Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank very much the member for Throsby for her question. Australia must not forget the fact that we are one of the hottest and driest continents on earth and therefore will feel the impact of climate change hardest and fastest of most continents on earth. As Treasury has reminded us also, the fact remains that early action on climate change is better for the economy than late action. It is also less costly. By reverse logic, and also consistent with our advice, if you defer action on climate change, the cost of adjustment to the economy becomes much greater later on.

The release of the report of the House committee inquiry into climate change and environmental impacts on coastal communities represents an important contribution to the national debate on climate change. Uncontrolled climate change could see a global sea level rise of one metre or more by 2100 and more intense storms threatening coastal housing and infrastructure. The report notes that in New South Wales coastal flooding, erosion and hazards currently cost around $200 million a year. Furthermore, more than 200,000 buildings along the state’s coast are vulnerable. If sea levels rose by 0.9 metres, 4,700 residential building lots along Lake Macquarie waterway foreshore alone would be inundated. In Queensland, coastal communities such as the Gold Coast and the Sunshine Coast are particularly vulnerable. With almost 250,000 vulnerable coastal buildings, Queensland is at the highest risk of all Australian states from projected sea level rise, coastal flooding and erosion. In Victoria, more than 80,000 coastal buildings and infrastructure are at risk from the projected sea level rise, coastal flooding and erosion, including some 18,000 dwellings in the Western Port region alone, valued, I am advised, in the vicinity of some $2 billion. In the Northern Territory, some 900 coastal buildings, including harbourside and port facilities, are vulnerable. In South Australia, more than 60,000 buildings along the state’s coast are likely to be at risk from sea level rise. In Tasmania, within the next 50 to 100 years, 21 per cent of Tasmania’s coast is at risk of erosion and recession from the sea level rising, affecting 17,000 coastal buildings.

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