Rising seas could cost Australia economic losses of $855 billion, study finds

A new study estimates that rising seas and storm surges could damage roughly 268,000 Australian properties and 2 million hectares of land by 2100 under a moderate emissions scenario, for a present-value loss of $855.1 billion. Under a high-emissions path, nearly 720,000 properties and 3.7 million hectares could be hit, pushing losses as high as $1.91 trillion.

Queensland has the most exposed properties, followed by New South Wales and Western Australia, with the Gold Coast alone facing potential losses of $84.4 billion. The researchers, writing for the Climate Council's 'Rising Seas, Rising Bills' report, note that extreme sea levels now considered rare could become monthly events by 2090.

The study's authors recommend avoiding construction in high-risk zones and investing in coastal restoration, acknowledging these are difficult but necessary calls for communities already living with the consequences.

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