Farmers for Climate Action notes Deloitte has measured the cost of the deadly, climate-driven Queensland floods at $7.7 billion.
Farmers for Climate Action CEO Dr Fiona Davis said the cost of climate damage continued to mount in Australia with the farmers who grow our food being hurt.
“Climate damage costs money hurts Australians and Australian farmers,” Dr Davis said.
“Deloitte has found some 500,000 Australians were hurt by this latest climate-driven flood and it cost the state $7.7 billion. More than 2250 farmers sustained climate damage in this flood and their losses total more than $250 million.
“The farmers who grow our food can’t just keep taking repeat climate damage every year because they eventually run out of savings. We need deep emissions reductions this decade to protect farmers and allow them to continue to feed Australia and the world.”
Also today, Dr Davis noted NAB Chair Phil Chronican has pointed out the enormous opportunities strong climate policy can bring to Australia, speaking of a green lending boom. Mr Chronican is quoted as saying of a shift to a low emissions economy: “If we get it right the opportunities are immense.” NAB CEO Ross McEwen is also quoted as saying: “There’s a real opportunity here.”
Dr Davis said farmers and regional Australia wanted to seize the opportunities strong climate policy presents. “Thousands of jobs in constructing and operating new sustainable energy will be created in regional Australia,” Dr Davis said.
“This is one of the few opportunities to create a nationwide regional jobs boom we’ve seen in recent decades. The opportunity to create extra carbon income for farmers to complement their existing farming is also rare and offers a drought resilient and diversified income stream.
“Let’s not miss these opportunities,” Dr Davis concluded.