Disaster Ready Fund to deliver long-term resilience
The Australian Government is establishing a new Disaster Ready Fund, to support communities across the country to prepare for natural disasters. The Bill, introduced to Parliament on 7 September, will transform the former Emergency Response Fund into a dedicated ongoing source of funding for natural disaster resilience and risk reduction initiatives.
The Fund will provide up to $200 million per year across Australia to invest in mitigation infrastructure projects such like flood levees and fire breaks, as well as systemic disaster risk reduction projects such as hazard mapping, land use planning and governance projects and projects that incentivise private investment.
By preparing for natural disasters we can protect lives and livelihoods, and lower damage bills from floods, fires and cyclones.
In order to deliver security for natural disaster-impacted communities, the Australian Government will honour the 2022-23 Emergency Response Fund commitments announced by the former Government, including $150 million for the New South Wales Northern Rivers region and the $50 million Coastal and Estuarine Risk Mitigation Program.
Funding for natural disaster recovery efforts will also continue through other sources, including through Commonwealth and State Government Disaster Recovery Funding Arrangements.
The Disaster Ready Fund builds upon other measures designed to strengthen Australia’s disaster management response, including the creation of the new National Emergency Management Agency, and the establishment of a Special Envoy for Disaster Recovery.