Global warming could see heatwaves – which kill more Australians than any other natural disaster – triple in frequency and last longer by 2060.

A report released today by the Actuaries Institute says deaths from heatwaves could rise by 12% among over-65s by 2060-2080 in some regions.

“More frequent, longer and hotter days will drive a significant increase in mortality, with Australia’s ageing population amplifying the number of people who will die as a result of climate change,” the Institute says.

The study, The Impact of Climate Change on Mortality and Retirement Incomes in Australia, was written by Senior Actuary and Associate Investigator Ramona Meyricke, and Senior Fellow at the Centre for Excellence in Population Ageing Research at the University of NSW, Rafal Chomik.

The paper examines how climate change will affect Australians – including the impact on economic growth, health and mortality, government spending and investment returns.

It says there will be consequences for individuals and businesses including health, general and life insurers, pension providers, investors, and emergency services and governments.

“Understanding the potentially significant implications of climate change is crucial to Australians’ wellbeing,” Actuaries Institute President Nicolette Rubinsztein said.

Click here to read the full report.