- 10th June 2019
- Posted by: Joanne Woodhouse
- Category: Blog
Last week, Rachel Brisley, Associate Director and Sarah Jones, Catastrophe Risk Analyst, of JBA attended the Royal Meteorological Society’s first Climate Change Forum ‘Risks and Resilience: Emerging challenges in a post Paris world’. The aim of the event was to bring together the UK climate science community, providing a unique chance to discuss current needs, research challenges and policy requirements in an interdisciplinary environment.
Rachel co-chaired a round table with Professor Rowan Sutton, University of Reading, on ‘Risks of Weather and Climate Extremes’. This session focused on the potential impacts of current and future weather and climate extremes and the emerging science needs that are required to support decision and policy makers in building resilience.? Discussions following the initial presentations and during this round table highlighted some concerns about the lack of standards and advice regarding both climate change risk assessment and adaptation in property development and financial regulation sectors. It was suggested that approved developments may not be resilient to current or future climate in terms of flooding, overheating, water scarcity and storm frequency and severity due to the lack and/or enforcement of standards. The imminent publication of ISO 14090 – Adaptation to climate change — Principles, requirements and guidelines was seen as a positive step towards addressing these concerns.
Assessing the financial impact of climate change on flood risk using catastrophe models
Sarah presented JBA’s work on ‘Assessing the financial impact of climate change on flood risk using catastrophe models’ during one of the poster sessions, which introduced JBA’s UK Climate Change Flood Model, and explained some of its potential applications to help users better understand the?possible impacts of climate change on flood, and financial, risk. It was a great opportunity to discuss the model and JBA’s research with experts in the fields of climate and environmental science, and fitted well into one of the key outcomes of the forum: there is a need for more transparency and effective communication between public and private sector on the important topic of climate change research. From a financial perspective, the PRA’s recently released Physical Climate Change Report, offering firms a suggested framework for assessing climate change risk to their business, was the key topic of conversation in the forum’s final round table ‘Science in Business and Finance’.
Overall the event provided a fantastic opportunity to gain an insight into the emerging thinking for the science community and discuss the challenges that can be encountered in both communicating the science to policy and decision makers and ensuring that up to date scientific understanding is translated into policy. We look forward to attending the next event!