A new poll commissioned by IAG New Zealand has revealed that more Kiwis are becoming personally concerned about the impact of climate change on their homes and communities.
The poll, which included 1,000 respondents, was carried out by Ipsos last month for IAG New Zealand’s second annual survey.
When asked about the possible effects of climate change, 86% of the respondents said they expect more frequent and extreme storms while 85% expected flooding due to rising sea levels.
“This research indicates clearly that climate change is a growing concern for Kiwis, but people are worried that we will not be able to reduce its impacts,” Craig Olsen, chief executive at IAG, told NZ Herald.
“For government, business, and New Zealand as a whole, that is an indication of the size of the challenge ahead.”
Read more: Climate emergency declared in Auckland
When asked about business response, 41% of the respondents said that insurers should increase premiums for homes and businesses that face more climate change risk, while 40% believed that banks should lend less to those that are vulnerable to climate change.
However, only 22% of the respondents thought insurers and banks should get those in low-risk areas to help pay for high-risk locations.
Climate Change Minister James Shaw also warned insurers about the increasing financial risk from climate change.
“We're seeing impacts now, with the flooding that's left that huge clean-up on the Fox River, the wildfires in the Nelson Tasman earlier this year and on the Port Hills in Christchurch a couple of years ago,” Shaw told NZ Herald.
“Add to that warnings from the insurance industry about the likely increasing financial risk from climate change and it's understandable that more Kiwis are concerned about climate change.”
