Look out Australia:

January 30, 2007
Page 1 of 2 | Single page

The Great Barrier Reef will become "functionally extinct" within decades at the current rate of global warming, while wilder weather is set to affect property values and drive up insurance bills in many Australian coastal communities.

A confidential draft of a major international report, obtained by The Age, shows that without massive greenhouse gas emission cuts to slow global warming, damage to coastal areas, key ecosystems and the farming sector is likely to cost Australia's economy billions of dollars.

On Saturday, The Age reported that the world's authoritative body on global warming, the Intergovernmental Panel on Climate Change (IPCC), was preparing to strengthen its findings in a scientific assessment being released in Paris this week.

In coming months, the panel will also release two more reports, summarising key research on global climate impacts and solutions to climate change. CONTINUED HERE.