Home / Environment / Australia's Coastline: $855 Billion at Risk by 2100
Australia's Coastline: $855 Billion at Risk by 2100
10 Sep
Summary
- A quarter million homes worth $274 billion face loss by 2100.
- Australia could lose $855 billion to sea level rise by century's end.
- Insurers may deny claims for 'actions of the sea' like erosion.
New data indicates that by 2100, approximately 250,000 Australian homes, valued at $274 billion, could be lost due to sea level rise. Conservative projections suggest Australia faces potential losses of at least $855 billion from property and land use by the end of the century, driven by current emissions.
Queensland is projected to lose the most homes, with a significant concentration in the Gold Coast. NSW faces the risk of losing over 71,000 properties, particularly in its northern coastal areas and the Central Coast. Western Australia, despite its long coastline, could experience the greatest economic impact, estimated at $230 billion.
Victoria expects to lose the largest amount of residential land, with 17,364 homes at risk across 27,000 hectares, including affluent Melbourne suburbs. Dr. Andrew Watkins of the Climate Council highlighted that combined events like high tides, sea level rise, and storm surges can exacerbate inland damages.
The report notes that many losses, such as tidal inundation and coastal erosion, might not be covered by insurance as they are considered foreseeable. Already, 14 centimeters of sea level rise are locked in for the next 25 years. For every 10 centimeters of rise, extreme events become three times more frequent.
Inverloch, Victoria, serves as an example, having lost over 70 meters of foreshore since 2012. Residents are documenting extensive erosion, with one event in August 2024 alone causing 18 meters of beach loss. The Climate Council advocates for planned retreat and "no build" zones, stressing the urgency of reaching net zero emissions.
