New Report into the Costs of Natural Disasters
7th December 2017
The Australian Business Roundtable (ABR) for Disaster Resilience and Safer Communities has released itsfifth research report, ‘Building resilience to natural disasters in our states and territories’. The report, prepared by Deloitte Access Economics, focusses on the current and anticipated costs of natural disasters by state and territory to 2050, and examines the importance of building resilience.
The report states that the total economic cost of natural disasters in Australia over the 10 years to 2016 averaged $18.2 billion per year, and this is forecast to more than double to $39 billion per year by 2050. It provides examples of cost effective resilience investment, and points out that building resilience not only reduces future natural disaster costs, it also provides more reliable services, better business confidence and new job opportunities.
FMA was represented at the NSW launch of the report in Sydney on 21 November by Executive Officer Glenn Evans who said it was pleasing to see senior representatives from a wide range of agency and non-government organisations in attendance, including the NSW Minister for Emergency Services, the Hon Troy Grant who introduced the event.
More on ABR and the report, is available at their website.