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Climate risk assessment and mitigation approaches: experiences from NADIA Niger and other initiatives3rd International WICCA Conference Urban Impact of Climate Change in Africa Friday 11th March 2016,
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Climate risk assessment is the process of identifying, analyzing, and evaluating the potential impacts of climate-related risks on an organization or project. This involves assessing vulnerabilities, exposure to climate hazards, and the potential for adverse effects on operations, finances, and stakeholders.
Organizations that are publicly traded, large corporations, and some specific sectors such as finance, energy, and utilities may be required to file a climate risk assessment depending on regulatory requirements and guidelines set by government agencies or industry standards.
To fill out a climate risk assessment, organizations should gather relevant data on climate risks, assess their vulnerabilities, engage stakeholders, evaluate potential impacts, and compile the findings in a structured report format that aligns with regulatory requirements.
The purpose of climate risk assessment is to inform decision-making, enhance resilience to climate impacts, mitigate risks, and ensure compliance with regulatory requirements. It helps organizations understand their exposure to climate-related risks and develop strategies to manage and adapt to these risks.
Information that must be reported includes the identification of climate risks, assessment of vulnerabilities, potential financial impacts, measures taken to mitigate risks, adaptation strategies, and disclosures regarding governance and risk management practices.
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