Cost of climate change

The Australian national science agency CSIRO estimates that climate change could result in costs exceeding one trillion USD for the country. The study conducted has criticized the urban development plan it deems poorly elaborated.

Exposure in risk areas is increasing, making buildings, whose insured sums are steadily rising, more vulnerable to natural events.

The year 2014 has been one of the hottest in the history of the country which sustained a multitude of climate hazards such as disastrous floods and torrential rain.
Australia has also experienced in the past devastating bushfires. CSIRO estimates that the cost of these events will amount to approximately 1.4 trillion in 2100.