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Rising Sea Levels Could Cost Australians at Least $855 Billion by 2100
The report says 250,000 homes worth $274 billion could be lost, and many damages may be excluded from insurance.
- On Thursday, the Climate Council released the 'Rising Seas, Rising Bills' report, warning that sea level rise could cost Australia at least $855 billion by 2100 across property and land-use losses based on conservative emissions projections.
- Researchers from the University of Melbourne, the Australian National University, and Global Environmental and Economic Modelling conducted the first nationwide assessment, projecting total damage costs exceeding $850 billion—$274 billion in property losses and $580 billion in land-use damage.
- Western Australia faces the highest economic impact at about $230 billion by 2100, while Queensland expects $214 billion in damage affecting 93,000 properties; Victoria stands to lose 17,364 homes across prestigious Melbourne suburbs including Brighton and Elwood.
- Many coastal losses fall under 'actions of the sea,' excluding them from insurance coverage. The Insurance Council of Australia reported that storm surges from Ex-Tropical Cyclone Alfred generated more than 125,000 claims totalling $1.36 billion last year.
- The Climate Council recommends designating 'no build' zones to preserve shorelines, though Watkins noted adaptation is becoming 'prohibitively expensive' for some councils, requiring collaborative planning across local, state, and federal levels.
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Australia: Rising sea levels threaten over 267,000 properties
BRISBANE — More than 267,000 Australian properties and two million hectares of land could be damaged or lost to rising sea levels and coastal flooding, in a trend that could cost the nation $855 billion. Western Australia faces the greatest economic losses by 2100 at $230.5 billion, while Queensland has the most properties at risk, with more than 93,000 on the line, followed by NSW with more than 71,000. The Climate Council issued the warning …
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Coverage Details
Total News Sources15
Leaning Left6Leaning Right2Center3Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 27%
R 18%
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