Physical Climate Risk Assessment: A Practical Framework for Mining Companies | AASB S2

This video explains a practical physical climate risk assessment framework for mining companies and how it supports AASB S2 climate-related financial disclosure. A useful climate risk assessment goes beyond identifying climate hazards. It should show how changing climate conditions affect an actual mine system, whether existing controls remain adequate under plausible future conditions, and what the operational and financial consequences could be. In this video, I cover: • what a physical climate risk assessment actually needs to do • why a climate hazard is not yet a business risk • a practical climate risk assessment framework • climate vulnerability, exposure and control effectiveness • why the assessment should start with the mine, not the climate model • testing future control effectiveness and control headroom • an underground mining example: extreme rainfall → dewatering → production interruption • connecting physical climate risk to operational and financial effects • how the assessment supports risk management, adaptation, resilience and AASB S2 disclosure The core framework Climate change → hazard → mine system → vulnerability → controls → operational consequence → financial effect → adaptation / resilience → disclosure The objective is not more climate modelling for its own sake. It is to develop a defensible view of physical climate risk that supports operational, capital, risk and financial decision-making. About Sustained Systems Sustained Systems provides practical guidance on physical climate risk assessment, climate scenario analysis, climate resilience and AASB S2 for mining companies. The content is intended for sustainability and reporting teams, risk managers, finance teams, technical services, mine planning, water, infrastructure and other mining professionals responsible for understanding and managing physical climate risk. #PhysicalClimateRisk #AASBS2 #Mining