Australia faces $855 billion risk from rising sea levels

A report by the Climate Council, utilizing research from the University of Melbourne, warns that rising sea levels and coastal flooding could threaten more than 267,000 Australian properties and two million hectares of land. The total economic impact on the nation is estimated to reach $855 billion by 2100.

Queensland faces the highest number of properties at risk with over 93,000, followed by New South Wales with more than 71,000. Western Australia is projected to suffer the greatest economic losses, estimated at $230.5 billion. The report, titled ‘Rising Seas, Rising Bills’, anticipates $274.3 billion in property losses due to inundation and erosion, alongside $580.7 billion in land damage.

Impacted land includes approximately 619,000 hectares of farmland, 379,000 hectares of parks and recreation areas, and 23,000 hectares of critical infrastructure. Scientists predict sea levels will rise by at least 14 centimeters by 2050.