The City of Sydney in New South Wales, Australia needed to understand how climate change is likely to affect the city in 2030 in order to develop an effective Climate Adaptation Plan.
KPMG in Australia performed a Dynamic Risk Assessment (DRA) to understand the interdependencies between 32 different climate change risks faced by the city. KPMG analysts used expert elicitation to develop a graphic representation of the relationships between the risks and perceptions of severity. Their analysis also identified trigger risks which were central to causing other risks, and those that are most centrally affected by other risks. Clusters of risks that were likely to occur together were also identified, so that these could be managed together.
As a result of the DRA, the Sydney City Council benefited from greatly improved insight into the risks that climate change posed to the city and was in a better position to develop actions to address these.
Find out more about how KPMG Dynamic Risk Assessment works.
José Luis Blasco, KPMG in Spain.