Visionary Solution for Homes at 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 exposed to high natural hazard risks.
The model, known as the Meridian Urban Settlement Adaptation and Financing Delivery (SAF-D) pilot, aims to allow owners of at-risk homes to transfer climate and financial risk to a new corporate body.
This body is designed to manage natural hazard risks over the long-term, encouraging increased urban development in safer, low-risk 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 to confirm the program's viability.
The solution will manage risks such as flooding, bushfire, and coastal inundation.
Author's summary: New model to manage natural hazard risks in homes.