Building on floodplains was never a good idea and climate change makes matters worse. But in Queensland, Voluntary Home Buybacks are working for Ipswich, a year on from the devastating floods.
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The retailer has spent nearly $12 billion buying back its own stock since 2005, money that could have been used to invest in its business.
Property buybacks and managed retreat from high-risk areas were once seen as far-off options as the planet warms. Now this ‘last resort’ adaptation to climate change is an urgent priority worldwide.
The Reserve Bank’s Term Funding Facility was meant to support lending during COVID. Instead the funds might be ending up in the accounts of bank shareholders.
