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"The Australian Climate Roundtable
(ACR) is a forum that brings together leading organisations from the
business, farming, investment, union, social welfare and environmental
sectors. Since 2014 we have sought and found common ground on responding
to the challenge of climate change."
28 Aug 2020
* Unprecedented economic damage to Australia and our regional trading
partners from acute (e.g. extreme events) and chronic (e.g. sea level
rise) changes in climate. Significant impacts on coastal regions,
agriculture, human productivity and infrastructure. The economy-wide
costs of not achieving the Paris Agreement objectives far outweigh the
costs of a smooth transition to net-zero emissions.
* Risks to financial stability and particularly the insurance
industry. The ability of the insurance and reinsurance markets to
support Australian investments and communities would be compromised.
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| Drought |
* Major acute and long-lived human and community social andhealth
impacts. This includes both loss of life and livelihood from extreme
events through to long-term medical conditions such as post-traumatic
stress disorder. Many communities and regions will suffer a constant
cycle of natural disaster and rebuilding or face relocation.
* Irreversible damage to Australian unique natural heritage, including
Australia's iconic and internationally significant ecosystems such as
the Great Barrier Reef and Kakadu National Park.
* Significant threats to agriculture, forestry, nature-based tourism
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| Destroyed forests |
and fisheries. Unconstrained climate change is a risk to Australia's
domestic food security.
The impacts of climate change will also put many governments under
fiscal stress. Tax revenues will fall dramatically and increases in the
frequency and severity of weather events and other natural disasters,
which invoke significant emergency management responses and recovery
expenditures, indicate that pressure on government budgets will be
especially severe.
Related: Australia fires: Similar or worse disasters 'will happen again' (excerpt): BBC