The Victorian Greens say new figures showing climate disasters are forcing us to effectively "build homes twice" have exposed the staggering cost of Labor's failure to invest in climate resilience.
The Insurance Council of Australia's annual report found more than 400,000 claims were lodged to repair or rebuild homes damaged by declared disasters between 2022 and 2026, at an insured cost of $11.3 billion. The cost of building has risen by 30 per cent in five years, outstripping inflation.
Every damaged home displaces a family and draws on the same builders, trades and materials desperately needed to build new housing - driving up construction costs, insurance premiums and pressure on an already stretched housing system.
Despite climate disasters already costing Victoria more than $2.7 billion every year, Labor rejected key recommendations from the Greens-initiated climate resilience inquiry, including a dedicated Resilient Homes Fund and stronger investment in climate adaptation.
The report also warns that the rapid construction of AI data centres will place further pressure on the same stretched building sector. The Greens say Labor's rush to fast-track Victoria's data centre boom is making the problem even worse.
The Greens are calling on Labor to urgently implement the climate resilience inquiry's recommendations, establish a permanent fund to help households protect and adapt their homes, and make fossil fuel corporations pay for it.
As stated by Leader of the Victorian Greens, Ellen Sandell:
"Labor was handed a blueprint to protect Victorian homes and communities and rejected it. That decision looks more reckless with every fire, flood and repair bill.
"Labor cannot keep fast-tracking coal, gas and data centres while pretending there will be no consequences for our climate, energy system or housing supply.
"Making the biggest polluters pay to climate-proof Victorian homes is cheaper and fairer than forcing families and taxpayers to keep footing an ever-growing repair bill."
