IAG supports funding for natural disaster research

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IAG is pleased to see that some of the new funding for science projects, announced by the Government this week, will be directed towards research into enhancing New Zealand’s resilience to natural disasters.

See news release at http://bit.ly/17wHsKw and story at http://bit.ly/12StJf2

We think this is important recognition of the natural disaster risks we face in New Zealand, and IAG supports all efforts to boost understanding of such events that can have dramatic impact on people’s lives.

As important as the funding itself, however, is ensuring it is directed into the areas that will benefit communities the most. In that regard we’d love to get input on what you think research priorities should be.

Please share your thoughts as this is an ongoing area of focus for IAG.

We have a commitment to help communities adapt to the likelihood of more frequent and extreme weather events and other natural disasters. As part of that commitment, in Australia IAG has been leading a coalition of businesses which include the Australian Red Cross, Investa Property Group, Munich Re, Optus and Westpac, to discuss ways in which we can build more resilient communities.

IAG has been engaging with CEOs and other industry experts to look at what we can do, collectively, to reduce risk in the community. These discussions are now forming the basis of a fact-based White Paper which will investigate:

  • Where governments can work with business, not-for-profits and community leaders in resilience-building activities;
  • The financial benefits of investing in risk reduction activities versus recovery spend; and
  • Opportunities to further educate the community about risk, particularly in relation to extreme weather events.

The White Paper is being prepared by Deloitte Access Economics and will be released at Parliament House in Canberra on Thursday, 20 June.

As part of this, IAG has developed a website (www.australianbusinessroundtable.com.au) to help educate the public on some of the key issues, to share news from the Roundtable and to allow people to offer comment and support.

We will be watching closely to identify findings and insights might be useful in the New Zealand context.

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