Australia urgently needs a dedicated, independently administered fund to meet the escalating costs of natural disasters due to global warming.
A fund to protect Australians
Natural disasters already cost Australians over $13 billion every year. These costs will escalate over the coming years and decades as the frequency and intensity of natural disasters increases due to climate change.
The National Climate Disaster Fund is a proposal for an independently administered fund to reduce the cost burden of natural disaster response and recovery to Australian households, businesses and taxpayers.
It would be funded through a levy of $1 per tonne of carbon dioxide for all coal, gas and oil produced in Australia and would raise around $1.5 billion per year at the current prices and levels of production.
The levy of $1 per tonne of carbon dioxide is a small fraction of the economic harm caused by emissions from these activities. It would have virtually no impact on energy prices in Australia, or jobs in the fossil fuel industry, but would make a valuable contribution to meeting the increasing costs of natural disasters in Australia.
Make fossil fuel producers pay climate disaster levy – add your name!
Beneficiaries of the National Climate Disaster Fund?
Funding can be distributed amongst the most disaster impacted regions and sectors in Australia. These include:
