Climate Change Authority Report: Invest in climate adaptation now to save billions a year in recovery costs - Steggall's Climate Resilience Plan Launched
Extreme weather disasters will cost Australians $8.7 billion a year by 2050 without strong action to address climate risks, underlining the need for national leadership on adaptation.
The new Climate Change Authority report Home safe: National leadership in adapting to a changing climate examines how climate change is increasing the frequency and severity of flooding, bushfires, extreme storms and coastal erosion, and the rising costs of these events for Australians.
Back-to-back disasters have cost the Australian economy $2.2 billion in the first half of 2025 alone.
Disasters like Cyclone Alfred and record flooding on the NSW Mid-North Coast have recently seen tens of thousands of Australians forced from their homes and burdened with major clean-up costs.
Climate Change Authority Chair Matt Kean said: “Our homes are our sanctuaries – and the biggest financial investment most Australians will ever make.
“Millions of Australian homes now face escalating risks from climate change. Devastating flooding on the NSW Mid-North Coast last month is the latest example, but won’t be the last.
“Authorities will need to review and tighten building codes. Parts of coastal Queensland and WA not now covered by cyclone construction standards may need to be, and soon.
“These are the kinds of practical steps we can take to make Australia more resilient in a changing climate. And they’re worth it – every dollar invested in reducing climate risks can save up to $11 in recovery costs,” Mr Kean said.
The Authority’s report calls for governments to reduce the physical risks of climate change by:
- making the right investments in infrastructure and services
- ensuring standards, laws and regulations are fit-for-purpose for a changing climate
- equipping Australians with the information and resources to improve their decision-making – including on decisions like where to build, buy or renovate a home.
“The upcoming National Adaptation Plan is an important step forward for Australian Government leadership to coordinate and amplify the efforts of state and local governments, businesses and communities.
“Government should back this up with funding, energetic implementation and embedding adaptation in business-as-usual planning across the board,” Mr Kean said.
“The Climate Change Authority recommends making the regular release and review of these plans a legislated government responsibility. We stand ready to play a part in tracking progress to ensure action genuinely builds national resilience and makes Australians safer.”
The surge in extreme weather disasters around Australia reinforces the need for national leadership on adaptation to keep communities safe in a changing climate.
Home safe: National leadership in adapting to a changing climate examines how climate change is increasing the frequency and severity of flooding, bushfires, extreme storms and coastal erosion, and the rising costs of these events for Australians.
The report draws on insights from experts, stakeholders and the voices of those affected by climate disasters.
Millions of Australian homes are facing escalating risks from natural hazards, which are growing more intense due to climate change. Bushfires, cyclones and floods are currently costing Australian homeowners around $4 billion a year in cleanup and recovery costs.
Some climate impacts are already locked in and will require governments and communities to take action to adapt.
The Australian Government can lead a coordinated, comprehensive and well-resourced national adaptation agenda which amplifies effort across all levels of government, businesses and communities.
You can download or read the June 19 released full report, Home safe: National leadership in adapting to a changing climate, on the Authority’s website.
Warringah MP Zali Steggall said on Thursday “I welcome the Climate Change Authority’s new report Home Safe and echo the call for coordinated, well-funded climate resilience to protect Australians and save billions in recovery efforts.
“Like the Authority, I’ve called for legislated national climate risk assessments and adaptation plans to guide investment and action. My $10b Climate Resilience Plan sets out a clear path to protect homes, reduce risk and lower recovery costs. We need urgent investment in adaptation now – the cost of inaction is simply too high, and it should not just be left to taxpayers alone to foot the bill.”
Background Information on Zali’s Climate Resilience Plan:
Zali launched her Climate Resilience Plan in March this year to protect Australian households, communities, businesses and the economy from escalating climate risk. The plan also aims to improve insurance affordability by tackling the number one driver of rising insurance premiums – the impacts of extreme weather made worse by climate change.
The Plan includes:
- $10 billion* for a new Climate Resilience Fund to deliver climate resilience infrastructure projects across the country
- $40 million to expand the work of the Resilient Building Council in measuring the resilience of homes and buildings and incentivising risk reduction (expanding the Resilience Rating System and developing a Household Climate Resilience Certificate).
- Legislating independent National Climate Risk Assessments and Adaptation Plans every five years, to embed a National Framework for Adaptation that ensures we are assessing, planning for and mitigating the impacts of climate-fuelled extreme weather.
- Updating the National Construction Code to adopt resilience standards and promote low cost, climate-resilient and energy-efficient housing.
- Co-ordinating all levels of government to create stronger land planning controls to ensure new developments are not built in high-risk areas (such as flood zones).
*The $10bn investment has been independently modelled by the Parliamentary Library to add $1.5bn to the Budget, to reinvest fuel tax credits into stronger infrastructure, smarter planning and more resilient homes.
More Detail at: Climate Resilience Plan - Zali Steggall
About the Climate Change Authority
The Climate Change Authority is a statutory body established under the Climate Change Authority Act 2011 to provide independent, evidence-based advice to the Australian Government on climate change policy. The authority is made up of a Chair, the Chief Scientist and up to 7 other members.
The Authority plays an important role in the governance of Australia's climate change mitigation policies, including by providing advice on:
- the preparation of the Annual Climate Change Statement to Parliament
- greenhouse gas emissions reduction targets to be included in new or adjusted nationally determined contributions (NDC).
The Authority also undertakes reviews of the Carbon Credit (Carbon Farming Initiative) Act 2011 (Australian Carbon Credit Unit Scheme), the National Greenhouse and Energy Reporting Act 2007, including the Safeguard Mechanism, and other matters as requested by the Minister for Climate Change or the Australian Parliament.
