The Economist Corporate Network
Climate Impact & Sustainability Data (2010-12 to 2036, 2019)
Reporting Period: 2010-12 to 2036
Environmental Metrics
ESG Focus Areas
- Climate Change
- Social Inclusion
- Economic Growth
- Environmental Protection
- Sustainable Transport
Environmental Achievements
- Increased to 77% the proportion of Sydney residents who can access a Major Centre, Regional City or Global Sydney within 30 minutes by public transport (reducing carbon emissions implicitly)
- Ensured 85% of greenfield land released was in the Growth Centres, helping contain Sydney’s urban footprint
- Implemented the Metropolitan Transport Plan’s $50.2 billion in projects and enhancements (implicitly reducing emissions through improved transport)
Social Achievements
- Strengthened Sydney’s position as one of the world’s most liveable cities
- Ensured at least 113,000 new homes can be built at major sites in established suburbs
- Planned or commenced major urban renewal across Sydney (improving social infrastructure)
Governance Achievements
- Gazetted more than one quarter of metropolitan councils’ standardised LEPs, delivering the Metropolitan Strategy’s housing and job capacity targets
- Established new mechanisms to achieve urban renewal (Sydney Metropolitan Development Authority and the Urban Renewal State Environmental Planning Policy)
- Strengthened strategic infrastructure planning processes
Climate Goals & Targets
Environmental Challenges
- Growing population exceeding expectations (1.7 million increase by 2036)
- Changing population demographics (aging population)
- Demand for more affordable housing (770,000 additional homes needed)
- Need for 760,000 more jobs, half in Western Sydney
- Inefficient transport and infrastructure delivery
- Need for a more sustainable Sydney and tackling climate change
- Maintaining global competitiveness
Mitigation Strategies
- Integrated, long-term planning framework
- Strengthening the city of cities approach
- Growing and renewing centres
- Transport for a connected city (including $50.2 billion transport plan)
- Housing Sydney’s population (70% in existing areas, 30% in greenfield)
- Growing Sydney’s economy (focus on Western Sydney)
- Balancing land uses on the city fringe
- Tackling climate change and protecting Sydney’s natural environment (climate change adaptation strategy)
- Achieving equity, liveability and social inclusion
- Delivering the plan (integrated decision-making, streamlined processes)
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather patterns
Reporting Period: 2019
Environmental Metrics
ESG Focus Areas
- Sustainability
- Governance
- Transparency
Environmental Achievements
- Increased emphasis on "green" investment and "zero tolerance" of corruption in BRI projects.
Social Achievements
- Focus on building local industrial capacities and creating job opportunities in BRI projects.
- Increased engagement with local communities in BRI projects.
Governance Achievements
- China encouraging local companies to comply with international rules and standards.
- Adoption of formal lending rules similar to multilateral development banks (MDBs).
- Increased openness of BRI projects to international players.
Climate Goals & Targets
Environmental Challenges
- Risky political, economic, and operating environments in BRI countries.
- Corruption and bribery.
- Sudden changes in local laws, regulations, or policies.
- Delays due to political events or inefficient governments.
- Security threats and breaches.
- Tensions between China's approach to managing international projects and the interests of local communities.
- Geopolitical risks (e.g., international pressure on BRI projects).
Mitigation Strategies
- Conducting detailed market feasibility studies and rigorous project risk assessments.
- Building strong partnerships with local companies.
- Developing in-depth legal and regulatory expertise.
- Understanding political dynamics and managing risk throughout the project’s life cycle.
- Systematic risk identification, mitigation, and management approach throughout the project life cycle.
- Considering a project’s lifetime costings and factoring in future operational and maintenance costs.