Experts Fault Australia’s 2066 Outlook for Downplaying $2 Trillion Climate Risk
Updated
Updated · The Guardian · Sep 22
Experts Fault Australia’s 2066 Outlook for Downplaying $2 Trillion Climate Risk
1 articles · Updated · The Guardian · Sep 22
Summary
Australia’s latest intergenerational report drew sharp criticism for treating climate damage over the next 40 years as highly uncertain, despite warning that more frequent and severe disasters will pose a significant economic risk.
Treasury modelling cited in the report shows a disorderly net-zero transition could cut cumulative output by $2 trillion by 2050, but academics said the document still understates losses because standard models miss complex climate impacts already hitting the economy.
Sea-level rise, lower worker productivity, weaker crop yields and tourism damage were flagged in the report, while outside experts said it also overlooked water scarcity, flooding and drought risks that could heavily erode productivity and wellbeing.
The report still argues Australia can gain from renewables through green iron, green ammonia and carbon-neutral fuel exports, though investors warned fast-rising datacentre power demand could strain the grid and lift energy prices without new firmed clean supply.