This century sea levels are expected to rise 0.4 to 1.0 metres thanks to climate change.
This is a real problem for a country that is surrounded by water.
With rising sea levels comes increased coastal flooding, and more than half the Australian coastline at risk of being effected.
80% of the Victorian coast and 62% of the Queensland coast is vulnerable to coastal flooding.
The Climate Change And Coastal Flooding report reveals if the sea level rose just 0.5 metres, a 1-in-a-100 year flood would occur every few months.
Sydney would be particularly impacted, likely to suffer a 1-in-100 year flood every day by 2100 if the half metre increase occurred.
Th report also suggests if the sea levels rise 1.1 metres, more than $226 billion worth of Australian homes and infrastructure would be exposed to the risk of flooding.
That’s close to 250,000 homes.
The Climate Council has created a state-by-state break down of the financial impact such an event would cause.
If climate change continues at the rate it is currently occurring, coastal flooding could cost the world $US 1 trillion by 2050 – half the size of Australia’s entire economy.
Currently there are no standardised national guidelines for planning for the impacts of climate change in coastal areas across Australia.
This year, in submission to the Senate CSIRO suggested the public and private sector needs to come together to implement a response to climate change in order to avoid a natural disaster.
“Extreme events place a huge financial, social and emotional burden on individuals, communities, industry and the government. Better preparing for extreme events through planning, engineering and awareness has proved to be effective in reducing their cost.
“In south-east Queensland, based on current development patterns, the number of residential buildings affected by a 1 in 100 year storm tide inundation event nearly doubles in 2030 compared with today. Sea level rise accounts for only a small amount of this increased exposure in 2030 but by 2070 it is a much more significant contributor to the projected damages.”
The organisation reports that in the last four years more than 550 people lost their lives in natural disasters.
Now, here’s how much it says insurance claims have cost the economy in the past 40 years.
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