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Financial Risk Adaptation Planning

Published December 15, 2015 | By Janet Armstrong

FRAP launch

Councils launch business cases to respond to climate change financial risk.

The launch of SECCCA’s FRAP program at the DELWP offices recently showcased the variety and relevance of projects to councils. Now the results need to be reviewed and recommendations implemented. Bushfires, floods, heatwaves and severe weather events all place significant pressure on Council resources, from immediate response to the final recovery. An unexpected severe weather event can have significant and long-lasting impacts on a Council’s budget with the only option for recovery being a rate increase or reduction in service delivery. Is this a sustainable approach? Financial Risk Adaptation Planning (FRAP) can help councils plan financially through consideration of more suitable adaptation options.