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https://theconversation.com/coastal-property-prices-and-climate-risks-are-both-soaring-we-must-pull-our-heads-out-of-the-sand-195357>
"Australians’ well-documented affinity with the sun, surf and sand continues to
fuel coastal property market growth. This growth defies rising interest rates
and growing evidence of the impacts of climate change on people living in
vulnerable coastal locations.
People in these areas are finding it harder to insure their properties against
these risks. Insurers view the Australian market as sensitive to climate risks,
as climate change impacts can trigger large insurance payouts. They are pricing
their products accordingly.
Clearly, there is a vast disconnect between the coastal property market and
climate change impacts such as increasingly severe storms, tidal surges,
coastal erosion and flooding. There is no shortage of reports, studies and
analyses confirming the climate risks we are already living with. Yet another
alarming
State of the Climate report was released last week.
We keep talking about reaching global net-zero emissions. But this “blah blah
blah” masks the fact that climate impacts are already with us. Even if we make
deeper, faster cuts to emissions, as we must, our world is now warmer.
Australians will feel the effects of that warming.
We ultimately cannot afford the price of business as usual, as embodied by so
many coastal developments."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
