Successful Community Infrastructure Risk Management in a Decarbonized Future

Abstract

It remains uncertain how a decarbonized economy will function and how organizational roles will need to adapt. Irrespective, the climate is forcing a changing risk context, and organizations and communities are in transition, whether actively engaged or not. Managing the emergent risks is critical to a successful transition and community survival. However, it requires a system of systems view. The asset and function-based investment practice does not reflect value. Community transition is complex and persistent efforts to simplify aspects in isolation and project familiar models based on no-longer-valid assumptions that overcomplicate the calculus no longer suffice. Successful risk management of community transition to a decarbonized future requires a shared understanding of the outcome across all stakeholders to build a sense of ownership and partnership. Each step in that transition must follow a risk-sequenced progression that is measurable and transparent, ideally independently validated. Community transition risk management relies on social capital and delivers enhanced economic benefits. This article advocates an infrastructure systems planning approach instead of an asset-based one.