Visionary Solution for Homes Exposed to Natural Hazards
A new financial and land use planning model is being tested in South East Queensland to manage the relocation of homes at high risk of natural hazards like flooding, bushfires, and coastal inundation.
The solution allows owners of at-risk homes to transfer climate and financial risk to a new corporate body that manages natural hazard risks long-term, promoting urban development in safer locations.
The Meridian Urban Settlement Adaptation and Financing Delivery (SAF-D) pilot, led by Griffith University's Climate Action Beacon and Meridian Urban, will use real-world case studies and financial modelling simulations to test the program's viability.
The solution aims to encourage increased urban development in safer, low-risk locations.
Author's summary: Innovative model to relocate homes at risk of natural hazards.