Counting the costs of Australia's bushfires

It's not easy to estimate the total economic cost of Australia's bushfires that have burnt through vast areas of the country, especially as the fire season may continue as late as March. The total impact on human lives, the economy and environment is complicated and some costs may continue to grow for years to come. 

Considering the cost of the Australian bushfires.

The guests were Mayor of Shoalhaven Shire, Amanda Findley; Australian Laureate Fellow in Economics, University of Queensland, John Quiggin; Professor of Economics, Deakin Business School, Researcher, Bushfire and Natural Hazards CRC, Mehmet Ulubasoglu; and the Chief Economist, The Australia Institute, Richard Denniss.

Listen to the ABC podcast, The Money - “Counting the costs of Australia's bushfires.”

Bushfires spew two-thirds of national carbon emissions in one season

Australia's bushfires are believed to have spewed as much as two-thirds of the nation's annual carbon dioxide emissions in just the past three months, with experts warning forests may take more than 100 years to absorb what's been released so far this season.

Experts warn Australian forests may take more than 100 years to
recover all the carbon spewed out from bushfires this summer.

Until recently, Australia's forests were thought to reabsorb all the carbon released in bushfires, meaning they achieved net zero emissions, but scientists say climate change is making bushfires burn more intensely and frequently.

Read the story from The Age by Mike Foley - “Bushfires spew two-thirds of national carbon emissions in one season.”