Climate Change Could Cost Australia $1.8 Billion in Crop Losses: Treasurer

The carcass of a kangaroo is seen by the side of the road in Wilcannia, Australia, on March 6, 2019. Mark Evans/Getty Images

Australian Treasurer Jim Chalmers has warned climate change could cost Australia $1.8 billion in crop losses in 30 years if action is not taken.

“If further action isn’t taken, Australia crop yields could be 4 percent lower by 2063—costing us about $1.8 billion in GDP in today’s dollars,” he told the National Drought Forum on Sept. 26.

Hosted by the federal Department of Agriculture in partnership with the National Farmer’s Federation, the Forum is focused on reducing the impact of El Niño weather patterns, which could mean drier conditions in the coming years.

Minister for Agriculture Murray Watt said the recent El Niño declaration further confirms the coming drought season. Preparation and information sharing are key.

“With the recent El Niño declaration, we know that drought is inevitable sooner or later across this great land, but by sharing what works, partnering with one another to solve problems, and embracing new technology, we can reduce the impact on communities and help them bounce back faster,” Murray Watt said.

Mr. Watt said the Labor government is committed to finding practical solutions to help farmers and rural communities deal with drought.

Held every two years, the Drought Forum brings together a diverse range of people and organisations to assist farmers in dealing with drought and bushfires.

About 180 representatives from the federal, state, and territory governments, as well as farming bodies, banks, charities, and conservation groups, join the three-day event, which includes site tours to farms and stations.

Management Of Drought The Key

National Farmers’ Federation Chief Executive Tony Mahar said drought is part of farmers’ lives and has never left their minds.

“If farmers aren’t in the midst of a drought, they are preparing for the one around the corner. Farmers are at the frontline of climate change and need to be equipped with the best tools as droughts become more severe and frequent.

“We’ve come a long way regarding drought management, but there’s still much left to do. This Forum plays a key role in building partnerships, finding new ideas, and driving the right policies to support farmers to keep growing food and fibre in the face of drought,” Mr. Mahar said.

Farmer Kevin Tongue stands in a dried-up dam on his drought-effected property of 'Glenwood' located on the outskirts of the town of Tamworth, north-west of Sydney in Australia, August 25, 2018. Reuters/Jill Gralow

Mr. Mahar further suggested that partnership with the community, industry, and technology sectors was important.

“Drought preparedness, management, and recovery must be a partnership between industry and the community; farmers are central to that.

“The way to address drought is to help people understand the current and forecasted environment and help them make informed decisions. Investment in technology, forecasting, and contemporary risk management strategies are part of the solution, and farmers are keen to progress these tools,” Mr. Mahar said.