A new national climate risk assessment has warned that 1.5 million Australians living in coastal areas could be directly impacted by rising sea levels by 2050, with the threat expected to double by 2090.
The long-awaited report, released Monday ahead of Australia’s updated emissions reduction targets, highlighted that rising temperatures will create “cascading, compounding, concurrent” impacts on life across the country, home to more than 27 million people.
“We are living climate change now. It’s no longer a forecast, a projection or a prediction — it is a live reality, and it’s too late to avoid any impacts,” said Climate Minister Chris Bowen.
According to the report, losses in Australian property values could reach Aus$611 billion (US$406 billion) by 2050, climbing to Aus$770 billion by 2090. If global temperatures rise by 3°C, heat-related deaths in Sydney alone could soar by over 400 percent.
Despite being one of the world’s largest fossil fuel exporters, Australia has faced criticism for lagging on climate action. However, the current Labor government has intensified efforts to cut emissions and expand renewable energy.
The report coincides with Australia’s upcoming release of new emissions reduction targets under the Paris climate agreement, with hopes for more ambitious commitments.
