Editing IPCC:AR6/WGII/Chapter-11 (section)

==== 11.5.2.1 Observed Impacts ====

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In Australia, during 2007–2016, total economic costs from natural disasters averaged AUD$18.2 billion per year ( [[#Deloitte--2017a|Deloitte, 2017a]] ). Individual weather-related disaster costs across multiple sectors have exceeded AUD$4 billion, such as the 2009 fires in Victoria ( [[#Parliament%20of%20Victoria--2010|Parliament of Victoria, 2010]] ), the 2010–2011 floods in south-east Queensland ( [[#Deloitte--2017b|Deloitte, 2017b]] ), the 2019 floods in northern Queensland ( [[#Deloitte--2019|Deloitte, 2019]] ) and the 2019–2020 fires in southern and eastern Australia (Box 11.1).

In New Zealand, the annual cost of rural fire to the economy has been estimated at NZD$67 million, with indirect ‘costs’ potentially two to three times the direct costs ( [[#Scion--2018|Scion, 2018]] ). Insured losses from weather-related disasters cost almost NZD$1 billion during 2015–2021 ( [[#ICNZ--2021|ICNZ, 2021]] ). Floods cost the New Zealand economy at least NZD$120 million for privately insured damages between 2007 and 2017 (D. Frame et al., 2018). The 2007/2008 drought cost NZD$3.2 billion and the 2012/13 drought cost NZD$1.6 billion, of which about 20% could be attributed to anthropogenic climate change ( [[#Frame--2020|Frame et al., 2020]] ) (11.3.11).

The intangible costs of climate impacts, including death and injury, impacts on health and well-being, education and employment, community connectedness and the loss of ancestral lands, cultural sites and ecosystems ( [[#Barnett--2016|Barnett et al., 2016]] ; [[#Warner--2019|Warner et al., 2019]] ), affect multiple sectors and systems and exacerbate existing vulnerabilities. While often incommensurable, intangible costs may be far higher than the tangible costs. For example, following the Victorian fires in 2009, the tangible costs were AUD$3.1 billion while the intangible costs were AUD$3.4 billion; following the Queensland floods in 2010/2011, the tangible costs were AUD$6.7 billion while the intangible costs were AUD$7.4 billion ( [[#Deloitte--2016|Deloitte, 2016]] ).

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