Project: 2019 Annual Report - climate impacts on the agricultural sector to 2060
Date: July 2019
CBA engaged Energetics to undertake a forward-looking scenario analysis of climate-related factors that could potentially impact Australia's grains, livestock and dairy sectors. We simulated agricultural productivity under several climate change scenarios to assess the impacts out to 2060, to help CBA better understand potential longer-term risks, and contribute to building resilience in the sector, for example, by supporting investment in adaptation and innovation.
Impacts were assessed on a ‘do nothing’ and ‘adapt’ basis to understand the extent to which the impacts of climate change may be mitigated. The analysis also considered economic impacts, as adaptation requires both investment and the willingness to change established farming practices.