A new computer modelling tool will make it possible to gauge the effect of climate polices put forward by political parties during the Australian Federal election. Launched by the Climate Institute and Climate Risk Pty Ltd today, the model will provide independent analysis on proposed policies’ effect on national emissions. Results will be updated as polices are released through the election period.
The Climate Institute, an independent research organisation, has selected Climate Risk Pty Ltd to conduct the policy analysis using the Climate Risk Industry Sector Technology Allocation Model. The model was originally developed to identify industrial constraints on delivering a low-carbon economy in Australia and other countries.
“The model has been designed to inform investors and industry on ways to successfully navigate the growth of a low-carbon economy. It will be fascinating to use it to provide an unbiased take on the climate policies put on table during the election,” said Dr Karl Mallon, Climate Risk CEO and co-developer of the model.
“A tool like this is vital because it’s a real challenge for anyone outside government to understand the effect climate change policies have on the various sectors of our economy. The aim is to provide an unbiased, computationally robust analysis,” said Dr Mallon.
The modelling has been undertaken by Dr Karl Mallon, an international author in the field of low-carbon industrial development; and Dr Mark Hughes, an Australian physicist and Cambridge PhD holder.
For more information contact Climate Risk Australia on +61 2 8243 5767
As Kevin Rudd prepares to fly to Copenhagen this week for the last two days
of negotiations, Infrastructure Partnerships Australia, Climate Risk Ltd,
Evans & Peck, Malleson Stephen Jacques and Zurich Insurance released today a
report of the proceedings of their Climate Change and Infrastructure Summit.
The report says that there needs to be a recognition that climate change is
real and already impacting on Australia's infrastructure. The report finds
that without a new approach to specifying standards for construction and
design, there is an increased chance of outages and asset failures - such as
those seen during Australia's extreme weather last summer, leaving
widespread economic impacts. There is also risk of legal actions.
Climate Risk CEO Dr Mallon said: "The science is moving too fast for
standards to keep up, which leaves the infrastructure sector in a very
difficult space. We need some new, more dynamic approaches to folding
climate change into the infrastructure development process."
"The summit also revealed that sticking to standards that do not include
climate change risks may provide no protection from future litigation.
Climate change has to be considered from now on."
"With Melbourne predicted to have another scorching summer, the prospect of
rail lines buckling again causing massive economic disruption shows that we
can't assume the future will be like the past. "
"These fast-emerging climate change risks to infrastructure were the trigger
for this Rapid-Response Summit by the private sector, for the private
sector."
The Summit was convened by Climate Risk ltd in conjunction with the nation's
peak body Infrastructure Partnerships Australia, infrastructure advisory
firm Evans & Peck, law firm Mallesons Stephen Jaques and hosted by Zurich
Insurance Australia - 34 private and public sector infrastructure
organisations participated.
Dr Mallon says that Australia is experiencing conflicting pressures, with a
massive increase in infrastructure investment at the same time that climate
change policy is undergoing rapid change. Government and academic research
is increasingly pointing to major changes in sea levels and extreme weather
events like heatwaves, bushfires and floods, meaning that much greater
consideration of the vulnerability of existing and new infrastructure is
badly needed.
"The standards for infrastructure development are not keeping up with
climate change science." he said. "Because the science is changing so
fast,we have to build in flexibility to our infrastructure, and to the
standards that guide us, so we can move with that science."
Brendan Lyon, Executive Director of IPA states, "Climate change is a reality
and that demands a new approach in the way we plan and procure our next
generation of infrastructure. A key consideration should be designing
infrastructure that has options for adaptation, allowing major projects to
be upgraded at least cost as the climate changes.
"The infrastructure sector is acutely aware of the risks and challenges
posed by climate change and adaptation needs to be part of major projects.
What is also required is greater certainty around the price and structure of
carbon abatement, allowing industry to deliver fit for purpose
infrastructure for the long-term.
