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There goes the neighbourhood: climate change, Australian housing and the financial sector

Policy Online carries a link (30.5.16) to a Climate Institute report outlining the financial risk to Australia’s housing and property sectors posed by the increasing effects of climate change.

There goes the neighbourhood, is the largest review of the financial implications of climate risk to housing in Australia.

‘Natural hazards that are introduced or exacerbated by climate change include coastal shifts (erosion, storm surge, inundation etc.), riverine flooding, and bushfires. These risks are often poorly understood and communicated to those buying or building property in along Australia.

‘The paper finds that despite many public policy reviews and recommendations, and several private sector initiatives, policies and industry practices actually encourage the continued development of vulnerable housing in exposed areas.’

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