ABSTRACT
Wildfires are a result of extended dry spells with high air temperatures and cause billions of dollars in losses every year that can be difficult to quantify. It is essential for industries and governments to discount environmental risk in forecasting models to reduce wildfires’ economic and industrial impacts. The Australian bushfires of 2019–2020 have been recorded as an extreme mega-fire occurrence. They spanned an area over 14 million acres; displaced 90,000 people; and killed 25,000 koalas and 50% of the grey-headed flying foxes born in 2019, in addition to countless other species. The bushfires led to losses of $3.5 billion for the Australian economy and $1.65 billion for the insurance industry. This chapter seeks to capture the scale of the ecological and economic impact of this disaster by providing statistical data linking climate change to an increase in disaster seasons; the Australian government’s resistance to take decisive action against climate change; and scientific developments like NATHAN and NatCatSERVICE that will help to better predict future fire occurrences.
