The Gold Coast is facing more flooding and fires within the next century due to changing climate risks according to a report from risk analysis firm, Climate Risk.
The report analysed how changing climate risks would impact upon insurance premiums across the country, with data suggesting one in six Gold Coast properties could become uninsurable due to an increased frequency of natural disasters and a projected sea level rise of 80 centimetres by 2100. It projects that more than half of the current addresses in the suburbs of Palm Beach, Broadbeach Waters, and Bundall may face unaffordable insurance premiums by 2100, with potential increases of up to 55.5 per cent by 2050.
The City of Gold Coast’s climate change strategy expired in 2014 and has not been revised since. Mayor Tom Tate said while there were no immediate plans to revise the strategy, climate change has been factored into the council’s proposed City Plan.
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