GeoNet

GeoNet is the result of a partnership, established in 2001, between EQC as investment manager and GNS Science as technical manager.

GeoNet’s team of skilled staff uses a network of over 600 sensors spread across New Zealand to detect, analyse and respond to natural hazards as they happen. GeoNet monitors earthquakes, volcanic activity, large landslides, tsunami,  and the slow deformation that precedes large earthquakes.

Independent reviews have repeatedly recognised GeoNet for its innovation and for creating long-term benefits and value to New Zealand and the international community. The GeoNet app, which provides instant data about earthquake and volcanic activity, is widely used and an important public education tool.

GeoNet helps us to better understand risk, which is good for householders

For nearly two decades GeoNet has helped EQC better assess the risks associated with natural hazards in New Zealand. Ultimately, this contributes to EQC successfully reducing the reinsurance cost to New Zealand, which enables EQC to maintain affordable natural disaster levies for householders—currently 20 cents for every $100 of cover.

GeoNet has attracted some of the world’s best brains to New Zealand

One of the principles behind EQC’s funding is that GeoNet’s data must be made freely available, and over the years GeoNet has fostered a solid platform for research. This rich source of data has attracted some of the world’s leading experts to focus on the natural hazards risks in New Zealand—benefiting New Zealand and the international research community.

GeoNet data is used by a diverse group

GeoNet data is used by a diverse community that extends well beyond the original partnership of EQC and GNS.  This includes the Department of Conservation, the NZ Transport Agency, air traffic control and airports, ports, power providers and water suppliers, forest owners, prisons, insurers, reinsurers, developers and engineers.

GeoNet’s value to Canterbury has been significant

GeoNet had an extensive network in Canterbury to monitor the effect on Christchurch of an earthquake on the great Alpine Fault. The beginning of the Canterbury earthquake sequence triggered a rapid network expansion and the February 2011 earthquake has become one of the best-recorded earthquakes in human history. The value of GeoNet’s data was recognised, enabling decisions informed by science relating to building reconstruction, engineering standards, defining red zones and rockfall zones, and reinsurance. 

EQC funding committed to 2021

Around 70 percent of EQC’s research funding goes to GeoNet. In late 2015, we committed to a further five years of funding, increasing from $11.6 million in 2016 to $13.7million in 2021. The increased funding is to upgrade and develop existing systems.

 

Read the funding media release

 

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