Report says hundreds of billions of dollars and millions of work hours in productivity are at risk due to hotter conditions
Success in limiting global warming will spare Australia a sharp fall in economic activity but would see coal exports fall to a trickle by 2063 under a low-emissions scenario, according to the government’s intergenerational report.
“In the absence of adaptation measures Australian crop yields could be up to 4% lower by 2063 in a scenario where global mitigation does not keep temperature increases below 3C this century,” it said, adding yield reductions could be largely avoided if temperatures rises were kept below 2C. The first IGR, released by then treasurer Peter Costello two decades ago, made just two references to climate change. Subsequent reports have increased their attention to the impacts of a warming world, but made little effort to model them.
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