Viva Energy Climate Risk & Opportunity Assessment and TNFD Scoping
Future-focused Viva Energy strengthens its climate risk assessment, ensuring readiness for upcoming disclosure requirements and nature-related risks.
28th October 2024
Viva Energy Australia is a leading energy company supplying fuels, lubricants, solvents, and bitumen across various industries in Australia. Anthesis has been a trusted advisor to Viva Energy for many years, supporting the organisation with energy assessments and NGERs reporting assistance.
In 2024, in response to new mandatory disclosure requirements, Viva Energy sought Anthesis’s support to refresh its climate risk and opportunity assessment. The focus was on practical application, usability, and ease of implementation across the business. Viva Energy also required assistance in preparing for nature-related risk reporting under the Taskforce for Nature-Related Financial Disclosures (TNFD).
Anthesis began by updating Viva Energy’s assessment framework and climate scenarios using global data. The qualitative assessment covered climate-related risks and opportunities across all business functions. Fact-finding workshops with key stakeholders, along with review sessions, were conducted to test and validate the draft assessment. Additionally, Anthesis completed a TNFD scoping study, including a discovery workshop and a comprehensive scoping report.
The findings were presented in a [draft] ASRS-aligned report, preparing Viva Energy for upcoming reporting requirements and enhancing its resilience. Viva Energy will continue to use the framework, scenarios, and analysis provided by Anthesis to manage its climate risks and opportunities. The TNFD scoping work also helped highlight key nature interaction points, guiding Viva Energy’s focus areas for future TNFD LEAP assessments and disclosures.