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 homeowners 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 SAF-D pilot is led by Griffith University's Climate Action Beacon and Meridian Urban, using real-world case studies and financial simulations to test the program's viability.
The solution aims to encourage increased urban development in safer, low-risk locations.
Author's summary: New model manages relocation of homes at risk of natural hazards.