Table of contents

4.5.2. International sector associations

The International Hydropower Association (IHA) is preparing a climate resilience guide for the hydropower sector with the joint support of the World Bank and the European Bank for Reconstruction and Development (Climate Resilience Secretariat, 2018). This guide aims to assist hydropower companies consider climate change risks in project design and operation, whilst also addressing the needs of the wider financial, policy and local communities. A preparation of a beta version of the guide by a third party followed an initial draft and stakeholder engagement phase. The release of the final version of the guide is expected in 2019.

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The World Energy Council (WEC) published a report on managing the financing of energy sector infrastructure resilient to extreme weather risks as part of their ‘Road to Resilience’ series (World Energy Council, 2015). The report highlighted the need for a strong regulatory framework. A strong regulatory system was described as one which provides clear guidance and definitions of what resilience is in the context of the energy system; what degree of resilience is sufficient; and how this may be financed. The WEC also published reports on managing risks as part of the energy-water-food nexus (World Energy Council, 2015, 2016). The WEC encourages stakeholder cooperation to overcome current climate change information deficits among project developers and investors in order to ensure the correct pricing of investment risk under changing climates. By developing the necessary tools to compare the costs with the benefits of investing in resilience, private sector investment in the energy sector can be secured to ensure that energy assets receive adequate and stable returns throughout their lifetime.

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The World Business Council For Sustainable Development (WBCSD) published a comprehensive report that analyses climate impacts on the power sector (WBCSD, 2014). The report highlights how to improve weather forecasting and the understanding of long-term climate risks, in addition to sharing best practice examples. The report presents multiple potential adaptation responses to various climate change impacts along the energy system value chain. It provides recommendations for adapting to climate change to industry, policy makers and public-private collaborations.

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