Resilience Roundtable with Hon. Grant Robertson
SFF Roadmap recommendation 10: Resiliency
Prepare for uninsurable markets
“Information symmetry is important”
Otherwise game theory applies when you do the right thing for yourself and it isn’t the right collective response.
In May 2023, in partnership with NZ Super Fund, the Centre convened a roundtable discussion with the Minister of Finance with key public, private sector and iwi/Māori leaders on building long-term resilience into recovery.
This was an opportunity to exchange information and ideas on how to upscale capital needed over the short, medium and long term. Consistent themes emerged around the need for urgent action, a long-term perspective, data, coordination and partnership.
Key themes from the discussion:
Policy certainty fosters long-term decision-making and investment. Need to balance short term response with longer term principles and planning.
Collaboration is necessary and welcome. All of the organisations around the table have appetite to collaborate more, and more meaningfully.
A coordinated, transparent national strategy would help to provide certainty around principles and investment priorities.
Data is critical. We don’t currently have a common baseline understanding of risks. We need more accessible, consistent, comparable, granular data (including NIWA data). Providing use-able consumer level information is also a key responsibility.
Practical over perfect. Act with urgency.
This has to be a partnership. Government cannot manage it alone.