A new Australian government report states that there are 56 “nationally significant climate risks facing Australia.”
The Department of Climate Change, Energy, the Environment and Water delivered Australia’s first National Climate Risk Assessment (pdf) together with the Australian Climate Service.
In one “plausible worst-case scenario,” the report warns financial services could be withdrawn from communities in response to extreme events.
“Such a shock in the local financial system may have cascading effects on infrastructure and the built environment (e.g., through house prices), potentially creating vulnerabilities in various communities with further potential flow-on impacts or pressures on other systems such as health and social support and Primary industry and food,” the report appendix outlining risks states (pdf)....
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