Developing a risk assessment methodology that can be applied to a large, diverse portfolio

Real Property Division - Climate Risk and Adaptation Framework

The Real Property Division (RPD) of the British Columbia Ministry of Citizen Services is responsible for the management of about 1500 properties across the province. Due to regulatory changes and requirements regarding the reporting of risks related to a changing climate, the client engaged our team to develop a climate risk assessment methodology for application across a large portfolio of diverse asset types.

We carried out an extensive technical review to summarize the state of the practice and highlight approaches compatible with RPD’s asset management and risk management operations. Our team undertook extensive client engagement to document RPD’s current capacity, knowledge base, and procedures. This resulted in detailed recommendations of an approach aligned with international best practices that reduces RPD’s reliance on external resources. The final part of this work included the development of a climate adaptation framework, structuring RPD’s actions aimed at mitigating risk.

Following the successful completion of the core project scope, RPD requested that Stantec be retained for a pilot project testing the application of the proposed methodology and framework across a sample of their properties.