Communities in Australia and the Pacific are paying the price for climate change.
We are all paying higher insurance costs, food costs and other cost-of-living increases because of climate change. The cost of climate disasters in Australia is now $38 billion per year, equivalent to $3,800 per household on average.
The highest costs are paid by communities directly hit by disasters. Some families lose their home and their livelihood, and communities lose important infrastructure. In Vanuatu, for example, a shocking three severe cyclones hit in 2023, destroying homes and crops and costing nearly 70% of the country's annual GDP in recovery costs.
In Australia families have lost homes due to extreme flooding and devastating bushfires, and farmers are losing crops as they face extreme droughts, bushfires and floods.
