Climate-proofing your next home and Virginia Trioli serves a bit on the side

The Australian Government Productivity Commission has released a new inquiry report – “Investing in cheaper, cleaner energy and the net zero transformation”. XDI’s analysis was used to model the potential reduction in extreme-weather related damage to housing assets from greater resilience measures. Climate hazards are projected to cause up to $744 billion in property damage by 2100. However, adapting existing properties to be more resilient and implementing improved land planning measures can reduce these damages by up to $240 billion.

Insurance costs are soaring for home owners in Australia and New Zealand as climate change leads to floods, fires and storms, pushing up inflation and threatening financial stability, experts say. “As premiums rise and coverage is withdrawn from high-risk areas, we can expect to see impacts on asset prices and the prosperity of communities,” said Philip Tapsall, head of corporate and finance sector engagement at climate risk experts XDI. “Without stronger action to reduce emissions and build resilience, we could see this have implications for financial stability.”

Tune in to this episode of The Elephant In The Room Property Podcast to hear XDI’s Philip Tapsall discuss climate impacts on property value, insurability and safeguarding investments.

XDI (Cross Dependency Initiative) unveiled the XDI Climate Risk Hub at New York Climate Week, introducing a comprehensive platform for on-demand climate risk analysis across industries and geographies.