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Older, bigger, slower growing, more diverse. Living standards at risk of going backwards. These were the key takeaways from the latest Federal Intergenerational Report (IGR), writes Dr Liz Allen. The intergenerational bargain or contract, which implicitly suggests that the country handed to each subsequent generation is the same, if not better, than the socioeconomic conditions enjoyed previously, has been eroded. Increasing or maintaining living standards can no longer be guaranteed. Australia’s dumb luck has run out.
The 2023 Intergenerational Report highlights the risk that climate change poses to Australia and its economy, including escalating insurance costs and threats to agriculture, tourism and infrastructure. It emphasises the negative effects that extreme heat can have on certain forms of work – notably those that involve physical exertion and where workers are exposed to ambient heat outdoors. Professor Lauren Rickards and Dr. Todd Denham explore the other ways that climate change will affect workers, productivity and the economy.
Read more Opinion article November 6, 2022Aurecon’s decarbonisation and climate-transition risk experts are seeing some organisations struggle with energy-transition risk in the face of supply-chain disruption. Dr Ben McGarry and Dr Belinda Wade discuss three supply-related assumptions that require a re-think.
Read more Opinion article September 1, 2015