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Long-term company wide climate change strategy
BHP Billiton (BHPB), in developing a whole-of-company long-term climate change strategy, required a set of robust scenarios that would broaden staff perceptions of the issue and, thus, effectively frame a two-day climate change strategy workshop themed “Managing risks and seizing opportunities in a carbon constrained world.”
Futureye worked with BHPB’s global practice leader on climate change to develop background and presentation materials for the workshop. The materials communicated the key trends and uncertainties that ‘interact’ to create four 2030 scenarios. In order to deliver this in the short time-frame, Futureye truncated its scenario development process into a five-step process and assembled an expert project team consisting of leading Australian experts of minerals economics, climate change, climate change law, emissions trading markets, and social license issues.
During this process, Futureye developed and implemented a unique methodological innovation that integrated stakeholder and actor analysis and scenario development in one accelerated process. Major current and emerging stakeholder and actor perspectives were researched to inform the scenario team’s understanding of the current global context and key pathways to different plausible 2030 scenarios.
BHPB had a set of provocative and equally plausible, 2030 scenarios with which to stimulate more strategic thinking about the significant financial and regulatory implications for climate change. The insights from this process will help to create a whole-of-company long-term climate change strategy.