Changes in climate have the potential to create significant disruption and uncertainty in the oil and gas sector. These include: * Cost impacts such as reduced plant efficiency from temperature rise and environmental impacts from the overflow of drainage systems from increased precipitation. * Social impacts related to increased water stress and physical risks from, for example, increased flood levels, sea level rise and changing storms patterns. Climate change can impact the communities and environments in which the industry operates. * Stakeholder expectations around climate change (including shareholders and governments) are also changing and are likely to continue to change. Understanding both physical risks and vulnerabilities of the oil and gas sector will help IOGP Members develop and implement adaptation strategies to manage the physical impacts of climate change.