Co-investment – Principles and Practice

Ms Virginia Brook1, Ms Laurinda di Pietro

1DELWP, East Melbourne , Australia

Abstract

“Coastal co-investment – principles and practice”

Author: Laurinda di Pietro, Virginia Brook

This project looks at options for co-investment for the future management and maintenance of Victoria’s coastal protection and other assets.  The project examines coastal co-investment in the context of Victoria’s policy and planning framework; case studies of current arrangements; and co-investment options for the future which reflect the public benefits enjoyed by all users of the coast.

As with other coastal jurisdictions in Australia, Victoria’s coastal zone is highly valued for its cultural, social and recreational attributes. Also recognised are the benefits to the whole community from the ecosystem services, and flow-on economic gains, that a healthy coast provides.

Resourcing arrangements for coastal and marine environments need to be improved to address current and future challenges posed by an ageing asset base; increasing and changing demands resulting from population growth; and the prospective impacts of climate change.

Cost-sharing arrangements for the maintenance, repair, renewal and construction of new and existing infrastructure on the coast need to be better defined and agreement reached on a clear position of who should bear the costs of such works.

Sustainable funding is critical to retain and maintain infrastructure, improve existing recreation and visitation opportunities, and protect and rehabilitate important ecosystems along the coast.

The management of marine and coastal environments increasingly requires the participation of all levels of government, industry and the community. Agreement on co-investment arrangements will be critical to ensure the ongoing management, maintenance and auditing of Victoria’s coastal and marine assets.

Biography

Prior to joining the Land Management and Policy branch of the Victorian Government’s Department of Environment, Land, Water and Planning (DELWP), Virginia’s experience included strategic coastal planning for local government and environmental planning for the State government. In addition, Virginia holds qualifications in Landscape Architecture and community development which provide a strong grounding for her project work.