Introduction
There is a variety of opinions on the steps that policy makers
should take to address the impacts of climate change. Those policy
changes, such as the introduction of a carbon price by the
Australian Parliament in 2012 and its repeal in 2014, are likely to
have a direct impact on construction projects. However the
naturally occurring effects of climate change, such as the
anticipated increase in frequency and/or severity of adverse
weather conditions, will also have an impact on the risk allocation
of construction projects. In every such project the responsibility
for a site, and the identified risks that may occur on that site
during the construction period, are generally transferred from the
principal to its builder. The transfer of any such risk from one
party to another has a cost, whether by way of an adjustment to the
contract price paid by the principal or to the builder's
timeframe to completion. This article discusses the impact that
climate
