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Analysis shows natural disasters could cost NSW $9bn a year by 2060

by admineconai February 23, 2024
written by admineconai February 23, 2024
496

A new analysis from the NSW Reconstruction Authority has shown that while the highest natural hazard risks historically were from fires and heatwaves – and, at the moment, storms and floods – coastal hazards will dominate in years to come.

Reports show that the New South Wales coastline is increasingly at risk of severe natural disasters, with the state on track for an annual damage bill of $9bn by 2060 if the effects of climate change and population growth are not mitigated.

The modelling was contained in the state’s first-ever disaster mitigation plan being released on Friday. It was created to help NSW communities better prepare as the state grapples with the impacts of climate change and population growth.

“We know disasters will continue to occur,” the plan said. “While some disaster scenarios are too terrible to imagine, they have a realistic probability of occurring over our lifetime.”

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The plan outlines that while there was “often little we can do about the hazard itself”, risks can be lowered by reducing exposure and increasing resilience. Also, It included lists of the LGAs most at risk for natural disaster damage costs, with the Northern Beaches to overtake the Central Coast by 2060.

The NSW Reconstruction Authority’s deputy chief executive, Simone Walker, said that while some had expressed worry about “creating concern in community” with the league tables, she hoped people felt heard and supported.

“This is concern they live with on a daily basis,” she said. “One drop of rain in Lismore and people are heightened. This is a known unknown for these communities. What they want to know is that the state government, local government and their community has a plan to address it.”

The new plan will be launched by the reconstruction authority alongside the planning minister, Paul Scully, and emergency services minister, Jihad Dib.

Story was adapted from the Guardian.

$9bn2060CostDisastersNSWYear
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