This report is part of a series of research papers that explore broad strategies that infrastructure asset owners can take to reduce the transition and physical risks associated with climate change, with each paper covering a specific sub-sector of infrastructure.

This paper presents a literature review and assessment of key strategies to decarbonise non-renewable power generation assets and to increase their resilience to physical climate risks. We use case studies to quantify the decarbonisation potential of transition risk mitigation strategies and damage reduction for physical risk mitigation strategies. We also estimate associated costs in terms of asset value to highlight which strategies might be best applicable.

This information is intended to be used by asset owners to assess at a high level which strategies might enable them to protect their investments into infrastructure assets against climate-related losses in the future. Whilst not intended as a replacement for asset-specific studies it can assist in identifying and planning key capital and operational spending, highlighting risks and improving the evidence base to support better-informed decisions.

Paper published in collaboration with Rob Arnold, Sustainability Research Director, EDHEC-Risk Climate Impact Institute, and Conor Hubert, Sustainability Research Engineer, EDHEC-Risk Climate Impact Institute.