The aim of the Vilkku project is to strengthen the Uusimaa region’s ability to adapt to climate change through a regional climate risk assessment and adaptation plan. In addition, the project examines the climate change risks from the perspective of the region’s business life. Ilmatar represents the energy sector in the project.
“The energy sector is a critical sector for security of supply, the economy and industry, and it is undergoing a significant change as it transitions to low-carbon and decentralized production. The project allows us to be involved in creating new research data on the impacts of climate change, which we can utilize directly in our company’s decision-making. The project has allowed us to hear the views of different parties, such as the Confederation of Finnish Industries, the Natural Resources Institute Finland and the Rescue Department,” says Cecilia Hertzberg, Ilmatar’s Sustainability Manager.
In the future, the effects of climate change may be visible more quickly
Climate change is already affecting the business operations of many companies and the production capacity of various products and services. For this reason, companies are increasingly considering and reporting on climate risks in their operations.
The Vilkku project takes into account significant systemic and ripple effects related to our industry. For example, through electrification, production is increasingly dependent on the weather, and the transition away from fossil fuels is creating geopolitical tensions with economic and security implications. Supply chains face challenges related to critical components and minerals. At the same time, global biodiversity is deteriorating, and environmental regulations are tightening. All of these have knock-on effects on the continuity of society’s key functions.
The mapping of companies’ climate risks is carried out with the help of an analytical framework, the key areas of which are: vulnerability-exposure-hazard and response, i.e. action or inaction in relation to the risk arising. Based on the framework, llmatar can reflect its value chain, its functions and the risks to which it is exposed. The aim is for Ilmatar to be able to assess significant risks to its business operations in a systematic and long-term manner.
“It has been great to be able to test Ilmatar’s assessment tool focusing on climate risks in a company-specific workshop. Together with university experts and researchers, I have been able to validate and prioritize the risks identified in the energy sector,” says Cecilia Hertzberg.
Renewable energy is produced extensively throughout Finland, but Uusimaa plays a key role in achieving the national targets. The region’s emissions cover about one-fifth of the country’s emissions. There are large energy companies operating in Uusimaa, whose supply chains are widely distributed. The purpose of the project is to identify the key climate risks in the region and to assess the regional adaptation needs and responsibilities related to adaptation.
