The Actuaries Institute has launched a new index that measures extreme weather conditions and changes to sea levels, called the Australian Actuaries Climate Index (AACI).
The index is designed to help policymakers and businesses assess how the frequency of weather extremes is changing over time. It was developed in consultation with Australia's Bureau of Meteorology, the Commonwealth Scientific and Industrial Research Organisation (CSIRO), leading insurance and natural hazard scientists and regulators.
Tim Andrews, a principal at Finity Consulting, collated the index, using data from the Bureau of Meteorology's network of weather stations and tide gauge facilities.
"The index is designed to help us understand how extreme weather, and hence risk levels, may be shifting as a result of climate change," Andrews said.