BCSDA welcomes Senate committee recommendations to strengthen the National Climate Risk Assessment cycle and accountability

• Committee recommendations set clearer timeframes for updates, response and climate security transparency

Sydney, 4 March 2026 - The Business Council for Sustainable Development Australia (BCSDA) has welcomed the Senate Environment and Communications References Committee report on the National Climate Risk Assessment (NCRA), which recommends practical steps to strengthen cadence and accountability for Australia’s national climate risk information.

BCSDA supports the direction to treat the NCRA as repeatable national risk infrastructure. A clear cycle, paired with clear expectations for government follow-through, can help ensure climate risk information remains current, comparable over time, and usable for decisions across government, business and finance.

The Committee recommended legislating a requirement for the NCRA process, with a report to be tabled in the Australian Parliament within five years of the previous version being released. The Committee also recommended legislating a requirement for a government response to the risks outlined in the NCRA, including the costs of not taking action, with that response tabled in Parliament within three months of the NCRA’s release. In addition, the Committee recommended that a declassified version of the Office of National Intelligence report on the national security threats posed by climate change be tabled in the Australian Parliament within three months.

For business and finance, the value of the NCRA is highest when it becomes decision-useful and reusable. Predictable cadence supports forward planning, investment decisions and resilience actions, while a timely, accountable government response helps build confidence that identified risks will be treated with urgency and translated into implementation. The Committee also underscored that climate change cuts across portfolios and systems, including national security implications, reinforcing the need to consider these risks alongside other climate risks in future iterations of the NCRA.

To make the next NCRA genuinely decision-useful for business and finance, BCSDA supports three practical implementation steps. First, publish NCRA methods, datasets and scenarios where practicable under an open licence, supported by refreshes and reviews. Second, establish a National Climate and Nature Risk Platform as an open geospatial portal with asset and regional layers that can inform planning, disclosure, investment and insurance decisions. Third, align risk categories and metrics to be disclosure-ready, including alignment with ISSB S2 and S1, with nature-related risk integrated over time drawing on Taskforce on Nature-related Disclosures (TFND).

“We welcome the Committee’s recommendations to strengthen the National Climate Risk Assessment as repeatable national risk infrastructure, with clear timeframes and accountability for action,” said BCSDA CEO Andrew Petersen. “The next step is ensuring the NCRA is genuinely decision-useful for business and finance, with reusable risk information that can be applied with confidence across planning, investment, disclosure and insurance decisions. BCSDA stands ready to support implementation with government and partners, including work on accessible data where practicable and practical tools that help translate risk insights into decisions.”

ENDS

About BCSDA

The Business Council for Sustainable Development Australia (BCSDA) is a non-profit organisation dedicated to operationalising sustainable development practices among Australian businesses. BCSDA was established in Australia in 1991 and works with over 70 leading global businesses and other organisations to drive systemic transformation in key sectors, advocating for sustainable leadership and rewarding action through education, partnerships, and policy influence. 

In 2014 the organisation was appointed Australia’s Network Partner for World Business Council for Sustainable Development (WBCSD).

BCSDA’s members believe that by integrating social and environmental impacts with financial results, business lowers its risk profile, makes better decisions and creates the solutions needed to meet the Sustainable Development Goals.

BCSDA’s members include leading Australian businesses, from all sectors, who share a commitment to economic, environmental and social development. It represents member companies, public sector enterprises and institutions, and community organisations, which in turn represent 120,000+ Australian employees. www.bcsda.org.au  

For further information contact: Andrew Petersen, CEO, Business Council for Sustainable Development Australia, +61 412 545 994