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In our first and second articles in this series, we looked at the First Pillar and Second Pillar of the EPA’s Climate Change Policy and Action Plan, which contained actions relating to Informing and Planning, and Mitigating. In this third article in the series, we look at the Third Pillar, actions to ‘Adapt’ which deliver on the objectives of the Policy to make NSW more resilient and adapted to a changing climate.
The third pillar recognises the EPA’s acknowledgment that actions to adjust to actual or expected effect of climate change are necessary to enable communities, business and the community to plan for, and recover from impacts of climate change. Broadly, the 6 actions of Pillar 3 relate to actions that are designed to build resilience to impacts of climate change which includes an expectation that the regulated industry will contribute to building resilience in a fair and reasonable way.
Two of the Pillar 3 actions are actions that the EPA and NSW Government are already undertaking in some manner and include:
Four of the Pillar 3 actions are new actions to be implemented over the next three years. Whilst these actions are typically policy based, at least one will have an impact on EPL holders. These actions include:
EPL holders should plan early and provision to properly implement the above actions.
We can assist EPL holders, and other affected parties such as landowners and developers, in understanding the legal risks and opportunities arising from the implementation of the Policy and Action Plan.
Other articles in this series:
Pillar 1: Actions to Inform and Plan
A copy of the Climate Change Policy and Climate Change Action Plan are available here.
Clyde & Co remains committed to mapping and understanding climate change risk alongside a growing network of cross-sector experts and collaborators, to help our clients navigate the rapidly evolving risk landscape they face. If you would like to discuss the issues raised and how this may impact your business, please contact one of our authors. For more thought leadership articles on the climate change related topics, visit our Resilience Hub and our Climate Change Risk webpage.