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Similar to the last several years, SCE’s reliability performance was impacted by wildfire mitigation efforts aimed at reducing the risk of wildfire. | 1 |
We have currently allocated up to 74.6% of the proceeds across renewable energy, clean transportation, energy efficiency and carbon reduction, climate change adaptation, and socioeconomic advancement and empowerment projects. | 1 |
We engaged with community organizations and tribal members to solicit feedback on how potential climate adaptation and mitigation efforts undertaken by SCE might impact vulnerable disadvantaged communities. | 1 |
SCE is now working with CRLG members to determine how we can help them meaningfully build climate adaptation capacity so that past CRLG collaboration is successfully transitioned to helping ensure these groups continue to focus on what climate adaptation awareness, preparation and action means for their communities. | 1 |
Related capacity-building work includes supporting climate adaptation grant writing assistance through Climate Resolve’s Grant-Writing Assistance Program with Edison International, serving as a key sponsor to the California Resilience Challenge. | 1 |
SCE also has formal governance over the development of SCE’s climate adaptation vulnerability assessment and ongoing climate change adaptation activities in accordance with California Public Utilities Commission (CPUC) requirements. | 1 |
In addition to seeking to be granted approval to procure the clean resources needed to meet its decarbonization goals through the IRP and related CPUC proceedings, SCE conducts climate adaptation vulnerability assessments to identify additional system needs as climate change affects customer demand and clean resource production. | 1 |
On the physical risk side, SCE performs climate adaptation vulnerability assessments to identify acute and chronic risks. | 1 |
In May 2022, SCE submitted its first Climate Adaptation Vulnerability Assessment (CAVA) pursuant to CPUC direction, using a conservative (i.e., high-emissions, absent global climate mitigation) RCP8.5 scenario and considering long-term impacts of temperature, precipitation, sea-level rise and wildfire hazards. | 1 |
SCE’s vulnerability assessment and ongoing planning for future grid architectures envisioned in Reimagining the Grid will form the bases for grid investments that harden the decarbonized grid against current and future climate risks. | 1 |
Each department is responsible for providing data, analysis and guidance on their business’ risks to ERM, and ERM works in close coordination with SCE’s cross-departmental climate change team on assessing companywide climate change vulnerability and adaptation options. | 1 |
MetLife also seeks to support climate resilience wherever we can when our customers are impacted by natural disasters. | 1 |
In addition, we offer free resources through Upwise ™ articles to help customers prepare and financially protect themselves from climate disasters. | 1 |
ADAPT identifies startups that help communities and individuals respond to global challenges impacted by climate change, healthcare, wellness and economic mobility and that provide solutions that fundamentally shape and strengthen social resilience. | 1 |
We are taking action to build a more climate-resilient energy network to ensure we can continue to deliver for customers even as California continues to experience the impacts of climate change. | 1 |
Risk scores are calculated using the scoring methodology established by the CPUC in the Safety Model Assessment Proceeding, which reflects the frequency with which various risks are expected to occur and the potential safety, reliability, and financial impacts of varying degrees of wildfire severity. | 1 |
PG&E’s initiative to underground 10,000 miles of powerlines in high fire risk areas represents the largest effort in the United States to underground powerlines to reduce wildfire risk, as well as harden the grid against other types of extreme weather. | 1 |
Our wildfire protection work is making our system safer and more resilient while positioning us to better serve our customers in the short- and long-term and respond to our state’s evolving climate challenges. | 1 |
It also means being prepared to withstand and rapidly recover from major disruptions in service caused by climate-driven weather events. | 1 |
Our commitment to climate resilience is embedded in our cross-functional approach, which engages eadership from key departments across the business in a structured manner. | 1 |
Through PG&E’s Lean Operating System, climate resilience priorities can be raised daily, weekly, and monthly at cross departmental operating review meetings. | 1 |
Through PG&E’s climate resilience program, we are working to ensure that all relevant decision-making is informed by the best available climate science. | 1 |
PG&E is conducting a Climate Vulnerability Assessment, which is an enterprise-wide study that looks at how actual and expected climate change conditions may impact the operations, safety, and reliability of PG&E’s assets, operations, and services. | 1 |
This study will inform actions PG&E can take to adapt our system to evolving climate hazards while also working to reduce impacts to—and increase the adaptive capacity of—disadvantaged and vulnerable communities. | 1 |
