Economic and social costs of climate change

Economic costs

Unmitigated climate change will impose greater economic costs on Queensland than on any other Australian state or territory. Damage to infrastructure, reduced demand for key export commodities and declining agricultural production make up the main economic costs of unmitigated climate change.

The physical impacts of climate change will affect the industries that rely on climate-sensitive resources.

In the context of a global agreement to reduce greenhouse gas emissions, the costs of mitigation are manageable. By avoiding climate change impacts through mitigation actions, the benefits far outweigh the costs.

The economic costs of climate change (PDF, 530K)*

Social costs

It is clear that while there are costs of taking action in the short term, Australia and Queensland will reap the benefits of the avoided costs of climate change in the longer term. Strong and decisive action will preserve many of the social and environmental values that enhance peoples quality of life and make Queensland a great place to live.

The physical impacts of climate change affect both the industries that rely on Queenslands natural resources and the social and community values associated with a healthy environment. Low income and disadvantaged groups are most vulnerable to the physical, social and economic impacts of climate change.

The social costs of climate change (PDF, 184K)*

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Last reviewed 20 December 2010
Last updated 20 August 2009