The Climate Change Commission has sent a letter outlining six principles for the government to help guide investment decisions being made as part of the economic response to the COVID-19 pandemic. They are:
- Consider how stimulus investments can deliver long-term climate benefits
- Bring forward transformational climate change investments that need to happen anyway
- Prepare our workforce for the jobs of tomorrow
- Work in partnership
- Maintain incentives to reduce emissions and adapt to climate change
- Change how we measure the success of economic recovery
Implications for Infill
Infill development is an investment decision that these principles can easily be applied to. It is a type of land development that creates long-lived assets and these assets should be designed to reduce emissions over the long-term. If this enabling infrastructure is not future-proofed, it will ultimately be abandoned.
Innovation and new technology is desperately needed to change many traditional practices that persist in the land development process. This learning must start today because nothing can be achieved without partnership and a transdisciplinary approach.
Incentives are beginning to emerge through both regulation and market forces. Emissions trading is one of these incentives that is likely to continue expanding across sectors, including housing. Increasingly, a greater emphasis is being put on measuring well-being alongside the more traditional financial indicators. The role of developers and land development professionals will be to operationalise these six principles for investors.
Photo by Markus Spiske on Unsplash