A new government report confirming the impact climate change is having on New Zealand, could have far reaching implications for the insurance industry.
The Ministry for the Environment and Statistics New Zealand said New Zealand was feeling the impact of excess greenhouse gas emissions in our climate and oceans. The report, released yesterday, provided projections for New Zealand’s climate, and the factors influencing high summertime ultraviolet light levels.
Key findings included that carbon dioxide levels in the atmosphere had increased by 23% over the past 45 years, and global gross greenhouse gas emissions had risen 51% from 1990 to 2013. That figure is compared to New Zealand’s gross greenhouse gas emissions, which have risen 24% from 1990 to 2015.
The report also showed that agriculture made up nearly 50% of all our gross emissions, but road transport has had one of the largest increases, with a 78% leap since 1990.
Temperatures have increased by 1°C since 1909 and our glaciers have lost 25% of their volume since 1977. Sea levels have risen 14-22cm at four main New Zealand ports since 1916.
Government Statistician Liz MacPherson said: “We have enough data on measures like annual average temperature to confidently say New Zealand’s climate is warming. That is showing up, for example, in the significant loss of our glacier volume.
“National and international data collections on the atmosphere and climate are increasingly comprehensive but there are still some things we don’t know at this time, in particular the full impact of climate change on our biodiversity, cultural values and the economy,” Ms MacPherson said.
Secretary for the Environment Vicky Robertson said the most concerning change in our atmosphere is the unprecedented high levels of carbon dioxide, which are leading to increasing global temperatures and changes to our oceans, including rising sea levels and increasing ocean acidity.
“The future impacts of climate change on our lives all depend on how fast global emissions are reduced and the extent to which our communities can adapt to change,” Robertson said. “Encouragingly, the report shows international efforts have been successful in phasing out the use of ozone-depleting substances. This has led to gradual recovery of the ozone hole.”
Munich Re said higher than average water temperatures on the surface of the tropical North Atlantic contributed to the “monster storms” in August which resulted in the category 5 hurricanes Irma and Harvey.
Munich Re added that cyclone activity in the Atlantic varied greatly depending on natural climate fluctuations. “Yet ocean temperatures in the Atlantic have been increasing steadily over the last few decades due to climate change as well, and this may be driving stronger storms,” it said.
“In addition, global warming is contributing to an increase in water vapour in the atmosphere, which means that tropical cyclones will have greater rainfall potential.”
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