Building an open platform for natural disaster resilience decisions
Deloitte Access Economics
Building Australia's resilience.
Following an unprecedented number of natural disasters in recent years - and their impacts on people, communities, businesses and economies - the Australian Business Roundtable for Disaster Resilience and Safer Communities was formed in December 2012 by the Chief Executive Officers of Australian Red Cross, Insurance Australia Group, Investa Property Group, Munich Re, Optus and Westpac Group.
In July 2014, the group released a second report by Deloitte Access Economics – Building an open platform for natural disaster resilience decisions.
To protect life and property, and help deliver potential savings to the Australian economy of between $500 million and $2.4 billion, the report includes a further three recommendations:
- Efficiency and openness – develop a national open platform that centralises key data so all Australians have access to information that is critical to protecting homes and property
- Transparency and availability – provide greater transparency by removing restrictive barriers on accessing data and research by standardising research and addressing concerns such as unnecessary restrictive licensing
- Effective decision-making – establish a framework for prioritising investment in resilience. Building on a common understanding of the nation’s areas of highest risk would help prioritise the research agenda.
In 2013, the group released a Deloitte Access Economics paper – Building our nation’s resilience to natural disasters – which offered three key recommendations:
- Improve co-ordination of pre-disaster resilience by appointing a National Resilience Advisor and establishing a Business and Community Advisory Group
- Commit to long term annual consolidated funding for pre-disaster resilience
- Identify and prioritise pre-disaster investment activities that deliver a positive net impact on future budget outlays.