A report released next month warns the Australian economy is at risk of being destabilised by both the direct impact of climate change and secondary effects, such as a slump in demand for coal. It also states that two-thirds of Australian bank assets are tied up in residential property mortgages - most of them being coastal dwellings, which are vulnerable to potential sea-level rises. This came as news broke that the government was going to postpone its post-2020 carbon emissions targets until today.
A report released today warns the Australian economy is at risk of being destabilised by both the direct impact of climate change and secondary effects, such as a slump in demand for coal. It also states that two-thirds of Australian bank assets are tied up in residential property mortgages - most of them being coastal dwellings, which are vulnerable to potential sea-level rises. This came as news broke that the government was going to postpone its post-2020 carbon emissions targets until next month.