Opened the debate
Steggall moved a motion noting that climate change costs exceed $40 billion annually and could reach $73 billion by 2060. Steggall argued that current adaptation spending of $250 million per year is inadequate and called for an increase to 0.25 per cent of GDP, equating to $4 billion annually. The motion proposed establishing a National Climate Adaptation Authority, increasing financial assistance grants to local governments, and reforming the Petroleum Resource Rent Tax. Steggall emphasised the need for private-public partnerships with insurers and collaboration with First Nations to build community resilience.