Tag Archives: cost

Costs of the climate crisis multiply in lives and dollars

Two excellent articles in today’s Age describe the increase in natural disasters caused by global warming, and the economic cost of last year’s bushfires.

The calamities are upon us as the world warms

THEY are the extreme weather events that climate scientists have been warning about – the simultaneous catastrophes of flooding in Pakistan, wildfires in Russia and landslides in China.

Many scientists say these events are all unprecedented and that such disasters, taken together, are proof of climate change. They warn that widespread and devastating flooding will become more frequent and could be considered normal by the middle of the century.

Almost 14 million people have been affected by the torrential rains in Pakistan, and more than 1600 have died, making it a greater humanitarian disaster than the south Asian tsunami and recent earthquakes in Kashmir and Haiti combined, the United Nations says.
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In Russia, firefighters and soldiers were battling to stop wildfires from engulfing key nuclear sites while Prime Minister Vladimir Putin took to the air in a water-bombing plane to join the effort. Morgues in Moscow are overflowing as officials estimate 5000 have died in the worst heatwave in 130 years.

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Climate change will cost us all

You don’t have to be Lord Stern to see how the costs of climate change are already compounding and spiralling, out of control.

Some costs are relatively benign – such as the devaluation of waterfront properties in Byron Bay as sea levels rise – a process starting in earnest whether estate agents like it or not.

Other costs are terrible, such as the conservative $4.4 billion figure put on last year’s Black Saturday fires by the Victorian Bushfires Royal Commission, including insurance claims of $1.2 billion (property and vehicles), $1.1 billion spent by the Victorian Bushfires Reconstruction and Recovery Authority, $658 million in destroyed timber, 173 lives lost worth $645 million according to established formulae (not counting injuries) and about $593 million spent on firefighting (not counting volunteers).

Climate change features minimally in the Commission’s final report, handed down a fortnight ago. That is interesting in itself, because when he announced the inquiry the Premier, John Brumby, said everything would be on the table, including climate change.

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