Development in a state of climate change: an Australian case study of government response

IF 1.6 Q3 BUSINESS, FINANCE Journal of Property Investment & Finance Pub Date : 2022-02-09 DOI:10.1108/jpif-11-2021-0090
L. Cradduck, G. Warren-Myers
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引用次数: 1

Abstract

Purpose This research seeks to understand the potential impact to investors from government responses to climate change risk, as reflected in changes to planning processes made after significant weather events.Design/methodology/approach The research examines the land planning responses within a select local government authority (“LGA”) area following four significant weather events, in order to identify any changes made, and the impact on future development proposals. The LGA selected is the Central Coast Council, which is a coastal LGA in the Australian State of New South Wales. The research engaged with the publicly accessible records available on the Central Coast Council, Australian Bureau of Meteorology and other websites; and extant literature.Findings The research reveals that some adjustments were made by the Central Coast Council, and or the State government, to relevant laws, policies and processes following these events. These changes, however, tended to focus on imposing additional requirements on future development applications, rather than on requiring changes to current structures, or prohibiting further development works.Research limitations/implications The research has three limitations: (1) land law in Australia varies, as each State and Territory, and LGA, has specific laws, policies and processes; (2) as laws and policies are subject to change, it was necessary to select points in time at which to engage with those laws and processes; and (3) COVID-19's impact on domestic Australian travel [the authors could not travel interstate] meant only documents available on the Internet were considered, however, not all documents relating to development; or changes to laws and processes were easily accessible online. As the research focussed on one case study area, this may limit the applicability of the results to other areas. However, as extreme events are international, the related issues are a concern in all areas.Practical implications This research confirms the results of other extant research, which observed that some risks cannot be properly mitigated, such that any development in an at-risk area remains at risk. It also identifies that more current, accurate and publicly accessible data are required to enable investors to more easily and accurately identify all risks affecting a property.Originality/value The research provides a snapshot of one LGA's response to the physical risks arising from climate change events. As investors and other organisations integrate and build up their analysis of climate risks to their portfolios and organisations, governments become more aware of the long-term effects of climate change and consistently with extant research; this research indicates that a greater awareness is required of current risks and action to manage the short-term effects and cost challenges, in addition to the long-term adaptation requirements.
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气候变化状态下的发展:澳大利亚政府应对措施的案例研究
目的本研究旨在了解政府应对气候变化风险对投资者的潜在影响,这反映在重大天气事件后规划过程的变化中。设计/方法/方法该研究考察了四次重大天气事件后选定的地方政府机构(“LGA”)区域内的土地规划响应,以确定所做的任何变化以及对未来发展提案的影响。选定的LGA是中央海岸委员会,它是澳大利亚新南威尔士州的一个沿海LGA。这项研究涉及中央海岸委员会、澳大利亚气象局和其他网站上的公开记录;以及现存文献。调查结果研究表明,在这些事件发生后,中央海岸委员会和/或州政府对相关法律、政策和程序进行了一些调整。然而,这些变化往往侧重于对未来的开发应用程序施加额外的要求,而不是要求对当前结构进行更改,或禁止进一步的开发工作。研究局限性/影响研究有三个局限性:(1)澳大利亚的土地法各不相同,因为每个州和地区以及LGA都有具体的法律、政策和程序;(2) 由于法律和政策可能会发生变化,因此有必要选择参与这些法律和程序的时间点;(3)新冠肺炎对澳大利亚国内旅行的影响[作者不能跨州旅行]意味着只考虑互联网上提供的文件,但不是所有与发展有关的文件;或者法律和程序的变更可以很容易地在线访问。由于研究集中在一个案例研究领域,这可能会限制结果对其他领域的适用性。然而,由于极端事件是国际性的,相关问题在所有领域都令人关切。实际意义这项研究证实了其他现存研究的结果,这些研究观察到,一些风险无法得到适当缓解,因此风险地区的任何发展都面临风险。它还指出,需要更多最新、准确和公开的数据,使投资者能够更容易、准确地识别影响房地产的所有风险。原创性/价值该研究提供了一个LGA对气候变化事件引起的物理风险的反应快照。随着投资者和其他组织将其对气候风险的分析整合到投资组合和组织中,政府越来越意识到气候变化的长期影响,并与现有研究保持一致;这项研究表明,除了长期适应要求外,还需要对当前的风险和行动有更大的认识,以应对短期影响和成本挑战。
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来源期刊
CiteScore
3.50
自引率
23.10%
发文量
33
期刊介绍: Fully refereed papers on practice and methodology in the UK, continental Western Europe, emerging markets of Eastern Europe, China, Australasia, Africa and the USA, in the following areas: ■Academic papers on the latest research, thinking and developments ■Law reports assessing new legislation ■Market data for a comprehensive review of current research ■Practice papers - a forum for the exchange of ideas and experiences
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