Queensland seems to bear the brunt of economic damage from climate-fueled disaster; its total losses triple those of other states. The Climate Council's latest report revealed Queensland suffered the most economic damage from the climate emergency after record-breaking floods wreaked havoc in the state earlier this year.
Queensland's total losses from extreme weather since the 1970s were three times higher than Victoria's and 50 per cent higher than New South Wales, the report detailed. The report found Queensland copped $7.7 billion in social, financial and economic impacts due to the floods. Agricultural damage to southeast Queensland in the February floods was around $254 million.
Meanwhile, the spring flooding in NSW and Victoria could see up to $5 billion in damage to the grain harvest with 10 million tonnes of product already damaged.
The Climate Council warned the flooding that has caused millions of dollars in damage to growing regions could lead to food shortages and "higher supermarket prices for grocery staples like milk, fruit and vegetables".