Together with Finity, we helped mutual banks prepare for their first mandatory climate disclosures through an industry‑first shared climate scenario analysis.
Facilitating collaborative workshops to immerse participants in the scenario analysis process and uplift capability for future assessments.
Providing guidance on applying scenario analysis for risk management and strengthening strategic, governance and monitoring discussions around climate resilience.
Fostering collaboration, shared insights and comparability across member entities to support effective decision‑making in an uncertain future.
Fluctuations in household income and employment – influenced by climate shifts, insurance costs, and the economic transition – are presenting potential risks to mutual banks. At the same time, new policies and market shifts linked to the transition to a net zero economy mean banks are expected to plan ahead, manage climate risks and provide transparent disclosures.
Australia’s new climate reporting regime (AASB S2) requires entities to disclose their climate‑related financial risks and opportunities, how these might affect financial performance over time, and actions they’re taking in response.
In 2025/26, a group of Australian customer-owned mutual banks identified a need for a consistent, sector-wide approach to climate scenario analysis to help member entities meet these requirements. Climate scenario analysis helps mutual banks explore how different future climate conditions could affect their customers, assets and operations and understand how resilient they are under each possibility. Shared climate scenarios provide a common starting point for preparing their Sustainability Reports under the AASB S2 standards and for building stronger, sector-wide resilience to climate risk.
Climate KIC Australia and Finity were engaged to prepare a set of collaborative, shared climate scenarios for the sector. The objectives were to:
We provided participating banks from the Customer-Owned Banking Association (COBA) with:
As Group 2 and 3 mutual banks begin preparing Sustainability Reports in 2026, the shared scenarios and sector‑level assessment provide a ready‑to‑use foundation for meeting AASB S2 Strategy disclosure requirements.
As part of this project, Climate KIC Australia led:
Chris Lee is the CEO of Climate KIC Australia and played a key role its establishment. Chris has extensive climate change experience and from 2009 to 2017 led the development and implementation of Climate Change Adaptation programs for the NSW Government. He has degrees in Economics and Environmental Management, and has experience across, public, private and university sectors.
As a Project Officer, Viv works on complex multi-stakeholder projects across various areas, with a focus on adaptation and resilience. She has a Master of Environmental Management with Excellence from UNSW, where she was a casual academic and teaching assistant. Having pivoted from a biology and ethology background in Montreal, Canada, she brings a passion for delightfully disrupting the humancentric status quo toward sustainable worldmaking.
As Lead – Strategic Projects, Melinda specialises in climate change adaptation and resilience. She delivers applied, collaborative research and innovation across Australia, Europe and the Pacific. Melinda draws on on her legal and policy background, as well as qualitative research and co‑design to support place‑based and systems‑focused resilience outcomes.
