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Australia Warns of Soaring Climate Disaster Costs Ahead of Wildfire ... - Bloomberg

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Australia Warns of Soaring Climate Disaster Costs Ahead of Wildfire Season - Bloomberg

Australia Warns of Multi-Billion Dollar Climate Disaster Costs

- Treasurer says disaster funding has risen 433% in three years
- Australia is preparing for a damaging fire season over summer

Australian Treasurer Jim Chalmers highlighted the soaring cost of disaster management in his nation ahead of a potentially disastrous wildfire season in the coming summer, fueled by El Nino.

Government funding for disaster recovery has blown out by 433% over the past three years, Chalmers said in excerpts of a speech to be delivered Tuesday in the northern city of Rockhampton. The costs stood at A$2.5 billion ($1.6 billion) in the year ended June 30.

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