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Identifying compatible and adoptable sectoral best practices for climate management
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Developing climate-management strategies and hazard-mitigation solutions
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Developing a seasonality model and a cluster of climate KPIs and identifying climate-prone assets
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Developing a list of climate regulations to minimise regulatory risk
CLIENT CHALLENGES
- The client is a leading healthcare provider in the US, with a network of more than 1,000 clinics/hospitals/units in the US and Canada.
- The client needed to identify sector best practices in climate change and to assess their current positioning in relation to peers so they could develop more climate strategies to proactively manage climate hazards.
- The client needed support with understanding climate-related regulations in the US, particularly in Texas, Florida and California, so they could meet all climate-related legal requirements.
- They also wanted to identify the fixed assets most prone to specific climate hazards, the associated mitigation strategies and climate KPIs.
OUR APPROACH
- Peer benchmarking
The project team developed a scoring mechanism to identify the client’s sectoral performance and rank compared to peers’ and identified gaps in climate practices. The team also examined thoroughly peers’ sustainability reports and developed a roadmap for the client to implement best practices for climate management. - Transitional climate risk assessment
The team conducted a thorough analysis of existing and emerging climate regulations in the US impacting the client and their value chain and assessed market, technology and reputational risks. The team also identified key technological developments so the client could better manage climate change. - Physical climate risk assessment
Next, the team collaborated with the client to identify 20 sites for the analysis, based on predetermined criteria, and conducted a scenario analysis (RCP 4.5) using multiple tools (such as World Bank climate analysis, IPCC Atlas, Climate Central, FirstStreet and Aqueduct Atlas) to project climate risk in 2030, 2050, 2080 and 2100. The team also developed a cluster of climate KPIs to facilitate better management of climate hazards and their impact on overall performance. - Risk report
The team assigned a vulnerability score for each site, with client input on adaptive capacities. The report includes risk-mitigation strategies for different climate hazards including heatwaves, droughts, floods and storms. The team also developed a seasonality model to identify core climate hazards specific to the seasons and the regions that might be affected.
IMPACT DELIVERED
- A roadmap capturing sectoral best practices in climate management to help bridge performance gaps
- A comprehensive list of current and emerging climate-related regulations at the national, state and local levels to minimise legal risks
- An overview of market, reputational and technological risks
- A commentary on climate change-induced opportunities
- A number of key climate KPIs to help the client track climate performance (e.g., revenue lost owing to climate hazards) and make proactive decisions to minimise climate-related negative consequences
- A seasonality model to enable the client to visualise and proactively manage their value chain, minimising disruptions to operations and supply chain from eight climate hazards
- An analysis of implications of climate change at different localities on their fixed assets, accompanied by climate risk-mitigation strategies to help the client proactively manage climate hazards
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