The University of NSW has launched the Institute for Climate Risk & Response, a body that will offer advice to industry on how to assess and respond to climate change.
The new institute will also support the activities of UNSW researchers from the faculties of science, business, and law and justice.
“UNSW has a huge amount of expertise and solutions to offer in the fight against climate change,” says Professor Ben Newell, director of the Institute for Climate Risk & Response (ICRR).
“ICRR will work with business and government to leverage this expertise and provide advice on how to respond to climate risks.”
UNSW Provost, Scientia Professor Vlado Perkovic, says ICRR is a bold statement by the university about its commitment to addressing climate risk.
“The research developed by the institute will help create a new generation of climate literate leaders and managers in industry and government,” he says.
“They will be a generation of leaders who can understand and communicate complex climate information into actionable and effective solutions as we seek to mitigate and adapt to climate risks.”
ICRR will have an agenda across three research areas:
Informing industry practice and policy
The institute will help business and government interpret climate science, and provide guidance on what climate science can be trusted and how to integrate it into business models.
“We will help explain climate science data and information to industry in a way that can be used to inform industry practice and policy, and be communicated to employees, customers and the public,” says Professor Newell.
“Assisting industry in this way will provide them with confidence about the quality and effectiveness of their planning and decision making, and communications with stakeholders.”
Predicting human behaviour
How human behaviours change in response to climate risks will have significant implications for how government and businesses plan and manage economic activity and consumer behaviour.
“Behavioural science will be a major focus for ICRR,” say Professor Newell. “Linking models of human behaviour with economic and climate models is crucial for improving our projections about what the future holds.
“Putting behavioural scientists, climate scientists and economists in the room together allows us to tackle this challenge in innovative ways that can drive solutions for business and government.”
Meeting regulatory standards regarding climate change
ICRR will assist industry in navigating and implementing national and international regulations and standards regarding climate risk. It will advise on measuring and evaluating their effectiveness.
The institute will assist industry by providing applied research to guide best practice and policy, as well as establishing educational programs and advice.
The institute is also in discussion with accounting and other professional bodies to develop educational programs for professional training and accreditation.
Other work is focusing on identifying and understanding legal risks attached to climate change, including class action and climate litigation.
“Climate change is not a problem for the future, it’s happening now,” says Professor Newell.
“ICRR is dedicated to helping industry and government act fast as we face the risks and seize the opportunities of our changing world.”