Additionally, in 2022, we shared best practices for climate resilience planning and climate vulnerability assessments for utilities through numerous forums, including the Resilience to Extreme Events Summit and the U. S. Energy Association’s Advancing Modern Power through Utility Partnerships Program. | 1 |
PG&E also builds climate resilience by adapting to and preparing for a changing climate and associated weather patterns that could affect our assets, infrastructure, operations, coworkers, and customers. | 1 |
• Climate Resilience and Building Decarbonization: PG&E advocated in support of measures that promote climate resiliency and reduce infrastructure risk. | 1 |
• Infrastructure Modernization: PG&E engages federal policymakers about creating the grid of the future in a reliable manner, while adapting to the increasing risks that climate change, wildfires, and cyber threats pose to our system. | 1 |
• Electric Operations: Includes efforts to harden our infrastructure, modernize the grid, and execute our Community Wildfire Safety Program to continue to mitigate the risk of our equipment igniting fires. | 1 |
• Awarded $400,000 in grants to help communities build a network of local hubs to build community resilience to climate-driven extreme weather events though the Resilience Hubs grant program. | 1 |
Working with our wider value chain and communities to support resilience to climate change. | 1 |
This includes new or expanded projects in Brazil, India, Vietnam, Ghana, Rwanda and Kenya that will contribute to our climate action, restore nature, promote biodiversity and build ecological and community resilience, spanning over 100,000 hectares worldwide. | 1 |
We have taken steps to better understand the direct and indirect impacts of climate change and water stress on our business, so that we can develop plans to ensure our supply chains remain resilient. | 1 |
Using the best available climate data and natural catastrophe-modelling techniques, our climate resilience partners calculated projected Estimated Annual Losses (EALs) and Value at Risk (VaR) for the present day and two future time periods (the 2030s and 2050s) under two climate scenarios. | 1 |
To date, we have invested £3.3 billion in transition finance, including £1.4 billion in renewable energy, £1.2 billion in green bonds and £0.7 billion in other solutions (such as technology, infrastructure and real estate) which supports the transition and helps with our resilience to climate risk. | 1 |
We manage our business to align with the mitigation of climate change beyond the 1.5°C ‘Paris’ objective and to be resilient to the risks of different climate outcomes. | 1 |
A preliminary risk scan identified those assets requiring further review and in 2023, asset specific information, including building age, floor height and, crucially, any existing flood adaptation measures, was captured across higher risk assets. | 1 |
LGIM will publish its approach to climate resilience across the real estate business in line with the BBP Climate Change Commitment. | 1 |
In relation to the home insurance products we offer there is a role for us to improve the resilience of customer homes in relation to climate change-induced extreme weather. | 1 |
We continue to contribute to the GFI’s Coalition for the Energy Efficiency of Buildings (CEEB) aimed at developing the market for financing a net zero carbon and climate resilient built environment in the UK initially by catalysing the widespread retrofitting of residential buildings. | 1 |
We have also identified the need to advocate for change within policymaking, leveraging our relationships with government and industry to influence policy in both flood resilience and broader weather-related resilience and adaptation efforts. | 1 |
We aim to support customers in improving the resilience of their homes against extreme weather caused by climate change. | 1 |
Given the increasing frequency and devastating household impacts of flooding, flood resilience is a priority for us in supporting our customers. | 1 |
We recognise the opportunity and imperative to improve the flood resistance and resilience of those homes that are most at risk of flooding. | 1 |
Our Build Back Better initiative (backed by Flood Re) is a commitment to spend up to £10,000 on specialist flood surveys and fitting property flood resistance and/or resilience measures following eligible flood claims. | 1 |
Increased flood risk would also require us to prepare for more intensive claims handling, regardless of whether risk is ceded to Flood Re. | 1 |
The impact of flood risk can be partially mitigated by home improvements to make properties more resilient to flood, for example by raising electrics, installing hard flooring or flood doors. | 1 |
Improving building standards could also increase the resilience of residential properties to heightened physical risk. | 1 |
As producers are already feeling the impacts of climate change and declining biodiversity, we’ve identified the need to support the transition to net zero and to have a greater emphasis on building resilience within our supply chains and particularly where the most vulnerable producers are by building on existing platforms like Fairtrade. | 1 |
We support our farmers in growing lower carbon, responsible food, using fewer pesticides, enhancing their soils, protecting natural resources and driving innovation, and, in doing so, increasing their resilience to the impacts of climate change and water stress. | 1 |
