LGFA is pleased to report its latest Green, Social & Sustainability (GSS) Loan to Hurunui District Council under its “Climate Change Adaptation” category. LGFA provides a discounted loan margin to councils to finance eligible GSS projects.
Under LGFA’s Climate Change Adaptation category, Hurunui District Council will borrow up to NZ$23.5 million to fund proactive relocation for Amberley Beach residents in response to the growing threat of climate change. Amberley Beach is at risk of sea-level rise and coastal erosion and it is anticipated that the current risk responses at Amberley Beach will no longer be effective in 20-30 years. Proactive relocation will allow the Amberley Beach residents to move to safer location in a structured way and will be informed by triggers set out in the Amberley Beach Coastal Adaptation Plan.
The Amberley Beach Proactive Relocation Project is a pioneering initiative to address the risks of sea-level rise and coastal erosion. The GSS loan will provide the necessary funding for Hurunui District Council to begin this project.
