Climate disclosure | Contents
Figure 30 – Our strategic response to climate-related risks Threat 1: Unexpected changes to stakeholder expectations, government policies and regulation in relation to climate change create an unfavourable operating environment, impacting our reputation and financial performance Relevant financial category Relevant climate-related risk category Revenues, expenditures, assets and liabilities, capital financing Transitional (policy and legal, market, reputation)
Potential business impacts
Our FY25 management activities
• Changes to infrastructure approval and concession deed requirements • Increased capital expenditure and operating costs • Increased risk of litigation associated with emissions and our contribution to climate change • Changes in access to capital, such as introduction of more stringent lending requirements • Community concern related to emissions affecting travel and transport choices • Global supply chain impacts from carbon pricing, extreme weather events, pandemics (such as COVID-19), global conflicts and resource constraints
• Continued to pursue scope 1, 2 and 3 GHG emissions reductions towards our 2030 and 2050 targets and to support reduction in transport sector emissions through awareness, advocacy, and industry engagement. • Monitoring and preparing the business for emerging and anticipated mandatory reporting and disclosure requirements including ASRS AASB S2 • Delivered climate change awareness on the energy transition for internal staff • Monitoring global events and undertaking third party supplier risk management to identify and pre-empt (where possible) any impacts that may affect the supply of goods or services.
Threat 2: Increase in incidence of severe weather events and average temperature affects lifecycle planning, disrupts operations, and increases operating costs Relevant financial category Relevant climate-related risk category Revenues, expenditures, assets and liabilities, capital financing Physical (acute and chronic)
Potential business impacts
Our FY25 management activities
• Disruption to power supply, possibly leading to increased operating costs and increased likelihood of blackouts • Heat-related injuries affect employee and contractor safety • Road user safety is affected in extreme weather events (water over road, reduced visibility) • Disruption to asset lifecycle, causing delays and possibly increasing funding allocation
• Ongoing development and implementation of asset-specific CCAPs to identify vulnerable asset subcomponents • Monitored asset performance, implemented preventative and regular maintenance schedules, and asset inspections • Applied road safety approach, including road safety action plans and performance measurement
Threat 3: Access to and use of our roads and tunnels is impacted during extreme weather events and in periods of extended rain and heat Relevant financial category Relevant climate-related risk category Revenues, expenditures, assets and liabilities, capital financing Physical (acute and chronic)
Potential business impacts
Our FY25 management activities
• Changes to toll revenue • Changes to traffic patterns and forecasts • Impacts on customer safety
• Ongoing development and implementation of asset-specific CCAPs to identify potential hotspots on our operational assets • Ex-Tropical Cyclone Alfred emergency management and response, including coordination with Government partners (see page 56)
Threat 4: Macroeconomic and land-use changes (caused by climate policy and severe weather events) alter city travel patterns, development opportunities and toll-road use, impacting traffic models and revenue Relevant financial category Relevant climate-related risk category Revenues, expenditures, assets and liabilities, capital financing Physical (acute and chronic), Transitional (policy and legal, market)
Potential business impacts
Our FY25 management activities
• Economic growth slows and affects future development and growth opportunities • Reduction in long-term revenue as city travel patterns shift due to climate impacts
• Ongoing monitoring of travel patterns and patronage across the markets where we operate through our strategic traffic modelling capability • Tracked national and global climate policies, changes to insurance and city planning, and other policy developments in Australia and North America
57
Made with FlippingBook Digital Publishing Software