Coastal defences need $30bn boost to prevent Australian homes becoming uninhabitable
by Peter Hannam from on (#5RZVN)
Exclusive: Investment would avoid disruption to communities as coastal floods and erosion worsen with rising sea levels, insurance council says
Australia will have to spend $30bn over the next half century to bolster coastal defences against the threat of rising sea levels and other global heating impacts to cope with more exposed properties becoming uninhabitable, the Insurance Council of Australia has said.
The ICA, an industry group representing insurers and reinsurers, described the funding as modest" compared with the bill of not taking action to limit a widening protection gap" in insurance.
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