Assumptions, Disclosure and Compliance Level of Uncertainty Level of Uncertainty Low. Low. Risk Risk That asset and hazard planning has not adequately assessed climate change. Appropriate consents are either not renewed or require improvements in level of service before being granted. The trends in Resource Consent requirements are Financial Impact covered more fully in the Infrastructure Strategy. For the period of the Long Term Plan, the financial impact is assessed as low as Financial Impact climate change on the whole is occurring very slowly, providing extended lead times for mitigation measures if required. The main financial impact could occur if levels of service require improvement before a resource consent renewal is granted. The resulting increase in costs will likely require Emissions Trading Scheme (ETS) an increase in borrowing which in turn will impact on rates. Any direct impacts of the ETS through potential price increases are assumed to be covered by Council’s inflation assumptions and thus factored into the forecasts. Specific ETS costs relating to waste and landfill have been incorporated into those estimates, together with the increased revenue that will be received. Pre 1990 forestry has been registered. Any costs associated with ETS will be minimal given Council’s rotation and replanting policy. Level of Uncertainty Low. Risk The impact and scope of the ETS may be more than assumed. Financial Impact The Council will face increased compliance and operating costs, which if significant enough, may require higher fees and charges or increased rating requirements to fund them. However, Council had already taken steps to reduce the landfill liability and fix the price of the Emission Trading Units that will be required to be surrendered for the first three years of the Scheme’s operation. Resource Consents Council has assumed that it will continue to hold and comply with appropriate resource consents to enable it to continue its activities, especially in relation to sewerage and stormwater. 2018-2028 Long Term Plan Page 235