Fire & Flood Resilience09 Feb 2022

Supporting communities to build resilience before disasters strike is crucial

Being able to insure assets ensures communities are provided with an added layer of financial and societal resilience to disasters.

Volunteer Emily Copley-Morby carrying out preparedness activities to build resilience ahead of fire and flood seasons. Photo Credit: FINCH – “A Fire Inside”.

Minderoo Foundation welcomes the announcement by the Morrison government on delivering reduced premiums through the reinsurance pool for cyclone and related flood damage in northern Australia.

CEO of the Minderoo Foundation Fire and Flood Resilience initiative, Adrian Turner, said as extreme weather events were on the rise, backing people and communities to be better prepared before disasters occur is crucial.

“As nearly half of Australia’s population lives in regions that have low-to-moderate levels of disaster resilience, supporting people and small businesses to cope with the impact and bounce back stronger is an economic imperative.”

Minderoo Foundation and Deloitte Access Economics’ new report, Economic Reality Check: Adapting Australia for Climate-Resilient Growth, demonstrates that a shift to proactive investment to protect and prepare people and assets for the hazards caused by climate change, combined with mitigation to reduce greenhouse gas emissions can save $380 billion in GDP. In addition, it will provide more than 73,000 additional jobs in sectors such as construction, transport, and manufacturing by 2050.

“We have a significant opportunity to adapt and change the way we think about natural disasters in Australia by lifting resilience ahead of disasters to reduce the overall risk and harm caused.

“Being able to insure assets provides communities with an added layer of financial and societal resilience,” said Mr Turner.

Minderoo Foundation
by Minderoo Foundation

Established by Andrew and Nicola Forrest in 2001, we are a modern philanthropic organisation seeking to break down barriers, innovate and drive positive, lasting change. Minderoo Foundation is proudly Australian, with key initiatives spanning from ocean research and ending slavery, to collaboration in cancer and community projects.

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