Trends and looking ahead
- Climate change
There is mounting evidence that climate change is happening in Australia today. With just a 1 or 2°C increase in the average global temperature, Australia will need to deal with:
- Shifting rainfall patters that reduce runoff to rivers and recharge of water supplies
- Increasing agricultural and other economic losses from disasters
- More damage to homes, business and infrastructure caused by extreme weather
- Increasing and new threats to the health of Australians
- Irreversible change to some natural ecosystems
Climate change affects the economy as well as the environment and presents current and future risks and opportunities for businesses as markets adjust to deal with these changes.
One major industry that is seeing the impact of more extreme weather conditions is agriculture. Without water and with a changing climate, many agricultural producers struggle to survive and are forced to devise innovative solutions to adapt their crops. Under these conditions, relationships both up and down the supply chain become even more critical - as businesses work together to discover greater business efficiencies and optimise their product life cycle.
Another significant example is the burning of fossil fuels as a key energy source for many large-scale industries such as electricity suppliers and the petro-chemical industry. Many organisations are acknowledging that these activities are not sustainable and actively investigating alternate energy sources.
The potential introduction of emissions trading schemes is also acting as a catalyst for change.
Australia Vulnerable to Climate Change: New Report
Climate change: Solutions for Australia
Corporate green
Investor Pressure Drives Ford Motor Co. to Prepare Climate Risk Report
Confront climate change, urges BP chief
Renewed call for carbon trading
