Issue Climate change hitting lower-income households via food and insurance

Summary

One of the longer-term uncertainties for vulnerable people identified by the report is the uneven impact of climate change. Climate change could raise food prices and deepen food insecurity, placing a heavier burden on lower-income households. In areas exposed to storms and floods, insurance could become unaffordable and leave poorer households without cover. The report explains that vulnerable communities have fewer resources and less capacity to build resilience in advance and are more likely to face financial hardship when risks materialise. It also expects vulnerable groups to suffer more in acute events such as heatwaves, because of less resilient housing and fewer resources to adapt.