Government report criticised for downplaying climate economic damage
The Albanese government's 40-year outlook calls climate effects 'highly uncertain'. But academics warn it ignores billions in economic damage already modelled.
The government's 40-year outlook says climate effects are 'highly uncertain'. The outlook points to shifts in global energy as a key source of doubt.
The report notes sea level rise will hit coastal areas. Hot temperatures will hurt worker output and farm yields.
Severe disasters will cost money. University of Melbourne climate expert Ben Neville said the report wrongly ignores economic damage already expected from climate change.
Treasury's own work found that a shift to net-zero would cost Australia $2 trillion by 2050. Flinders University water expert Sarah Wheeler said the report misses water scarcity risks.
These risks could badly hurt farm output and how people live. The report does highlight gains from renewable energy.
- 40 years to 2066
- Report projection period
- $2 trillion
- Disorderly net-zero cost by 2050
Why it mattersA government long-term plan that downplays climate costs is risky. It could steer Australia toward costlier economic impacts and more disruption in the decades ahead.
