FPL Advisory was engaged by a global pharmaceutical firm to understand the appetite for legislative reform in Victoria that would allow the firm to diversify their poppy growing areas in response to the potential impacts of climate change.
Situation
The chemicals division of a global pharmaceutical firm identified an operational risk to their supply chain driven by climate change and were looking to expand their growing areas. FPL Advisory was engaged to understand that appetite for legislative reform required to permit poppy growing in Victoria. At the time, poppy growing had been restricted to Tasmania for around 40 years.
Action
FPL Advisory undertook analysis of existing legislation and options for legislative change, developed a business case to support the need for change and undertook strategic engagement with key decision makers to present and build support for the proposed pathway forward. Through this process, a reform path was developed in partnership with government and the proposed legislative framework secured cross-party support. FPL then worked closely with departmental personnel to develop an effective security and regulatory regime to ensure the industry was developed at the highest standards whilst ensuring the compliance burden was managed appropriately.
Resolution
As a direct result of FPL leadership in this space, the legislative environment for a new agricultural industry was created in Victoria. The firm was prepared should they need to diversify their growing climates as a means of managing the identified risk.
FPL Advisory supports clients across many industry sectors to resolve risks, create opportunities and support government engagement.