“For the first time, leading Australian experts in both physical climate change science and disaster modelling are working together with Australian financial institutions to provide a scientifically robust, common standard for industry disclosure and reporting of climate-related financial risks in Australia.”
Those were the words of Climate-KIC Australia’s Christopher Lee, whose camp is coordinating what is described as the “ground-breaking” Climate Measurement Standards Initiative (CMSI) – a collaborative effort aimed at creating a common understanding of the physical risks from climate change in the country and providing projections for future repair and replacement costs of residential and commercial buildings and infrastructure.
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