The Federal Government has released a new report that finds climate change is happening faster – and is more serious – than first thought.

Climate Change Minister Penny Wong says the report, compiled by Australian National University Climate Change Institute Executive Director Will Steffen, shows continuing inaction over climate change is inexcusable.

“This new report reinforces the damaging effects climate change will have in Australia,” she said. “Unless we act now, it will only get worse.”

The report identifies an urgent need for effective reduction in greenhouse gas emissions to avoid crossing climate system thresholds.

“Once thresholds in ice sheet and carbon cycle dynamics are crossed, such processes cannot be stopped or reversed by human intervention,” Professor Steffen said.

A rise in sea levels, severe recurring droughts, heatwaves, floods and bushfires are the most urgent risks in Australia.