DEECA – Water and Coasts

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$442 billion economic loss by 2100: the economic impact of sea level rise and storm surge on Victoria revealed

By 2100, the impacts of sea level rise and storm surge are predicted to result in a $442 billion economic loss according to a study led by the University of Melbourne and commissioned by the Victorian Marine & Coastal Council and Life Saving Victoria.

  • Impacts on land and property along the Victorian coast are predicted to reach a loss of $337 billion, with a further loss of up to $105 billion for wetlands.
  • More than 80,000 existing residential, commercial, and industrial properties covering 45,000 hectares will be impacted.
  • 144,000 hectares of coastal reserves will be affected as will 288,000 hectares of Victoria’s wetlands.
  • The cumulative impact will be about $40 billion by 2040. Without action, it will grow ten times as 2100 approaches.
  • Appropriate action over the next decade will dramatically reduce the long-term costs.
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