In the face of climate change weather events around the world will shift and become more extreme, endangering economic activity. This project will evaluate climate change related risks at 21 Raytheon Technologies sites in the United States.
Background
Global mean temperature may increase by as much as 4°C by 2100, increasing the risk that extreme climate and water events that threaten business continuity. These climate events range from increasing frequency and severity of flooding events to sea level rise to longer and more severe droughts to increasing severity and frequency of heat waves. These events threaten business operations by endangering employee health, disrupting utilities such as water and electricity, and physically damaging facilities.
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Objectives
1. Develop, test, and refine a geospatial and mathematical model to quantify present-day climate and water risks, as well as projected risk at 5, 10, and 20-year intervals for 21 Raytheon facilities throughout the United States.
2. Implement the model in a user-friendly Excel-based tool which assesses and ranks the identified risks, and is replicable. 3. Report results of the tool through a report that effectively communicates climate risks and opportunities to diverse internal stakeholders at Raytheon, better informing capital investments, sustainability strategy and energy procurement. |
Significance
Companies are currently expanding corporate responsibility practices through a variety of projects including energy efficiency improvements, renewable energy installations, and volunteer connections with surrounding communities. To advance these practices and successfully communicate with investors, corporations need to quantify the risks posed to its facilities and operations by climate and water variability. Through risk quantification, the company will develop a more holistic understanding of the nature of climate and hazards they face, as well as the relative vulnerability of each facility to hazards now and in the future.
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