Infrastructue at risk from extreme weather: report

Victoria’s state-owned or regulated infrastructure faces over $57 billion in potential damage from extreme weather, according to a report by Infrastructure Victoria. The state’s independent infrastructure adviser assessed $318 billion worth of assets across Victoria, identifying risks from bushfires, floods, extreme heat, and other climate hazards. Eastern Gippsland and the Latrobe Valley are hotspots, with the latter at risk of $7.2 billion in energy infrastructure losses by 2030 and $10.1 billion by 2070. Road networks in Melbourne, central Victoria, and along major routes to Wodonga and Traralgon are particularly vulnerable to flooding, bushfires, and heat. The report highlights that bushfires threaten over $23 billion in existing infrastructure, rising to $30 billion by 2070, while flooding risks $22 billion today. Infrastructure at risk from extreme heat is projected to more than double to nearly $26 billion by 2070. Dr. Jonathan Spear, Infrastructure Victoria’s CEO, emphasized the need for proactive adaptation to reduce future damage and recovery costs, which have averaged $2.7 billion annually for the past decade. Victoria’s 2025–2055 infrastructure strategy recommends funding high-priority adaptation measures, such as preventative road maintenance and flood-resistant upgrades. Infrastructure Victoria’s data shows that every $1 spent on clearing roadside drains and vegetation returns $5.88 in cost savings, while foamed bitumen stabilization for roads yields nearly $3 in benefits per dollar invested. The report also cites global findings that resilient infrastructure can deliver up to $10 in benefits for every dollar spent. Spear urged the government to update and fund adaptation plans, noting that while some measures are already in place, broader action is needed across all sectors. The 2022 floods alone cost the state $1.8 billion in immediate relief and $1.7 billion in recovery, underscoring the economic urgency of climate-proofing infrastructure.