Adaptation 'one of most critical reforms' ahead for Australia

Sid Maher in the Australian: Climate change could put at risk buildings with a replacement value of $63 billion as sea levels rise and storm surges batter coasts. The Climate Change Department, in its "red book" briefing to new minister Greg Combet, says adapting to the effects of climate change on Australia's coastal communities, infrastructure and agricultural industries represented "one of the most critical micro-economic reforms for Australia over coming decades".

"For example, improving coastal planning today could decrease the cost of a one-in-100-year storm surge in southeast Queensland in 2030 by $0.9 billion." The department also told the minister the private sector would have to bear a share of the costs of the effects of climate change. "It is neither affordable nor consistent with sound risk management for governments (commonwealth or state) to bear all the costs of adaptation." it says.

Most of the assets and activities at risk belonged to the states, local government or the private sector, but as climate change impacts increased, so would demands on the federal government to assist with the costs of adaptation….

Under the Sydney Harbour Bridge, shot by Corey Leopold, Wikimedia Commons via Flickr, under the Creative Commons Attribution 2.0 Generic license