To adapt to climate change, we are updating our climate vulnerability plans Alongside our focus on mitigating the impact of climate change through reducing our own GHG emissions, we also have to adapt our networks and equipment to operate in changing weather conditions that are occurring due to climate change. | 1 |
It is a phased programme of activity which will deliver a climate change adaptation plan to address assets with the highest resilience risk. | 1 |
On completion, we will develop a Climate Change Adaptation Plan, outlining solutions for our high-risk assets, and confirm the strategic approach to managing that risk. | 1 |
In our US business, we are working with leading organisations to develop our approach to climate adaptation. | 1 |
We are an anchor sponsor of the EPRI Climate READi initiative, which brings together over 30 North American utilities with regulators, system operators, standards agencies and resilience experts to develop a consistent industry methodology for Climate Vulnerability Assessments, hardening plans, standards and rate case justifications. | 1 |
Following the storm, we have committed $1 million to support the people of western New York in their recovery from this historic weather event, through regional charitable organisations offering programmes that directly benefitted those impacted by the storm, as well as organisations supporting community resilience for future emergencies. | 1 |
• Climate: A comprehensive climate vulnerability assessment was launched to understand the impacts of climate change on our assets and to support decisions around climate adaptation investments; see page 19 for more details. | 1 |
More than 40 million health professionals joined the WHO’s call for health to be prioritised during climate negotiations, and the urgent need to prepare healthcare systems to cope with climate-related impacts, including extreme heat, air pollution and infectious diseases. | 1 |
At COP28, we published new research ‘Bringing climate change home through health' to understand how people are adapting their hygiene and health behaviours in response to the effects of climate change. | 1 |
• Our commercial property coverage and risk engineering reviews evaluate climate considerations (e.g., flood, fire) while driving the development of insurance coverage to protect against the unique risk profile of new sustainable construction materials and techniques, such as timber and modular construction. | 1 |
Through our risk management expertise and insights, our culture of underwriting and operational excellence and data-driven mindset, we seek to promote climate resilience. | 1 |
• Allstate allocated $201 million to climate investments in our investment portfolio, focusing on climate mitigation and adaptation. | 1 |
Our Backing Low-Carbon Communities grants support to community-led climate initiatives, disaster response, risk-reduction and resilience efforts, and nature-based solutions, particularly in urban areas. | 1 |
Ahead of the United Nations Climate Change Conference (COP 27) in November 2022, American Express pledged more than $5 million to organizations helping cities and coastal communities build resilience against climate-related events, including to the Ocean Conservancy, Urban Sustainability Directors Network (USDN), Resilient Cities Catalyst, and the Regional Plan Association. | 1 |
$10.4 MILLION in grants provided to help build more climate resilient and equitable communities from September 2021 to December 2022, exceeding our goal to provide at least $10 million by 2025. | 1 |
Business Activities: Assurant could work with its clients to engage end-user customers in the Global Housing business to adopt distributed energy technologies that could reduce costs for customers and increase resilience against climate-related hazards. | 1 |
We also explored climate-related opportunities for Assurant’s operations to enhance resilience. | 1 |
Impact and Strategy for Climate Resilience: With exposure to natural catastrophe through our insured properties, Assurant maintains a high-quality panel of reinsurers, works with state regulators, and incentivizes flood-prone policyholders to use physical risk management tools. | 1 |
Our reinsurance program reduces our financial exposure to climate change and enhances our ability to protect more than three million homeowner and renter policyholders against severe weather and other hazards as of March 31, 2023. | 1 |
For example, we educate consumers and regulators about the benefits of adopting climate-resilient improvements when constructing or repairing homes. | 1 |
Annually, BlackRock’s Cash Management group purchases and retires Certified Emission Reduction (“CER”) units via the World Bank, as trustee for the Adaptation Fund, an international fund that finances projects and programs aimed at helping developing countries adapt to the adverse effects of climate change. | 1 |
BlackRock leases most of its facilities and the Enterprise Resilience, Safety & Security team have developed global emergency action and business continuity plans that account for possible physical climate-risks. | 1 |
We believe our processes for tracking leading indicators and adapting our business enable us to be flexible in response to potential changes in policy, supply, demand and physical risk. | 1 |
