The Great Barrier Reef. Photo: shutterstock.com
The Great Barrier Reef is both a World Heritage site and an economic asset that provides jobs, income and government revenue. Therefore, it should be insured against catastrophic events to guarantee its long-term resilience, the report says.
December 05, 2019 at 04:11 PM
1 minute read
Correspondent, Sydney
Australia’s Great Barrier Reef is in such dire condition it should be insured for A$56 billion (US$38 billion) against climate risks and environmental damage, global law firm Clyde & Co says in a report.
The report, ‘Threats, challenges, and opportunities for the sustainable future of Australia’s greatest environmental asset’, states that the Barrier Reef risks being overwhelmed by coral bleaching, sea-level rises, ocean acidification, and pollution.
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