Catastrophes like fires and floods could set the economy back more than $1.2tn by 2060, even if action is taken

Climate change-related disasters will cost Australia $73bn a year by 2060, even if action to curb emissions is taken now, a report has found.

And if nothing is done to tackle climate change, that figure will grow to $94bn a year by that date, a study by Deloitte Access Economics says.

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