Climate Change Related Risk Analysis

CarbonTP was engaged in 2021 by a medium sized Australasian oil and gas producer to undertake a climate change related risk assessment of the existing operations.

Together with our specialist ESG partner, Adaptus, CarbonTP planned and facilitated an energy transition risk workshop for the client based on the TCFD framework and involving the following steps:

• Context setting – Providing the most relevant background literature regarding investor sentiment and guidance for oil & gas companies
• Risk framing – Reframing two high level risks into four separate risks covering:
• License to operate,
• broad ESG risks,
• Loss of revenue and Increased costs.
• We also identified the additional risk of physical impacts of climate change.

CarbonTP lead a semi-quantitative risk assessment gaining consensus on likely magnitude and likelihood of risks and identifying key mitigating actions for the client to implement