For interview contact:
Copenhagen: Sean Kidney +44 7525 068 331
Climate Risk Sydney: Donovan Burton +61 435 041 385
Brendan Lyons via Tracy Ong - 0438 380 464
Monday, October 19, 2009
London, 19th Oct 2009 – Climate Risk (Europe) Ltd today launched results that aim to answer the question: how long will it take clean-tech industries to deliver a low-carbon economy? The results of the major modelling project indicate that only a five-year window remains to get all low-carbon industries onto an accelerated growth path. For a copy of the report click here
Friday, March 20, 2009
A new Climate Risk Report, comissioned by WWF-Australia, shows Australia can successfully transform to a low carbon economy at less than half the cost the Federal Government has spent on the stimulus package in the past six months. The total investment required between 2010 and 2050 to deploy sufficient low-carbon energy generation to power Australia would be about AUD $28.3billion.
Climate Risk is pleased to share its financial sector work it has been developing with the national arm of the major global insurer Zurich Financial Services. The project covers three phases. Phase one is an international review of the response of general insurers to climate change impacts and associated strategies. The second phase of the project develops accurate methodologies to show how insurers can effectively manage escalating risks and where the opportunities for competitive advantage lie. The third phase of the project is the development of specific climate change driven products. Please see our downloads page for more information.
Wednesday, September 10, 2008
Climate Risk welcomes oil vulnerability specialist Pazit Taygfeld. Pazit is an Environmental Planner with experience in oil vulnerability (peak oil) research.
Pazit graduated from Griffith University, with a first class honours on Local and State Government responses towards peak oil. During her work for the Griffith University Urban Research Programme Pazit was the lead author of a report on oil vulnerability for the Queensland Department of Transport and is also the co-author of a number of reports on sustainable tourism. Climate Risk is exploring the confluence between oil vulnerability and climate change with a range of our Clients and Pazit brings a wealth of knowledge to our company.
Wednesday, July 23, 2008
Corporate climate change analysts Climate Risk have spoken out against claims of excessive carbon compensation, stating that it disadvantages the prudent and visionary who have already been moving realign their businesses. Climate Risk believes some companies should counter claim when the carbon market is distorted against them by inappropriate compensation to the competitors.
“The government has to be careful it does not unlock a carbon compensation-fest which sees consumers paying for change and getting none.” said Climate Risk Director of Science and Systems, Dr Karl Mallon who singled out the aviation sector as an example.
“We have been advising our clients to expect a major shift of business air-travel expenditure which will be replaced by alternatives like ‘tele-presence suites’ which provide high-bandwidth life-size video conferencing.” said Dr Mallon. “A system like that will cost a corporation quarter of a million dollars but will save time and travel costs. That investment may be marginal now, but a shoe-in with carbon costs added. So why should telecommunications companies not counter-claim if the carbon market is being distorted in ways that undermine their low carbon alternatives?”
Independent analysts Climate Risk are actively working with many companies and state and local governments to prepare for the physical effects of climate change – such as extreme weather – as well as the effects of a low carbon economy. They are on the Federal Government’s Climate Change Risk Management Panel of Service Providers and aim to mainstream climate change adaptation. Climate Risk were commissioned in 2007 to prepare the report “Toward a Low Carbon High-Bandwidth Future’ and are currently working with Zurich Insurance on climate change preparation and new product development.
Karl Mallon went on to state, “Sectors like aviation and energy generation have known for over a decade the effect that carbon prices would have on their industries. Greenhouse gases emissions from aviation has been a topic of intense debate in the UK, and for Australian carriers to imply that this will effect their business comes as a surprise. Calls for compensation, when they have been aware of the changing market is not a good indicator of prudent business management.”
“We have been advising many of our clients about the effects of carbon constraints on the economy and they in turn are making business decisions and new investments. Too much compensation undermines their decisions to act on these emergent opportunities which is the opposite of what is intended by an emission trading scheme.”
Contact: Dr Karl Mallon in Sydney directly on 0412 25 75 21
Or arrange an interview via the Brisban Office on 07 3368 2902 or 0435 041 385
