Climate Catastrophe Looms: Government Report Warns of $611 BILLION Property Value Wipeout and 40% Crop Yield Collapse by 2050
- Australia’s first National Climate Risk Assessment paints a dire picture of the country’s future, with extreme heatwaves, floods, and droughts set to wreak havoc on communities and the economy.
- Climate Change Minister Chris Bowen warns that the worst impacts of climate change are still avoidable, but only if immediate action is taken to reduce emissions.
- The report predicts that coastal flooding could occur as often as 193 days each year by 2090, with sea levels expected to rise by more than half a metre, putting thousands of homes and businesses at risk.
- The economic toll of climate change could be staggering, with natural disasters costing the country more than $40 billion a year and the hit to GDP from days of work lost to heatwaves potentially reaching $423 billion.
**Chris Bowen** has issued a stark warning about the devastating consequences of climate change, saying that the risks are “cascading, compounding and concurrent” and that every Australian community will be impacted. The Climate Change Minister said that the report’s findings were a “clear-eyed” assessment of the challenges ahead, but also highlighted the opportunities for job creation and investment in renewable energy.
The National Climate Risk Assessment predicts that parts of **Sydney** and **Brisbane** could experience floods for 10 months of the year, while **Fremantle** and **Hobart** would be inundated for at least six months. The report also warns that crop yields could fall by 40% due to more frequent and longer droughts, and that hundreds of people could die in heatwaves.
**Mr Bowen** said that the Government was committed to taking action to reduce emissions and mitigate the worst impacts of climate change. He acknowledged that the report’s findings would be confronting for many people, but said that it was essential to be realistic about the threats posed by climate change. “If we take action, we can avoid the worst of the impacts,” he said. “If we take action, we can create jobs and investment right across Australia.”
The report’s release comes as the Government prepares to announce its 2035 target for emissions reduction. Environmental groups are pushing for a target of at least a 70% cut on 2005 emissions levels, while big business has warned that a cut around 60% would come with significant costs.
In a heartbreaking development, the report warns that some risks posed by climate change will never be able to be mitigated, such as sea level rise. Australians will just have to learn to live with the consequences, the report says.
The Government’s climate risk assessment is a wake-up call for all Australians, highlighting the urgent need for action to reduce emissions and prepare for the devastating impacts of climate change. As **Mr Bowen** said, “We aren’t working on reducing emissions for fun… We’re doing it because the impacts of our country are real, and importantly, the worst impacts are still avoidable.”