The Economic Impacts of Climate Change in NSW
The Net Zero Commission’s Economic Impacts of Climate Change in NSW brief provides clear evidence that climate change is already driving up costs and reducing incomes in New South Wales, with impacts set to intensify without action.
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Key findings:
- Climate change has already imposed material economic costs on NSW
- Future economic outcomes diverge significantly under different global warming trajectories
- Adapting our communities and economy to the changing climate is critical to reduce economic loss
- The economic impact of climate change in NSW is driven by both global and local impacts
- Cumulative climate impacts slow NSW’s long-term economic growth
Background reports
This brief utilises two technical studies undertaken for the Commission:
- The first study by UNSW’s Institute for Climate Risk and Response (ICRR) modelled the economic impact of historical climate change to NSW.
- The second study by Deloitte Access Economics (DAE) (full technical study also available) assessed how climate change could impact NSW’s future economy and household incomes using its D.Climate Model.
Both studies have been published as technical reports alongside the Commission's report.
These studies were developed by external parties and are therefore not compliant with the NSW Government Accessibility requirements. Please contact us if you need assistance.
The brief is not intended as a report under the Act.