Australia wildfires News

Frequent Wildfires Decimating Forests Becomes Concern Worldwide

Wildfires among ponderosa pines and Douglas firs of the U.S. West have long been part of nature’s cycle of renewal, as much as the changing of the seasons. But as climate change makes the region more arid, wildfires have grown …

After Australia’s 2019 Floods, Insurers Begin to Bail, Banks Keep Lending

Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …

Australia Faces Worsening Bushfires Without Climate Change Action: Report

Australia risks worse wildfires than this season’s record-breaking blazes unless it reduces emissions and phases out fossil-fuel exports, climate scientists warned. In a report titled “Summer of Crisis,” the Climate Council lobby group said Australian governments ignored warnings from scientists …

Climate Change Heightens Risk of Fierce Australia Wildfires: Study

Climate change is adding to the risk of fierce wildfires in Australia, according to a scientific study of this season’s blazes that razed an area the size of England and killed dozens of people and more than a billion animals. …

Australia Regulator Seeks to Understand Financial Risks of Climate Change

Australia’s prudential regulator said on Monday it was looking to better understand the financial risks of climate change and would begin undertaking deeper assessments of the industry’s vulnerabilities to improve resilience. The Australian Prudential Regulation Authority (APRA) will develop industry …

Australia’s Central Bank Chief Warns of Economic, Financial Effects of Climate Change

Australia’s central bank chief Philip Lowe warned of wide-ranging economic and financial impacts from climate change, after his drought-stricken nation suffered some of its worst wildfires ever. Speaking on a panel with his Canadian counterpart, Lowe pointed out that drought …

Australia’s Capital, Canberra, Faces Worst Bushfire Threat in 17 Years

Canberra, Australia’s capital that’s surrounded by bush, is facing its worst wildfire threat in 17 years as a blaze sparked by a military helicopter approaches the city amid heatwave conditions. Residents in Canberra’s southern suburbs should be vigilant after the …

Australian Insurers Should Be Able to Withstand Mounting Bushfire Claims: AM Best

Australian insurers are well-capitalized and should be able to withstand losses from the 2019/2020 bushfire season, aided by strong capital positions and support from reinsurance partners, said AM Best. The ratings agency explained that comprehensive use of reinsurance has helped …

As Insurers Pull Back from Australia’s Bushfire Zones, They Could Become Uninhabitable

Australian wildfires that have razed thousands of homes and blackened an area about the size of England may also create the nation’s first climate refugees. That’s the view of Michael Mann, distinguished professor of atmospheric science at Pennsylvania State University, …

Bushfire-Ravaged Australians Face Choice in Era of Climate Change: Rebuild or Leave?

It took two years for Nigel Allison to build his mud-brick house on a sleepy southeastern tip of Australia, and just hours for it to be gutted by fire. The cherished three-bedroom home built in 1986 was one of several …