Natural disasters to cost Australia $33b per year by 2050 - Says Australian Local Government Association

PSI and Public Sector Unions have been working across the area of Natural Disasters for some time, with one of the key areas affected being Local and Regional Governments and Utility Services (Water and Electricity) , as part of infrastructure needs and responses . The below report from the Australian Local Government Association, quot's a report by the Australian Business Roundtable report for Disaster Resilience & Safer Communities ‘The Economic Cost Of The Social Impact Of Natural Disasters’. The report looks at the costs and long-term social impacts of natural disasters in Australia and finds the social costs of natural disasters in 2015 were at least equal to the physical costs (as outlined in our previous reports). 

The Business round table report located at http://australianbusinessroundtable.com.au/our-papers/social-costs-report and well worth a read . 

This report no doubt reflects similar social and infrastructure costs percentages in other countries where similar studies are yet to be undertaken 
 

http://alga.asn.au/newsletter/newsletters.ALGANEWS4March2016#Article14130
Natural disasters to cost Australia $33b per year by 2050 

The total annual cost of natural disasters in Australia is expected to increase from $9 billion to $33 billion per year by 2050, according to two new reports launched this week by the Australian Business Roundtable for Disaster Resilience and Safer Communities.
The reports deliver the first economic analysis of the social impact of natural disasters, and the benefits of ensuring infrastructure assets are more resilient to extreme weather events.
Highlighting three case studies from differing regions and periods ­- the 2010-11 Queensland floods, the 2009 Victoria Black Saturday bushfires and the 1989 Newcastle earthquake - the report estimates social costs are at least as high as, if not higher than, tangible costs such as the destruction of property.
The reports also found that $17 billion (in net present value terms) will need to be spent on the direct replacement costs of essential infrastructure impacted by natural disasters between 2015 and 2050.
Access the reports and read the Roundtable's recommendations at the following links: The Economic Cost Of The Social Impact Of Natural Disasters and Building Resilient Infrastructure.