Source: Unsplash/Chris Gallagher.
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The Australian government’s latest budget has committed $210 million for a new climate information service, $600 million for a new agency to promote natural disaster recovery and resilience, and $10 billion for a reinsurance fund to reduce insurance premiums in northern Australia.
That money split is symptomatic of a general focus on the impact of natural disasters — thinking about their costs in terms of direct damage to the built environment.
Lost homes and infrastructure, of course, do need to be replaced, and insurance claims do provide a neat way to calculate a tangible cost to a fire or
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