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The accounting requirements suggest using the SASB industry guidance.  There are 77 different industries for which SASB has developed guidance.  You can search for more guidance here, but if you’re unable to find your industry or need more help please feel free to get in touch.

The website that houses all the new sustainability accounting standards is the AASB.  The voluntary sustainability reporting standards can be found here.

Sure.  The process of scenario analysis is broken down into four main steps:

1. Planning
2. Execution
3. Analysis
4. Integration

In the planning phase, you’ll need to define what you want to achieve by setting an objective.  The clearer you are, the easier the other steps become.  Once you’ve decided on the objective, you need to understand which scenarios and parameters will best help you achieve the objective.  For example, if the objective is to understand more about potential flash flood risks to the business under a warming climate, your analysis will more likely benefit from scenarios that have a higher occurrence of intense rainfall in regions that have poor urban drainage or have conditions where the soil is not able to rapidly absorb rain water (e.g., straight after a prolonged drought or after months of continued rain during a La Nina weather pattern).

Having a strategy that captures climate resilience is now part of the Climate Disclosures reporting expectation.  Though the reporting regulations are not prescriptive for how to do a resilience assessment. The important thing is that businesses should already be considering their own resilience to different externalities and climate change just becomes another externality to consider and prioritise.

Spending time and limited money on resilience can be hard.  It’s helpful to use your materiality thresholds (Financial/Operational/Sustainability) to help identify where the bigger areas of vulnerability are.  When doing the assessment, it’s also important to look through the entire value chain and business model (e.g., don’t just focus on business operations, also consider any gaps in supply chain weakness, stakeholder resilience, and even customer resilience to potential price increases for your key products).  You don’t need to focus on everything, just use the relevant views of materiality to put in frame what matters most to the business and use that framework to help guide your prioritisation activities.