Clearly, there is a vast disconnect between the coastal property market and climate change impacts such as increasingly severe storms, tidal surges, coastal erosion and flooding. There is no shortage of reports, studies and analyses confirming the climate risks we are already living with. Yet another alarming State of the Climate report was released last week.
The 2022 Energy & Climate Summit will be remembered for the coincident surge in electricity futures pointing to a 35 per cent rise in household energy costs in 2023.
Some parts of New South Wales have been flooded four times in 18 months. Retreat and relocation from properties in high-risk areas must now be central to climate adaptation. My research provides lessons for Australia from around the world in how to manage this difficult task.