IPIECA held a side event on climate change adaptation as part of the Business and Industry BINGO day on 15 November 2013 at the 19th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).
The event focused on the energy industry’s increasing need to protect its people, operations and assets from climate damage, in addition to reducing greenhouse gas (GHG) emissions. It described how risk management in the energy sector is beginning to integrate climate risk identification and resiliency approaches to form adaptation strategies.
With guest speakers from Chevron, Shell, Edison Electric Institute and EDF, IPIECA was able to present a range of expert views on the risks that might be faced by the oil and gas industry due to climate change and increasing unpredictable weather patterns. Speakers concluded that adaptation should already be part of effective risk management for forward-thinking companies. Furthermore, it was noted that climate change and unpredictable weather events had cross-cutting effects across of all of society. Therefore, multi-stakeholder dialogue and sharing of effective solutions and tools was integral to risk mitigation to yield the best results for all actors. Finally, speakers noted the continuing need for research and development to mitigate risks and emphasised again the need public private collaboration.
- 21 November 2013