Australia

Details

  • Service: Advisory, Risk Consulting, Board Advisory Services, Financial Risk Management, Internal Audit, Risk & Control Services, Climate Change & Sustainability Services, Topics, Climate Change, Infrastructure, Demographic & Social Trends, Managing Risk & Complexity
  • Industry: Financial Services
  • Type: Survey report
  • Date: 16/07/2012

Australia Report 2012: Risks & Opportunities 

The Australia Report 2012 is our third annual survey that analyses the key risks facing Australia by likelihood and economic impact. We look at the impact of diverse risks from climate change to currency volatility to demographic change.
Australia Report 2012 cover
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Developed by the ADC Forum, in collaboration with KPMG, the unique aspect of research is identifying risk interconnectivity. By identifying the most interconnected risks, we gain insight into systems behind the risks, aiding mitigation and identification of opportunities.

 

We identify the risk and opportunities based on input from business, government and academia.

 

Our research finds that a broad thematic shift in the 10 top-rated risks since 2010, from environmental risks to economic risks in 2011. In 2012 risks from both these categories dominated the top 10, reflecting a world in which extreme climate events and international economic uncertainty are becoming givens.


Key insights

  • Climate change and associated risks – notably flooding and storms and cyclones continue to dominate the risk landscape in terms of likelihood and severity.
  • Inadequate R&D investment has risen to become the second most costly and the fifth most likely risk.
  • Geopolitical conflict was rated highly in response to political and economic turmoil in the Middle East and Europe.
  • Major trading partner weakness was rated highly.
  • Demographic challenges of funding and caring for ageing baby boomers remains a concern.
 

Australia Report 2012: Interactive version

Australia Report 2012: Interactive version
View the interactive version of the 2012 report which includes risk interconnectivity and landscape charts.

Risk Consulting

KPMG works with organisations to help them better understand their risk exposures and develop robust control systems and measures.