Visionary Solution for Homes Exposed to High Risk of Natural Hazards
A new financial and land use planning model is being trialled in South East Queensland to manage the relocation of homes at high risk of natural hazards.
The model, known as the Meridian Urban Settlement Adaptation and Financing Delivery (SAF-D) pilot, aims to allow homeowners to transfer climate and financial risk to a new corporate body.
This body will manage natural hazard risks over the long-term, encouraging urban development in safer locations.
The pilot is led by Griffith University's Climate Action Beacon in partnership with Meridian Urban, using real-world case studies and financial modelling simulations.
The solution will manage relocation of homes exposed to high natural hazard risks such as flooding, bushfire and coastal inundation.
The goal is to confirm the viability and efficacy of the program.
Author's summary: A new model manages home relocation due to natural hazards.
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