Uni report will identify climate-related financial risks

The University of Otago is seeking to identify the financial risks it faces due to the impacts of climate change on its campuses.

The university is seeking requests for tender for an overview report describing the climate-related financial risk to which the university campuses are exposed.

Head of sustainability Ray O’Brien said developing a better understanding of the impact of climate change on the university was an important aspect of understanding the future and making the right decisions now.

The Government had introduced legislation mandating climate-related disclosures and, while the university was not within the scope of that legislation, it set a new level of best practice in reporting, he said.

‘‘While we have some information around climate risk through planning and consenting processes, this report will draw the information together to provide a clearer picture at a portfolio level,’’ Mr O’Brien said.

The report was an initial overview and the university expected it to identify areas that needed more analysis, he said.

The university expected the report would be completed in the first half of next year, he said.

‘‘Everyone and every organisation should be looking at how potential changes in climate will not only impact what they do, but how they will be positioned to support others more adversely affected by those changes.

‘‘There are local issues to look at such as the potential damage from floods or more frequent and more severe storms.

‘‘There are also considerations around how we fit into the wider systems, such as how secure our energy supply will be.’’



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