Assessment of Environmental and Climate Change Risks to Enterprises and Society

Climate Change is already starting to impact many activities either through the increased frequency and intensity of extreme weather events or by the impending conditions, notably temperature and rainfall which affect adversely normal activities. For every enterprise that wishes to contribute to mitigation of climate change but also to adapt to the new conditions and possibly identify new ensuing opportunities, FACE3TS can provide appropriate assistance including:

  • Assessment of risk from extreme weather events, both on operational as well as on planning basis of enterprises.
  • Assessment of risk for local authorities from extreme weather events and mitigation measures.
  • Analysis of extreme weather events related risks at specific geographical areas, assessment of associated economic impacts, and proposal of measures or/and integrated plans for the mitigation of impacts.

In particular, for businesses in the insurance and banking sector FACE3TS provides:

Insurance sector
– Qualitative assessment of clients with respect to their vulnerability to climate change
– Concise assessment of threats and impacts from climate change at regional level on the basis of the most recent available results of research
– Assessment of potential compensations in the case of climate change impacts
– Assessment of economic opportunities and new sources of revenues for the sector as a result of climate change related policies
Banking sector
– Tools for the assessment of investments applying for funding with respect to their vulnerability to and /or prospects from climate change
– Support in the exploitation of investment opportunities in technologies – sectors – activities that are related to climate change mitigation policies (e.g. Emissions Trading, Clean Development Mechanism – CDM, Joint Implementation – JI, etc.)
– Exploitation of opportunities from weather derivatives

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