Visionary Solution for Homes at Risk of 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 model 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 areas.
The Griffith University's Climate Action Beacon and Meridian Urban are leading the Meridian Urban Settlement Adaptation and Financing Delivery (SAF-D) pilot, using real-world case studies and financial modeling to test the program's viability.
The solution aims to encourage increased urban development in safer, low-risk locations.
The pilot will use real-world case studies and financial modeling simulations to confirm the viability and efficacy of the program.
Author's summary: New model manages relocation of homes at risk of natural hazards.