climate inaction

Tue, 2014-09-23 07:00Chris Rose
Chris Rose's picture

Australia Sea Level Rise Will Rack Up $200 Billion Bill by 2100

Major coastal cities in Australia, that vast southern continent of perpetual surf, sun and endless barbeques, are facing a climate change bill of more than $203 billion in commercial, industrial and residential assets by the end of this century.

A new report by the Climate Council of Australia, Counting the Costs: Climate Change and Coastal Flooding, has found that coastal flooding and erosion caused by global warming will become a significantly larger problem with a projected sea level rise of 1.1 metres by 2100.

The report found that Australia is highly vulnerable to increasing coastal flooding because its cities, towns and critical infrastructure are mainly located on the coast.

Australia’s infrastructure has been built for the climate of the 20th century, the report said, and is unprepared for rising sea level.

Coastal flooding is a sleeping giant,” the report said, “If the threat of sea level rise is ignored, the projected increases in economic damage caused by coastal flooding are massive.”

Mon, 2012-10-29 12:25Carol Linnitt
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Conference Board of Canada: Economic Benefits of Tar Sands Hinge On Climate Inaction

By 2035 operators in Alberta's tar sands expect to produce 5 million barrels of the world's most environmentally dirty and energy intensive oil per day. Current daily production hovers around 2 million barrels. According to a recent Conference Board of Canada report, projected expansion of the tar sands will require roughly $364 billion in investment over the next 25 years and will create significant economic benefits for both Canada and the US.

However, the report, commissioned by the Canadian federal and Alberta provincial governments, acknowledges that the economic benefits of oil production in the tar sands hinges on continued global climate inaction.
 
Based on the 'New Policies Scenario' from the International Energy Agency (IEA), the Conference Board report, “Fuel for Thought: The Economic Benefits of Oil Sands Investment for Canada's Regions,” anticipates Canada and other participating countries will not achieve their 2009 Copenhagen Accord goal to keep global warming below 2 degrees Celsius. Projected growth in the tar sands is consistent with at least 3.5 degrees of warming.
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