ClimSystems, a climate risk management firm, has emphasised that the current flood adaptation measures are insufficient and has urged the Government to develop a comprehensive national flood adaptation platform.
ClimSystems presented its concerns to the Finance and Expenditure Committee (FEC), which is tasked with formulating objectives for a new climate adaptation framework. This framework will detail how the Government should allocate resources for climate change preparedness.
According to the firm, New Zealand’s approach to flood management requires enhancement through the establishment of a national-scale platform dedicated to flood data and information.
Peter Urich, Managing Director of ClimSystems, highlighted that while high-quality historical and predictive data on flooding are available from national services like Metservice and research bodies such as NIWA, there is a lack of centralised access. ClimSystems advocates for a platform that consolidates this data, allowing users to assess flood risks on a granular level and access council flood maps for better public awareness.
The firm’s 20 years of experience in flood management support its proposal for this unified platform. Urich believes that aligning flood adaptation strategies with national climate standards and regulations is crucial. He also stressed the importance of collaboration between central and local governments to address flood risks effectively.
This need for a cohesive strategy comes as some councils, like Auckland’s, are already advancing their own flood resilience plans in response to recent events such as the Auckland Anniversary Floods and Cyclone Gabrielle.
However, Urich expressed concern that varying approaches by different councils could result in inconsistent flood management practices. He advocates for a national approach to ensure uniformity and effectiveness in flood adaptation efforts.
ClimSystems, which evolved from the International Global Change Institute at the University of Waikato, has a broad track record of working on climate-related projects worldwide. The company has been involved in high-profile events such as the 2022 FIFA World Cup in Qatar and Expo 2020 in Dubai. Urich believes that a flood adaptation platform could cost between $5 million and $10 million, a figure he argues is justified given the potential damages from severe flooding events.
Recent data indicates a growing concern within the insurance industry about flood risks. According to Treasury’s latest figures, flood insurance premiums have increased, reflecting higher risk assessments. For example, the Estimated Flood Premium (EFP) for a $500,000 property has risen by 12.5 per cent in the last quarter. This trend underscores the financial stakes involved in flood management.
Urich remains optimistic that the private sector will drive progress in flood adaptation, especially if the public sector lags. He envisions a collaborative approach where both private and public entities work together to address the escalating flood risks effectively. The FEC is expected to provide recommendations on the climate adaptation framework and report back by September 5th, potentially shaping the future of New Zealand’s flood management strategies.
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