The Victorian South East Council’s Climate Change Alliance (SECCCA) is made up of nine local government councils collaborating to address climate change. SECCCA is one of seven Victorian Greenhouse Alliances. The ICA has collaborated with SECCCA on a series of projects with an overarching objective of “Establishing a path for private finance investment into Physical Risk Mitigation Infrastructure in order to protect Australian assets in a climate changed future”.
The project has secured commitment from the nine SECCCA Council’s to work together and with the ICA through the flow of projects illustrated to protect communities and their assets in a climate changed future.
Local governments are responsible for a range of assets and infrastructure including community buildings, local roads, drainage systems and open spaces. These assets and infrastructure, be they existing or yet to be built, service the community, protect communities from the impacts of weather events and support the community’s recovery from these events. These assets need protecting; in some cases, they can be made more resilient by upgrading materials or building them stronger, and in other cases whole areas require protecting with physical risk mitigation infrastructure like dams and levees.
Objective
Local governments are typically resource stretched, and do not have access to funds to protect assets from the increasing frequency and intensity of natural hazards. This project aims to prove a pathway to finance the infrastructure required to protect existing assets.
The intent is that ICA work with the SECCCA councils to assess the climate change risk of assets and homes in the region, conduct cost benefit analysis and evidence the business case for physical risk mitigation infrastructure investment. We will then work with councils and the finance sector to develop mechanisms to fund projects that will mitigate future risks.
Relationship/Partnership
SECCCA Councils and the Finance Sector
Measures of Success
A proven pathway to fund physical risk mitigation infrastructure in the SECCCA region that can be replicated and scaled across Australia.
