The Greater Melbourne region has already experienced significant changes in the local climate as a result of climate change, and it is expected that these changes will continue in the future. Reducing the future impact of climate change requires adaptation. To assist in quantifying climate change costs and impacts and identify options for adaptation investment for Greater Melbourne, EAGA engaged Ernst & Young to:
- scope and develop a clearer evidence base identifying the costs of climate impacts on public and private assets and infrastructure;
- identify relevant adaptation measures, and scope associated costs and benefits; and
- assess whether these types of adaptation measures are applicable to ‘impact investors’ and test the feasibility of a regional investment prospectus.
The project was jointly funded through a partnership with the Department of Environment Land Water and Planning (DELWP) and one of the key initiatives delivered under Greeter Melbourne’s Regional Adaptation Strategy (RAS). EAGA’s Executive Officer is one of four Local Government representatives on the stakeholder committee for the RAS. To find out more or request a copy of the more detailed report, please contact our Executive Officer here.