"The Climate Council’s report,
‘Compound Costs: How Climate Change is Damaging Australia’s Economy’,
finds there are few forces affecting the Australian economy that can
match the scale, persistence and systemic risk associated with climate
change."
"As the Deputy Governor of the Reserve Bank of Australia noted, the
risks that climate change poses to the Australian economy are “ first
order” and have knock-on implications for macroeconomic policy (Debelle
2019)."
https://www.climatecouncil.org.au/resources/compound-costs-how-climate-change-damages-australias-economy/
"5. The severe costs of climate change outlined in this report are
not inevitable. To avoid the costs of climate change increasing
exponentially, greenhouse gas emissions must decline to net zero
emissions before 2050. Investments in resilience and adaptation will be
essential to reduce or prevent losses in the coming decades.
- Increasing resilience to extreme weather and climate change should
become a key component of urban planning, infrastructure design and
building standards.
- Buildings and infrastructure must be built to withstand future
climate hazards and to facilitate the transition to a net zero emissions
economy.
- A credible national climate policy is needed to safeguard our
economy by reducing the direct costs of climate change, and avoiding
economic risks associated with a sudden, disruptive or disorderly
transition to net zero emissions. " https://www.climatecouncil.org.au/resources/compound-costs-how-climate-change-damages-australias-economy/
"3. The property market is expected to lose $571 billion in value by
2030 due to climate change and extreme weather, and will continue to
lose value in the coming decades if emissions remain high.
- One in every 19 property owners face the prospect of insurance
premiums that will be effectively unaffordable by 2030 (costing 1% or
more of the property value per year).
- Some Australians will be acutely and catastrophically affected.
Low-lying properties near rivers and coastlines are particularly at
risk, with flood risks increasing progressively and coastal inundation
risks emerging as a major threat around 2050.
- Certain events which are likely to become more common because of
climate change are not covered by commercial insurance, including
coastal inundation and erosion.
- More than $226 billion in commercial, industrial, road, rail, and
residential assets will be at risk from sea level rise alone by 2100, if
greenhouse gas emissions continue at high levels. " https://www.climatecouncil.org.au/resources/compound-costs-how-climate-change-damages-australias-economy
"Extreme events like droughts, heatwaves, cyclones and floods have
an impact on agriculture and food production; this is already affecting
Australia’s economy and will cost us much more in the future."
“We will pay for climate breakdown one way or another, so it makes
sense to spend the money now to reduce emissions rather than wait until
later to pay a lot more for the consequences… It’s a cliché, but it’s
true: An ounce of prevention is worth a pound of cure.”
Nobel Prize-winning economist Joseph Stiglitz, a professor at Columbia University
Related:
Prepare for more severe storms
#jailclimatecriminals #gaolclimatecriminals #climatescience #economy
Your Suggestions:
Reduce
consumption on an individual level is a start.
