Treasury

According to the report, a sea-level rise of 30cm (anticipated to occur between 2045 and 2070) could expose an additional $6 billion worth of buildings to at least a 1% chance of coastal flooding each year, compared to the $12.5 billion at the current sea level.

Treasury

1 year ago

Physical climate risks set to surge, putting billions in assets and infrastructure at risk: Report

A joint report by the Treasury and Ministry for Environment -- Climate Economic and Fiscal Assessment 2023 -- cautions that New Zealand...

The Intergovernmental Panel on Climate Change (IPCC) projects that by 2040, mean temperatures in New Zealand will be 0.7°C to 1.0°C higher than they were between 1986 and 2005, with the intensity of extreme rainfall events expected to increase by 5% to 7%. By 2050, sea levels are predicted to rise by 23cm to 28cm.

Treasury

1 year ago

New Zealand faces mounting climate crisis as evidence of environmental and economic impacts emerges

New Zealand is grappling with the harsh reality of climate change as a new report highlights the escalating environmental and economic consequences the country...

Physical climate risks set to surge, putting billions in assets and infrastructure at risk: Report

New Zealand faces mounting climate crisis as evidence of environmental and economic impacts emerges

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