Nov. 14 (Bloomberg) -- As many as 247,600 Australian homes will be at risk from rising sea levels by 2100 as a result of global warming, according to a report released by Climate Change Minister Penny Wong.

The report calls airports, ports and other industries also vulnerable, Wong said in an e-mailed statement. The government has set up a council to develop a strategy to counter the risks.

Prime Minister Kevin Rudd’s Labor Party government wants lawmakers to vote on carbon reduction laws this month as part of Australia’s strategy to lower its output of greenhouse gases, blamed for global warming. The government has yet to reach agreement with the opposition to ensure the proposals can pass into law.

“Every day we delay action on climate change we increase the cost,” Wong said. “The report shows the need to reduce the carbon pollution that is causing climate change.”

Between 157,000 and 247,600 existing homes may be subject to sea inundation and erosion, based on sea levels rising 1.1 meters (3.6 feet) by the end of the century, Wong said. More intense cyclones and ocean acidification will add to costs for ports and other industries, she said.

“The science tells us our climate is changing faster than first projected and the impacts are likely to be more severe,” Wong said. “These changes are happening already. We cannot afford to ignore the findings of the report.”

The government named Professor Tim Flannery to head a seven-member group to advise on responses to the threats.

To contact the reporter on this story: Tracy Withers in Wellington at twithers@bloomberg.net.

Last Updated: November 13, 2009 21:05 EST