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Climate report warns of rising heat deaths and property losses
Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action
Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action
– Climate change could cause hundreds of deaths and $500 billion decline in property values in Australia.
– Increased extreme weather events may lead to rising insurance costs and potential uninsurability of homes.
The projected increase in heat-related deaths in Australia’s capital cities, as outlined in the report. Picture: Climate Risk Assessment
Rising sea levels and extreme weather are expected to escalate insurance costs, making coverage unaffordable or unavailable.
Climate Change and Energy Minister Chris Bowen acknowledged that many Australians will find these projections distressing, but they underscore the urgency of addressing climate change.
Changes in total annual freight costs by Local Government Area in a 2090 scenario, compared to 2024. Picture: Australia’s National Climate Risk Assessment
Property Risks
Projected increases in heat-related deaths are particularly concerning. For instance, at a 1.5-degree rise in temperatures, heat-related mortality in Sydney could increase by 103%, reaching about 450 deaths annually at a 3-degree rise.
Coastal flooding days are expected to increase significantly in major urban areas, necessitating critical intervention.
