4 Identify funding needs & sources
Completing this roadmap will be an expensive undertaking. CHCAN has been established to help reduce the cost to each CHP, but there will still be significant costs. By preparing a baseline and setting a desired performance benchmark it will be possible to estimate the cost and timeframe to undertake the required program of works and actions to reduce emissions. The benefits can also be calculated, such as scope 3 emission saving, to complete the business case for action that will be needed in gaining budget approval and/or seeking funding to pay for the program of works.
There may be funding programs from different levels of government that would contribute to the capital cost of your climate adaptation program. Due to the environmental and social benefits of the works, some philanthropic and other financial products (climate and social bonds) may also offer discounted finance to help fund the works. CHCAN will be aware of current opportunities.