Rising sea levels could cost Australians at least $855 billion by 2100
Rising sea levels and storm surges could cost $855 billion in economic losses across Australia by the end of the century, according to new research, the first of its kind in Australia.
A new study from the University of Melbourne and Australian National University predicts that rising sea levels could cost Australia at least $855 billion by the year 2100. This figure represents the first comprehensive economic assessment of its kind in Australia. The study, published in the journal Nature Scientific Reports, uses data from the Intergovernmental Panel on Climate Change (IPCC) to model various emissions scenarios.
Under a moderate emissions scenario known as SSP2-4.5, the research estimates that nearly 270,000 properties and 2 million hectares of land could be affected by coastal flooding by 2100. This includes residential homes, farms, critical infrastructure, and environmental assets. The study identifies Queensland as the state most at risk, with projected losses of $214.5 billion, followed by New South Wales ($151 billion), Western Australia ($7.9 billion), Victoria ($167 billion), South Australia ($49.2 billion), and the Northern Territory ($35.2 billion).
The Gold Coast alone could see economic losses of $84.4 billion, the highest among all urban areas in Australia. The research highlights the disproportionate impact of sea level rise on coastal communities, with millions of hectares of land at risk and substantial costs incurred in housing, essential infrastructure, ecosystem services, and agricultural land.
The findings underscore the urgent need for communities to prepare for these impacts, emphasizing the importance of cutting carbon emissions and implementing adaptation measures.
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