Physical Climate Risk Primer

Guidance for non-executive directors to help boards build resilient businesses

The warming of the Earth’s climate has brought the issues of physical climate risk, climate adaptation and resilience building to the forefront of corporate attention. Physical climate risks are now understood as material financial risks that represent a critical business challenge – and opportunity.

This primer was designed in collaboration with Acclimatise and MinterEllison to help our members understand how these risks could affect their companies and stakeholders, in order to appropriately respond and strategise. It aims to enhance knowledge and understanding of physical climate risks and gives a concise overview of the current state of climate science.

By asking pointed questions and understanding what is and is not a satisfactory answer, non-executive directors play an instrumental role in driving informed and proportionate corporate action on physical climate risk.

To help non-executive directors hold informed and strategic discussions with their boards, we have included nine key questions around these physical climate risks.
The questions are organised by theme (e.g. governance and impacts) and relate to a pillar of the TCFD recommendations: Governance, Strategy, Risk Management, or Metrics and Targets.

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