KELLER’s Post

Transcript

In this series, we've been looking at what climate change means for Callum, and in this particular Vigier only be looking at what climate change means for our future markets. Now in one of the earlier videos, we spoke about the two main risk and opportunity types from climate change being transitioned, so moving to a low carbon economy and the physical impacts of climate change itself. So how do they translate into our future projects? Well, firstly, there's a real opportunity to work in those transition sectors like low carbon energy. Renewable energy systems like wind turbines still need foundations, and those markets will only grow in the future. Similarly, we will see an increase in linked sectors, the likes of battery plants we're already working on across the UK and the US, for example. Sadly though, more climate change also means that we need to think about climate resilience and adaptation. That means preventing the physical impacts of climate change itself. So for example here we're already doing more work on flood. Offenses for example in New York, but it impacts our overall designs. Think about this for a moment. If we now have changing ground conditions, desertification, there's an opportunity for remediation of this ground strengthening previous projects as those one in 100 year storm events become one in 10 year far more frequent school events. It's also translates though into the way that we operate. So yes, we might be able to work on for example dams and flood defences and those resilient. But also we need to make sure our equipment is resilient to climate change, that our operational try and minimize things like water use when we're more likely to be in droughts. We minimize our exposure to raw materials as we see carbon taxation on them as is spoken about or. We're also like to see less projects around, for example, putting gas and higher carbon sectors. Now, our analysis shows that interestingly, the decrease in high carbon sectors is almost exactly negated by the increase in the renewable energy sectors. But when you add in things like climate resilience as well, it presents a real opportunity to the geotechnical sector. Now. Join me in future videos as we look at the wider impacts of climate change, both risks and opportunities. To color and the wider construction sector.