Task Force on Climate-related Financial Disclosure“, TCFD For cities, an evaluation in the C40 Cities – Climate Leadership Group of large cities are also recommended.
Knowing climate risks and vulnerabilities as well as being prepared and planning for change in a controlled manner are the keys to success in the future. It is necessary to examine the effects of climate change with different climate scenarios, i.e., warming alternatives. Depending on the magnitude and speed of global warming, environmental conditions will change in different ways.
Climate risk assessments
By assessing climate risks and scenarios you will gain knowledge of possible vulnerabilities in your business and as a result, can create an adaptation plan to future-proof your company.
If necessary, the climate risk assessment focuses only on the physical climate phenomena of the near future, or it can include a wide range of factors related to the economy over a longer period and with several climate scenarios.
As a result of the climate risk assessment, a structured picture of the current state and the future is created with a period that is considered essential and gives a basis for the necessary preparation and adaptation planning.
Ecobio as a partner in risk assessment
The risk assessment method is chosen according to your company’s goals. Different methods are suitable for different purposes. In climate risk assessment, Ecobio uses ISO standards for risk assessment as well as guidelines and recommendations published for different purposes.
The implementation method includes the work of Ecobio’s experts and, if desired, the client’s teamwork in an interactive manner.
Ecobio’s expert services for assessing climate risks, vulnerabilities and climate scenarios and adaptation planning are intended for companies that want to prepare for the future in time, develop their business for success and meet the requirements of their customers, investors, and other important stakeholders as well as legislation.
In addition, we help municipalities and cities with future-oriented climate assessments and planning for adaptation to climate change.
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