Antinuclear

$200 billion predicted cost of sea level rise around Australia

Sea level rises due to climate change could cost Australia $200b, Climate Council report finds ABC Lateline By Hamish Fitzsimmons 17 Sep 2014 Future sea level rises could put more than $200 billion of Australian infrastructure at risk, a report by the Climate Council has found.

The report, Counting the Costs: Climate Change and Coastal Flooding, showed sea levels were likely to rise by between 40 centimetres and one metre over the next century.

The Climate Council succeeded the Australian Climate Commission, which was axed after the Federal Government took office last year.

The report’s lead author, Professor Will Steffen, warned national income would suffer huge losses if action was not taken to protect against rising sea levels and extreme weather events……..

The Victorian coast, the south-east corner of Queensland and Sydney would be the hardest hit by rising sea levels, the report found.

With more than 75 per cent of Australians living near the coast, Professor Steffen said large swathes of infrastructure were at risk.

“Much of our road, rail, port facilities, airports and so on are on the coast,” he said.

“If you look at a 1.1 metre sea level rise – which is the high-end scenario for 2100 but that’s what we’re tracking towards – you’re looking at more than $200 billion worth of infrastructure that’s at risk.”

Professor Steffen said so-called once-in-a-lifetime natural events could become regular occurrences.

“If you look at some of our most vulnerable areas, and the Sydney region is one of those, you would say toward the end of this century that a one-in-100-year flood is going to be happening every few days,” he said.

“That’s an impossible situation to cope with.”……..

Climate change impacting insurance premiums

The Climate Council warned sea level rises would put pressure on home insurance premiums, as rising sea levels fed coastal erosion.

Australian Local Government Association president Felicity-Ann Lewis said erosion was already causing problems for home owners.

“The insurance industry is very interested in this because some of the insurance premiums are becoming such that people can’t afford to take out insurance on their properties,” Dr Lewis said.

“This is a very big issue.”………http://www.abc.net.au/news/2014-09-17/sea-level-rises-will-cost-australia-billions-report/5748676

September 18, 2014 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, climate change - global warming