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Moody’s warns mortgage market of growing climate change risks

Image: Kelly Sikkema, via unsplash

BRIEF: The increase in natural disasters in Australia is putting a strain on borrowers’ incomes and their ability to make mortgage repayments, according to Moody’s.

According to the Sydney Morning Herald, a report by Moody’s analysts Joanne Kung and Ilya Serov found that natural disasters such has floods and bushfires can disrupt economic activity and therefore reduce borrower incomes, and that climate change is “likely to result in more extreme weather events”.

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