Zali Steggall (Warringah, Independent) Share this | Link to this | Hansard source

My question is to the Treasurer. Climate change is projected to cost the economy up to $76 billion per year by 2060, making it one of the biggest threats to national productivity. The government has not released the national risk assessment nor the ONI report and is continuing to approve projects that will make this economic risk worse. You did not have adaptation or resilience at the table when it came to the Economic Reform Roundtable. What can you tell the Australian people about the financial exposure to climate risk of the economy?

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

Thank you to the member for Warringah for her important question. The exposure is substantial, and that's why it was part of the discussions at the Economic Reform Roundtable. It's why we had the Conservation Foundation there, it's why we had Ken Henry there—for that and other reasons. It's front of mind for the government.

I've been working very closely with the Minister for Climate Change and Energy on the risk and adaptation part of our climate change agenda. You're right to point out that it has very close alignment with all of our broader economic considerations as well. I've spent a lot of time with the minister on this question. He has said publicly, I believe, that we'll be releasing the risk and adaptation work this month, September of 2025, and when that happens I'll be part of that because we've worked very closely together on it. And, when we release that important work, I'll welcome the contribution from the member for Warringah. These are important issues, and they do have a lot of economic consequences attached to them.