The latest advice from the Intergovernmental Panel on Climate Change indicates that whilst water supplies will receive reductions in flow leading to greater droughts and water scarcity, there will be increases in rainfall intensity and severity throughout Australia leading to greater and more frequent flooding.  This increased rainfall intensity will lead to increases in flood damages into the future if not properly managed.  Rising sea level is also predicted which will not only directly impact on coastal properties on a day-to-day basis, but will also exacerbate flooding impacts.

When considering assets with a planned lifecycle of 50 years, 100 years, or more, it is important for asset owners to consider this risk in forward planning and to address it accordingly.