Manuscript for Climate Services Improving Climate Risk Preparedness - Railroads in Norway
Climate change affects most sectors of society due to changes in temperature and precipitation patterns and will continue to do so in the foreseeable future. Extreme weather events are already more frequent and intense, generating additional costs for businesses and investors nationally and globally. Climate risk disclosure and management can be challenging due to the complexity of climate impacts and unpredictability of extreme events’ occurrence and location. The industry-led Task Force on Climate-related Financial Disclosures (TCFD) has addressed and developed consistent and coherent principles and guidelines for companies to disclose their climate-related risks. To address the need for a systematic approach to manage physical climate, this paper presents a ‘preparedness framework’ for a comprehensive physical climate risk assessment, which is inspired by the TCFD. We have chosen railroads in Norway as a case due to their sensitivity to flooding events, heat stress and drought, and the varied conditions for railroads given topographical and meteorological differences. After assessing Bane NOR’s management of risk associated with flooding and heat stress causing buckling of tracks, we discuss improvements regarding knowledge, strategy, management, and tools and metrics, emphasizing the benefits of improving the capacity to handle climate change and the importance of contingency plans. The preparedness framework has helped identify strategies and actions that can reduce vulnerability to climate change impacts and is sufficiently general to be applicable for other sectors and countries
Year of publication: |
[2022]
|
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Authors: | Torvanger, Asbjorn ; Henke, Charlotte Dyvik ; Marginean, Iulia |
Publisher: |
[S.l.] : SSRN |
Subject: | Norwegen | Norway | Klimawandel | Climate change | Risiko | Risk | Schienenverkehr | Railway transport | Klimaschutz | Climate protection |
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