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

The damage to generation Alpha’s prosperity from a business-as-usual approach to addressing climate change will be nearly 10 times that suffered by boomers, a Deloitte report suggests. Photograph: Christopher Furlong/Getty Images

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.