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 model, known as the Meridian Urban Settlement Adaptation and Financing Delivery (SAF-D) pilot, allows homeowners to transfer climate and financial risks to a corporate body that will manage these risks long-term.
The goal is to encourage urban development in safer, low-risk areas. The pilot is led by Griffith University's Climate Action Beacon in partnership with Meridian Urban, using real-world case studies and financial simulations to test the program's viability.
The solution aims to manage the relocation of homes exposed to high natural hazard risks.
Author's summary: New model manages home relocation due to natural hazards.
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