There will be winners and losers from climate change, and that means the climate is not getting "worse".

Key points: A Department of Environment official was not prepared to say the climate is getting "worse"

A Department of Environment official was not prepared to say the climate is getting "worse" She argued that changes will advantage some parts of the world

She argued that changes will advantage some parts of the world A report from Moody's earlier this year found that Canada may benefit under projected temperature rises

That's the view inside Australia's Department of Environment, which insists it provides "frank and fearless" advice to Federal Government ministers.

Jo Evans, deputy secretary of the department, told a Senate hearing on Monday that whether you used "worse" or "better" to describe climate trends depends on where you were on the globe.

"Some parts of the world — they will find some of those changes working to their advantage, some of them not so much," she said.

Last year's report from the Intergovernmental Panel on Climate Change identified the people and places at a higher risk from rising temperatures.

"Populations at disproportionately higher risk of adverse consequences with global warming of 1.5 degrees Celsius and beyond include disadvantaged and vulnerable populations, some indigenous peoples, and local communities dependent on agricultural or coastal livelihoods," the report warned.

"Regions at disproportionately higher risk include Arctic ecosystems, dryland regions, small island developing states, and least-developed countries."

Despite the sober outlook, some have identified other groups and regions that might benefit if global warming trends continue.

Adaptation providers

As the climate warms, extreme weather events are predicted to become more common.

A report from investment bank Morgan Stanley last year identified this as a possible commercial opportunity.

"Developing countries may offer investment opportunities in new construction and infrastructure projects that are built to hold up under extreme weather events," it stated.

"Investments can include companies that help refit existing buildings and reinforce energy infrastructure for more resilience."

Construction of sea walls was among the examples it listed.

The Center for Climate Integrity, based in the US, estimates it will take at least $42 billion to build sea walls to block storm surges for all threatened American coastal cities with more than 25,000 residents by 2040, according to The New York Times. Protecting all coastal communities would cost more than $400 billion.

Shackowners along the coast at Chinaman Wells on South Australia's Yorke Peninsula are building their own sea wall to protect their properties from storm surges. ( Supplied: Doug Pritchard )

Arctic entrepreneurs

US Secretary of State Mike Pompeo addressed the Arctic Council Ministerial Meeting in Finland earlier this year, highlighting opportunities in the region.

"The Arctic is at the forefront of opportunity and abundance," he said.

"It houses 13 per cent of the world's undiscovered oil, 30 per cent of its undiscovered gas, an abundance of uranium, rare earth minerals, gold, diamonds, and millions of square miles of untapped resources, fisheries galore."

Although sea level rises caused by melting ice caps threaten coastal communities around the world, less ice in the Arctic means more access.

"This could potentially slash the time it takes to travel between Asia and the West by as much as 20 days," Mr Pompeo said.

"Arctic sea lanes could become the 21st century Suez and Panama canals."

Warmer temperatures could unlock the Arctic for shipping and mineral extraction. ( Supplied: Amelie Meyer )

Baseball sluggers

Researchers from the University of Michigan suggested the changing climate around the Mediterranean might be reducing the quality of cork that makes baseballs.

The outcome? More home runs.

Defence and aid contractors

Although Australia's defence force is still developing a climate change strategy, it's wary of risks and warns that a changing security paradigm may stretch its capability.

The Defence Force expects Australia might be called on to conduct more humanitarian and disaster relief operations as a result of climate change.

International experts have noted it's difficult to attribute an individual conflict to climate change, but that the risk of climate-induced violence grows as temperatures increase.

"Think of climate change as 'loading the dice', making conflict more likely to occur in subtle ways across a host of different country contexts," two professors wrote recently in The Washington Post.

A freedom of information disclosure from the Department of Defence last year stated the increased potential for conflict could lead to "an increase in the demand for a wide spectrum of Defence and Government responses".

Private Daniel Bond and resident at Dillon's Bay in Vanuatu work together on building repairs after Cyclone Pam in 2015. ( ABIS Tom Gibson )

Canada

Earlier this year, the analysis branch of ratings agency Moody's released a report about the economic implications of climate change.

It predicted higher temperature increases would mean more global damage, but also that they would impact nations differently.

Canada is set to perform the best of the world's large economies, with little projected change to GDP in 2048, even in a scenario modelled on high temperature increases.

This outcome was linked to the changing climate creating more arable land and longer seasons in the region.

Joe Oliver, former minister of finance in the Conservative government, wrote an opinion article in response asking why Canada should fight climate change.

"Our focus needs to be on adaptation, reduction and protection, as well as on building resilience and increasing survivability."

The projected hit to Australia's GDP, according to Moody's, is proportionally similar to that to be experienced in China.