Australia’s generation Alpha faces $185k bill over lifetime without urgent action on climate crisis, report finds

Global heating consistent with current projections would cost average millennial $130,000 and $165,000 for gen Z, according to Deloitte modelling Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast The next generation of Australian workers will cop a $185,000 bill over their lifetimes if the country does not act more urgently to address the climate crisis, according to new modelling by a team of young economists at Deloitte. The new report finds that global heating consistent with the current projections would cost the average millennial about $130,000 over the rest of their lives, increasing to $165,000 for gen Z. A gen Z Australian’s lifetime income could be $165,000 lower by 2070 without further global action. For generation Alpha, the eldest of whom turn 16 this year, the bill stretches to $185,000 a person by 2070. The report estimates the damage to worker productivity, infrastructure and property, as well as increased health risks and healthcare costs. The changing climate and more frequent and extreme natural disasters would undermine tourism and destabilise agriculture. Rhiannon Yetsenga, an associate director