Risk overview
Risks to the delivery of our Climate Plan are identified and managed by the Climate Principles Programme Management Office, part of the University’s Transformation Office. There are about 100 individual risks, consolidated into themes to provide an overall picture of the biggest threats and any dependencies between activities in different principles and across the University.
These themes are reviewed and managed by the Climate Principles Programme Board. You can read more about the role of the Programme Board in the ‘Governance and setting up the delivery programme’ section of this report.
Each risk has an owner who is responsible evaluating any change in risk level (known as the “risk trend”) and developing plans to either reduce the chance of the risk occurring or the impact on our delivery should a risk occur.
The most significant current risks are:
Initial cost assumptions prove incorrect and the cost of delivery will increase.
- Current risk level: Severe
- Current controls status: Partially Effective
- Risk trend: Worsening
- Target risk level: Moderate
- Target resolution date: 2025
Given the rate of inflation (particularly for construction material prices), there is a high risk that the cost of our interventions will be higher than we initially planned. We may need to adapt our plans accordingly, placing greater emphasis on the most cost-effective elements. The feasibility studies, which will be completed in spring 2023, will help inform the likelihood of this risk occurring and the best mitigation options.
Plans to electrify heat are no longer viable or will take longer to implement.
- Current risk level: Severe
- Current controls status: Partially Effective
- Risk trend: Improving
- Target risk level: Moderate
- Target resolution date: 2023
Individual risks include the viability of supplying additional electricity to our campus and the ability of our electrical infrastructure to cope with it. These risks are being managed through the Energy Infrastructure sub-programme in our Net Zero by 2030 principle.
A failure to deliver a 50% reduction in business travel emissions could have a material impact on our ability to deliver net zero by 2030.
- Current risk level: Severe
- Current controls status: Partially Effective
- Risk trend: Worsening
- Target risk level: Moderate
- Target resolution date: 2023
The rate of increase in business travel following the easing of COVID-19 travel restrictions poses a challenge to our ability to reduce emissions. This has led us to issue interim travel guidance whilst we wait for recommendations from the Panel on Sustainable Travel Policy.
A lack of resource capacity and detailed skillset could impact our ability to deliver net zero by 2030.
- Current risk level: Major
- Current controls status: Partially Effective
- Risk trend: No change
- Target risk level: Moderate
- Target resolution date: 2023
There are areas of our plans which rely on specialist staff in fields where recruitment demand currently outstrips supply. We are exploring options to mitigate this risk including opportunities to invest in graduate schemes to retain talent from students at the University.
Negative public perception of the early years of the plans to deliver net zero by 2030 .
- Current risk level: Major
- Current controls status: Partially Effective
- Risk trend: No change
- Target risk level: Moderate
- Target resolution date: 2022
Our pathway to net zero does not see a substantial reduction in emissions until 2027-28. This is when we expect sufficient changes to our buildings and electrical infrastructure to allow the decarbonisation of our energy via renewable sources.
Responding to frustration voiced by members of our community about this, we are bringing forward as many activities as possible that deliver immediate emissions reductions, including earlier investment in renewable energy. We will use communication and engagement to raise awareness of work that is not as visible.
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