Economic strategies for coastal disaster risk reduction: A case study of Exmouth, Western Australia

摘要: Recent major natural disasters in Australia have highlighted how some of the economic costs living risk-prone areas are borne by rest society. This study used town Exmouth, north-western Australia, to investigate strategies for coastal disaster risk reduction, as it typifies expanding development prone extreme weather events. Using a GIS, inundation scenarios from cyclonic storm-surge were investigated relative property, infrastructure and shire planning. It showed that developed past decade at high inundation. There has been loss disastermitigating ecosystem functions well increased previously unaffected areas. The extent which perceptions flooding influenced price buyers paid residential property Exmouth over period 1988-2010 was examined using Hedonic Price Model. incorporated dwelling variables, proximity coast, cyclone Vance 1-in-100 year flood levels indicated prices did not reflect real societal cost risk. To internalize these costs, mandatory private insurance scheme high-risk properties (with time-phased government subsidy) penalties local councils undertaking new developments proposed. Further, hybrid instrument aimed correcting market failure land comprises an environmental offset developers, propertyowner tax special mitigation fund, is also highly relevant view planned revision Western Australian Coastal Planning Policy, expansion industry along coast northern predicted effects climate change on sea