Climate Change and Flood Risk in Australia
A new report reveals that flood risk has resulted in a $42.2 billion decrease in property values in Australia.
Climate pollution from coal, oil, and gas is endangering homes and risking the biggest asset of many Australians.
- The report analyzes over 20 years of historical property data alongside flood risk.
- Flood-prone homes in Australia are worth $42.2 billion less than they could have been without the risk of flood.
Climate pollution now blankets the world, trapping heat, leading to more evaporation and an atmosphere that holds more moisture, increasing flood risk in Australia.
Author's summary: Climate change worsens Australia's $42 billion flood risk.