Visionary Solution for Homes Exposed to High Risk of Natural Hazards
A visionary financial and land use planning model is being trialled in South East Queensland to manage the relocation of homes exposed to high natural hazard risks such as flooding, bushfire and coastal inundation.
The solution allows owners of at-risk homes to transfer climate and financial risk to a new corporate body designed to manage natural hazard risks over the long-term, aiming to encourage increased urban development in safer, low-risk locations.
The Meridian Urban Settlement Adaptation and Financing Delivery (SAF-D) pilot is led by Griffith University’s Climate Action Beacon in partnership with Meridian Urban, using real-world case studies and financial modelling simulations to confirm the program's viability and efficacy.
No direct quote available in the text.
Author's summary: A new model is being tested to manage homes at risk of natural disasters.