Research by SECCCA with the CSIRO has identified infrastructure and communities vulnerable to climate change impacts in the region and associated financial risks to councils. However, there are gaps in understanding how to deal with these risks. In particular, analysis of short, medium and long term adaptation responses is not yet embedded in council financial planning, even though there are significant financial implications to councils and communities for when these responses are made. This project will examine and assist councils plan and budget for future adaptation requirements.
The FRAP project plans to deliver the following outcomes:
1. Develop the FRAP framework and toolkit;
2. Conduct eight workshops to identify, (re)assess and prioritise financial risks to council operations;
3. Taking one (different) high priority risk for each council, develop eight case studies;
4. Complete case studies, involving:
a) identifying potential options for mitigating risk over the short, medium and long terms
(adaptation pathways), including ‘business as usual;
b) initial assessment of options and pathways.
c) financial assessment (level of an initial business case) of short-listed options;
5. Finalise framework and toolkit; and
6. Skill up councils to use each of the tools developed through the case studies.