On the ABC’s vote compass survey of more than a quarter of a million people, about 12% rank it as their number one concern. Overall it’s in the top four, above housing, health and immigration.

“So why is it receiving so little attention? Perhaps it is because everyone has decided this is the ‘cost of living election’,” said Stephen Long, Senior Fellow and Contributing Editor at The Australia Institute.

“Fair call – but the reporting, commentary, and much of the campaign rhetoric largely ignores the significant role climate change plays in driving up prices.”

Australia Institute research shows a direct connection between climate change and the cost of living.

Key findings:

• Insurance premiums have soared due to an increase in natural disasters, with some households now spending over seven weeks of gross income just to cover home insurance.
• Food prices have risen by 20% since 2020, with climate-related disruptions wiping out harvests and making it harder for some regions to grow food.
• Energy costs remain high due to a reliance on fossil fuels, underinvestment in renewables, and fossil fuel exports locking Australia into high global energy prices, forcing Australians to compete with the global market for Australia’s resources.
• The impacts of the climate crisis disproportionately affect lower-income and regional households, who are already feeling the financial strain more severely.
• Climate change-related cost increases have also kept interest rates higher for longer.

“The Reserve Bank has repeatedly cited sticky “services inflation” as a reason for its reluctance to lower the cash rate,” said Stephen Long.

“Rising insurance premiums – driven by climate catastrophes – has been the main driver of this services inflation.

“Despite the overwhelming evidence, there are still voters who don’t believe in climate change – but their insurance companies sure do.”