The GARP Sustainability and Climate Risk Program

Climate change is a particular challenge for the energy sector. New technologies and regulations are creating opportunities and risks, while previously unknown requirements are changing the framework conditions of economic activity. The Sustainability and Climate risk Program (SCR®) offered by the Global Association of Risk Professionals (GARP) addresses precisely the issues that are affecting our risk management now and will do so in the future: Sustainability and the assessing, measuring, managing and reporting of risks in relation to climate change. 

Hagen Meiburg, from Uniper's Enterprise Risk Management department, has taken the chance to successfully complete the program and receive an SCR certificate. "I've been managing risk at Uniper since day one. The SCR program allowed me to expand my personal sphere of influence and my horizons. With the new knowledge and acquired skills, I can effectively drive change, support the integration of sustainability and climate risk management standards, and help Uniper continue to be a driving force in the development of the energy markets," said Hagen.

Politics and business are aiming for decarbonization — and Uniper has also committed itself to becoming CO₂ neutral in its European Generation business by 2035 and Group-wide by 2050. Revising the company's strategy in line with the motto "Empower Energy Evolution" created a new perspective. "There are many risks on the way to a sustainable future, and this project is not a sure-fire success. In order to change something, we must ultimately move away from well-known processes and procedures. 

There is a need for innovative technologies, such as those for utilizing and storing hydrogen, with which Uniper would like to achieve its ambitious goal — technologies that have not yet been tested on an industrial scale and which may pose unexpected risks. These risks can be calculated, but they must be made known and transparent in a new way. In addition, there are markets that still need to be developed, such as for hydrogen. There are no longstanding, proven best practices that can provide guidance," said Hagen, explaining the challenges that have arisen.

"In this area in particular, we need to constantly develop and expand our expertise in order to be able to fill gaps that currently exist due to unknown issues." For this reason, GARP offers graduates from their program a continued course and seminar program following the SCR exam, in order to stay up-to-date on the topics covered. "The situation is developing rapidly and we have to keep up the pace," said Hagen. 

He has already been able to apply his newly learned expertise to numerous projects. The new skills are also instrumental when it comes to identifying and properly managing sustainability and climate risks in his day-to-day work as a member of the Risk Management Team.