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What is FRAP?

Help your Council identify and reduce the financial risk caused by the changing climate.
This program is funded by the State Government of Victoria.

Financial Risk Adaptation Planning: Bushfires, floods, heatwaves and severe weather events all place significant pressure on Council resources, from immediate response to the final recovery.

An unexpected severe weather event can have significant and long-lasting impacts on a Council’s budget with the only option for recovery being a rate increase or reduction in service delivery. Is this a sustainable approach?

Further, what about the less noticeable cumulative impacts of the changing climate on Council assets such as roads, drainage, reserves and community buildings, the planning considerations for coastal areas, or the impacts on the outdoor workforce?

The Financial Risk Adaptation Planning (FRAP) Initiative helps Councils integrate climate-related risk into corporate risk assessment processes and prepare financially for the less obvious impacts of climate adaptation.

The FRAP Initiative has developed a risk assessment and financial analysis framework that helps council risk managers and planners understand and build capacity to manage budgetary risks from climate change responses.

Specialist economic consultant Marsden Jacob Associates was appointed to work one-on-one with each of the eight Councils in the South East Councils Climate Change Alliance (SECCCA) to complete the initial pilot project.

Most Councils are on a different stage on the continuum of climate change adaptation planning and risk management, so a tailored approach was taken beginning with a review and update of each council’s current climate change risk assessment.

One risk was chosen by each Council as a case study and Marsden Jacobs undertook a financial analysis to identify the most suitable adaptation option. A detailed report was presented to each of the Councils based on their case study.

project steps & Key milestones

STEP 1

Project introduction and commencement

STEP 2

Update current climate related risk assessment

STEP 3

Council workshop to identify priorities and case study

STEP 4

Council workshop to discuss financial assessment and adaptation options

STEP 5

Marsden Jacob conducts financial analysis and develop case study

STEP 6

Final Council workshop to complete analysis and business case

STEP 7

Resources and outcomes finalised and made available via website

STEP 8

Training workshops for SECCCA member Councils

Resources

At the end of the project, each of the eight case studies will be shared, resources produced and training provided to help Councils undertake similar assessments for their own municipality.

a) a financial risk assessment process
b) an adaptation planning and assessment process
c) a financial analysis process
d) a toolkit comprising an Excel-based adaptation planning and financial analysis workbook with an accompanying guide.

This project aims to move councils along that continuum to a better understanding of their financial risk from climate change adaptation.

About SECCCA

The South East Councils Climate Change Alliance (SECCCA) supports communities, businesses and industries in the south east region to respond and adapt to the impacts of climate change. We are a network of eight councils committed to delivering high-quality, innovative projects and research programs at a regional level.

Member Councils include the Shires of Bass Coast, Baw Baw, Cardinia and Mornington Peninsula, and Cities of Bayside, Casey, Dandenong and Kingston. Find out more at www.seccca.org.au