In 2023, we created a first global underwriting unit dedicated to insuring risks related to climate change mitigation and adaptation. | 1 |
The analysis of region- and peril-specific changes in hazard levels due to climate change, and their explicit consideration in Munich Re’s nat cat models, can be viewed as a context-specific plan to adjust our core business to the unfolding effects of climate change. | 1 |
Ecosystem-based adaptation initiatives: update on our Mangrove afforestation project in Vietnam In 2020, reinsurance, ERGO and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH launched an initiative on ecosystem-based climate change adaptation in Vietnam. | 1 |
As part of the largest public-private climate initiative in the European Union – EIT Climate-KIC, reinsurance and ERGO have been supporting start-ups with business solutions promoting climate innovation and facilitating a climate-resilient society since 2017. | 1 |
Through the Resilient Agriculture Innovations for Nature (RAIN) Challenge, eight non-profit organisations and their innovative seed-level ideas were supported in Eastern Africa, with the goal of transforming agriculture to become nature-positive and resilient in the face of climate change. | 1 |
For us, climate resilience and response to climate change involve energy efficiency, circularity, product resiliency and new solutions as described above. | 1 |
We innovate and develop new climate-related solutions which help us and our customers to mitigate or adapt to climate change. | 1 |
Information and communication technology and systems are essential to build resilience and to cope with climate change. | 1 |
We responded to over 20 flood-related incidents to protect infrastructure and networks. | 1 |
– Continued to partner with Connected Places Catapult as an asset owner and key stakeholder in the Phase 2 development of the Climate Resilience Demonstrator Tool (CReDo) to identify climate related vulnerabilities and dependencies in the Critical National Infrastructure asset network. | 1 |
–We continued to integrate climate into capital adequacy (ICAAP) and ECL frameworks to ensure NatWest Group is adequately capitalised, by measuring potential losses and testing resilience against expected and unexpected losses. | 1 |
–Conducting operational resilience scenario analysis, in 2020 and 2021, covering flood and extreme heat events. | 1 |
–Applying adequate resilience and recovery plans to prevent service outages, including those caused by climate factors. | 1 |
Testing resilience of liquidity to physical risk triggered crisis. Resilient to outflows driven by physical risk. | 1 |
The program also enables insurance professionals to develop expertise in climate risk and city resilience and to better understand how risk mitigation and risk transfer expertise can effectively address long-term climate change risks in the public sector. | 1 |
The only way forward is to radically transform today’s farming methods and switch to more sustainable agriculture practices that put productivity gains and climate resilience on an equal footing. | 1 |
We're doing so while supporting farmers in their efforts to increase agricultural yields, farm productivity and incomes with effective climate adaptation solutions and new sources of revenue. | 1 |
Similarly, also in India, our Huntington sweet pepper variety enables climate-resilient farming and prolongs shelf-life, making it suitable for long-distance transportation and giving smallholder growers more market access opportunities. | 1 |
This enables farmers to cultivate new varieties that are nutritious, resilient to diseases and better equipped to withstand the challenges of climate change like water scarcity. | 1 |
At the UN Water Conference held in New York in March 2023, we released our new water strategy that aims to have a transformational impact that goes beyond our own operations and reflects our willingness to contribute to climate resilience and more sustainable water usage. | 1 |
The Group undertakes or financially supports a number of local initiatives to tackle climate change and protect biodiversity. | 1 |
Our Property Risk Consultants evaluate policyholders’ property exposures and provide recommendations t o reduce the potentual for property losses fom natural catastrophe events (including hurricans, storm surge, earthquake, and flood events). | 1 |
Natural hazards prioritization analysis, aimed to identify regions and sites – among a client’s portfolio, or supply chain – potentially more affected by natural hazards, as of today and due to climate change in the next 30 years. | 1 |
Another key activity our consultants focus on is categorizing the flood hazard for every location they visit. | 1 |
To offer tailor-made, more sustainable crop solutions, our gene identification work focuses on those plant characteristics that enable higher yield and better quality, disease resistance and tolerance of environmental factors such as drought. | 1 |
For example, our Arize® hybrid rice seed AZ 7006 is specially designed to survive even in extreme flood conditions, producing consistent yields despite unfavorable weather conditions. | 1 |
By identifying the roadblocks to adoption, designing solutions with practical benefits to farmers and creating public and private financial tools like subsidies, tax incentives and carbon markets we can help farmers transition to more sustainable practices, and support themto do their part in reaching climate neutrality. | 1 |