Physical Risk & Resilience Working Group The standing physical risk working group has been retired, but we are forming ad-hoc member-driven groups to work on specific projects. As well, each of our workstreams include ‘physical risk’ projects in their agendas. Here are the highlights if what IGCC did on physical risk in 2023: IGCC’s strategy to accelerate the flow of capital into climate adaptation and resilience, “Road to Resilience” was launched at IGCC’s Annual Summit by the Assistant Minister for Climate Change and Energy, Senator Jenny McAllister. The accompanying report provides four key areas of work for investors and our broader ecosystem to manage physical risks associated with climate change, address policy barriers, and facilitate investment in adaptation and resilience. IGCC contributed to shaping Australia’s National Climate Risk Assessment, with a focus on the financial implications of climate’s physical risks, helping ensure the government’s systemic risk mapping process can better guide policy towards a climate-resilient economy. Chair Kate Simmonds Physical Risk Advisor, IGCC Resources and News Members-only.Sign in to unlock all content Investor Briefing Note: APRA Vulnerability Assessment 15 February 2023 Banks Climate Risk Assessments: Not The Full Picture 30 November 2022 The State of Net Zero Investment in Australia 7 March 2023 Physical Risk and Resilience Strategy for Institutional Investors The Investor Group on Climate Change is currently in the process of developing a company-wide strategy for physical risk with three primary objectives: Credibly assessing climate change’s direct and systemic physical risks Providing information on the physical risks of climate change that is clear, accurate, easily accessible and decision-useful. Implementing equitable policy to build resilience and help communities adapt Ensuring governments plan resilience and adaptation measures to the systemic physical risks in an equitable and investable manner. Aligning capital flows to adaptation and resilience goals Enabling investors to have the policy certainty they need to deploy capital towards effective adaptation and resilience measures. Relevant News, Events and Resources Submission: National Adaptation Plan to manage physical risks for economy Submission | Kate Simmonds | 17 April 2024 The first National Adaptation Plan provides is an important opportunity to do this and should consider: Including a co-developed private finance strategy and plan. Aligning adaptation across government climate change activities. Facilitating public-private partnerships and developing frameworks to manage complex adaptation challenges. Developing and co-funding case studies for best practice Download Physical Impacts & ResiliencePhysical Risk & Resilience Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group Submission: National Adaptation Plan to manage physical risks for economy 17 April 2024 For institutional investors, adaptation is both a systemic risk and an opportunity. However, for private investment to be directed towards adaptation, there are significant barriers that must be addressed. AustraliaPhysical Impacts & ResiliencePhysical Risk & Resilience Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group IGCC Members Are Custodians of 14.8 Million Australians’ Investments: 2023 Annual Report 8 February 2024 The Investor Group on Climate Change has released its Annual Report for 2023, showing its work with members to mitigate climate risk and leverage the opportunities of the global transition to net zero. AustraliaClimate Action 100+Corporate EngagementCorporate Engagement Working GroupDecarbonising the EconomyEnergyEnergy Transition Working GroupGovernance & DisclosureInvestor Agenda and ICAPsInvestor PracticeInvestor Practice Working GroupJust TransitionMiningNet Zero Asset Managers Initiative (NZAM)New ZealandParis-Aligned Asset Owners Initiative (PAAO)Physical Impacts & ResiliencePhysical Risk & Resilience Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group IGCC Annual Report 2023: The Year in Review Report | Investor Group on Climate Change | 8 February 2024 The Investor Group on Climate Change has released its Annual Report for 2023, showing its work with members to mitigate climate risk and leverage the opportunities of the global transition to net zero.Download AustraliaClimate Action 100+Corporate EngagementCorporate Engagement Working GroupDecarbonising the EconomyEnergyEnergy Transition Working GroupGovernance & DisclosureInvestor Agenda and ICAPsInvestor PracticeInvestor Practice Working GroupJust TransitionMiningNet Zero Asset Managers Initiative (NZAM)New ZealandParis-Aligned Asset Owners Initiative (PAAO)Physical Impacts & ResiliencePhysical Risk & Resilience Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group Submission: Managing physical risks via the Australian Climate Service 20 December 2023 A shared understanding of physical risk is essential to unlock private capital for adaptation and resilience. AustraliaPhysical Impacts & ResiliencePhysical Risk & Resilience Working GroupPolicy & AdvocacyPolicy & Advocacy Working Group