Australia will spend A$9 billion ($6 billion) on climate adaptation through 2030 as it braces for more frequent, severe and overlapping hazards caused by global warming, the government said in two climate-related reports on Monday.
The money is earmarked for flood mitigation, bushland conservation, supporting the agriculture sector to transition to net zero, and managing health impacts across society, among others, according to the National Adaptation Plan. That was released alongside a report that showed the nation at risk of losing A$40 billion a year due to climate change.