EQC confirms $12 million 2018/19 funding for GeoNet
We are happy to announce continued funding of $12 million for GeoNet in 2018/19.
“EQC supported the establishment of GeoNet in 2001 and remains an anchor partner,” says EQC’s Dr Hugh Cowan. “GeoNet has become a critical national facility and underpins New Zealand’s ability to detect and interpret geological hazard risk and reduce the impact on people and property.
“GeoNet provides fast access to information and high-quality research data in a way that was unimaginable beforehand,” he says. “This is of great benefit to EQC for our statutory role in reducing natural disaster damage, and underpins a lot of the science that gives our international reinsurers the confidence to continue to reinsure EQC.”
GeoNet is run by GNS Science and has a network of more than 600 sensors around New Zealand producing data that is made freely available online and is analysed by scientists around the world.
“One of the great additions in recent years is the move to simplified online “felt” reporting, that allows large numbers of people to quickly share online information about their experience of earthquake shaking,” says Dr Cowan.
“Having the GeoNet data available has also attracted international science investment in related research, significantly increasing the resources available to understand New Zealand hazard and risk and enhancing its value to all New Zealanders.
“With such good quality data freely available, we receive significantly more top quality scientific attention than we would otherwise get. For example, GeoNet provides base data for the large international research effort on the Alpine Fault, and for international research to understand why the Kaikōura quake was the most complex quake recorded.”
GeoNet is funded by EQC, LINZ and GNS Science with contributions from MetService and the Department of Conservation. Starting this year, MBIE is also adding funding to provide a higher level of monitoring and analysis to support faster and more accurate response to potential geohazard events such as earthquakes, tsunami, landslide and volcanic activity. As a key partner with Geonet and GNS Science, MCDEM is supportive of this initiative.