REACHING net-zero emissions could score Australian farmers an extra $43B in take home income for themselves, a report has found.
These findings, released by Farmers for Climate Action (FCA), reveal that agriculture industries can reach net-zero without reducing herd sizes, so long as the right support and investments are established to meet the growing demand for climate action.
The agricultural sector contributed around 15 percent of Australia’s greenhouse gas emissions last year.
Taking a conservative approach to emissions reduction will see agricultural industries reach the net-zero goal by 2040, so long as global warming is limited to 1.5-2C.
“Much of what needs to be happening – planting trees and ground cover on non-productive land and within productive systems, adopting best practice grazing management – is already underway. We just need to scale it up,” said FCA chief executive, Fiona Davis.
Greater investment and popular uptake would see environmental goals met even sooner, while creating additional income and jobs within the sector.
Inaction, however, will cost our environment and our economy. Loss of agricultural production due to climate events is estimated to cost $5B annually, while Europe’s plan to implement carbon tariffs may threaten the prosperity of Australia’s ag exports.
