The NRA draft identifies five categories of risk:
– Geopolitical risks
– Economic risks
– Social risks
– Environmental risks
– Technological risks
The Department’s survey asked responders to identify significant risks that are not included in the NRA draft, along with learnings which could be incorporated into the National Risk Assessment from recently materialised risks such as COVID-19.
Additional risks identified in our submission include:
– Geopolitical unrest stemming from the climate and biodiversity crises, and the decreasing global supply of high-quality oil
– An unbalanced banking sector in Ireland
– Intermittency of supply inherent to renewable energy
– ‘Perception risk’ arising from ungrounded assumptions about the nature of the economy. We argue that this constitutes a highly significant environmental and social risk.
The submission suggests mitigation strategies for these risks and for other risks included in the Department’s draft.
Download the submission (pdf format)
Featured image: Danger Author: dlritter Source: https://www.freeimages.com/photo/danger-1191959
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