NAB has revealed for the first time how it secured the Australian Prudential Regulation Authority’s blessing to operate in the cloud at scale.
“So this is far more than an environmental problem,” he said. “It’s a humanitarian, security and possibly military problem too.”
he insurance industry has already declared Australia’s second bushfire ‘catastrophe’ of the season despite summer not yet arriving, renewing calls for more government mitigation work.
Non-financial threats loom larger, relative to economic or banking worries, according to the Thinking Ahead Institute.
Global temperature change ranks No. 1 on a list of 15 extreme risks compiled by the Thinking Ahead Institute (TAI).
The institute, a not-for-profit outgrowth of Willis Towers Watson Investments' Thinking Ahead Group, which dates back to 2002, raised the climate issue two places higher than it was in a 2013 ranking of “potential events that are very unlikely to occur but could have a significant impact on economic growth and asset returns should they happen.”
Currently placing second is global trade collapse, up from fifth in 2013, followed by a new entry, cyber warfare. Tim Hodgson, head of the Thinking Ahead Group, pointed to a general trend of “financial risks falling down the rankings and non-financial extreme risks growing in significance. Global temperature change becomes the highest-ranked risk due to our assessment of higher likelihood coupled with significant impact – in the extreme this would mean mass extinction.” Continue reading on GARP website.
For a long time, climate change was merely an abstract phenomenon for many people, one that future generations would be affected by, if at all. But the perception has changed dramatically in recent months.
France's health ministry says preventative measures helped to curb damage from the heat.
Operation Yellowhammer is the codename used by the UK Treasury for cross-government civil contingency planning for the possibility of a no-deal Brexit. In the event of exit with no-deal, the UK's unilateral departure from the EU could disrupt, for an unknown duration, many aspects of the relationship between the UK and European Union, including financial transfers, movement of people, trade, customs and other regulations.
Operation Yellowhammer is intended to mitigate, within the UK, the effects of this disruption, and would be expected to run for approximately three months. It has been developed by the Civil Contingencies Secretariat (CCS), a department of the Cabinet Office responsible for emergency planning. When the UK ceases to be a member of the EU in October 2019, all rights and reciprocal arrangements with the EU end.
The attached document is the leaked report referred to in the Guardian article.
Following Breakthrough’s widely-reported policy brief on Existential Climate-related Security Risk, this latest discussion paper provides supporting evidence for the contentious 3°C scenario. A 3°C scenario, developed in 2007 by US national security analysts, is reproduced in this paper highlighting a proven prescient in foreseeing some of the major socio-political events that have emerged in the last decade.
There can be many reasons why your staff won't be able to work from their "normal" place of work ... flooding, power outage, internet disruption, fire and so on .... So, where will they go? Can they work from home? What are their technology needs? Here's a helpful article to get you started.
This article addresses the issues that business continuity professionals should consider when sourcing workplace recovery facilities as part of a business continuity plan. It addresses the needs of a medium sized office (several hundred staff) and that there is one office in the city. We are also assuming that the organisation has removed their IT infrastructure from their office and are now housing their computer systems in a datacentre or in the cloud.
At the recent BCI Summit in Sydney, Ben Scheltus gave a presentation on the impact of risks from climate change on business resilience.
A combination of factors makes climate change a particularly notable risk for Australian businesses. On a global basis, the World Economic Forum’s Global Risk Report has identified climate change as a “High Impact” and “High Likelihood” risk. Australian businesses should treat this serious risk in the same manner as any other business risk.
Australia is particularly exposed because it is already subject to extremes in weather; its distance from other global markets increases the fragility of our supply chains; the age of our power generation infrastructure and our heavy dependence on sea transport (for imports and exports). Recently there was a discussion as to whether climate change risks were becoming too great in Australia for the insurance industry to insure.
‘While disclosure is critical, it is but one aspect of prudent corporate governance practices in connection with the mitigation of legal risks. Directors should be able to demonstrate that they have met their legal obligations in considering, managing and disclosing all material risks that may affect their companies. This includes any risks arising from climate change, be they physical or transitional risks.’ Mr Price said.
Passengers were shut out of some of the country’s busiest train stations during the Friday evening rush hour, while hundreds of thousands of homes were left without electricity after what the National Grid described as a problem with two generators.
Financial credit rating institutions want answers from coastal cities about how they’re preparing for climate-change impacts like sea level rise and whether they can pay for their adaptation plans, the mayor of Honolulu said July 17.