Rising Global Temperatures Increase Food Security Costs

Economics & Macro

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Adi Ahdiat 22/11/2023 17:30 WIB

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According to a Japanese research team, if the Earth's temperature rises by 1.5 degrees Celsius, the global cost of food security will reach US$63 billion per year.

Estimated Additional Costs for Maintaining Food Security Amidst Global Warming

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Estimated Additional Costs for Maintaining Food Security Amidst Global Warming

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Global warming can reduce soil moisture and trigger droughts. As a result, agricultural production could decrease, threatening food security.

This scenario is recorded in the research report *Climate Change 2023: Synthesis Report* from the Intergovernmental Panel on Climate Change (IPCC).

According to the report *Climate Change Adaptation Cost and Residual Damage to Global Crop Production* (July 2020), the cost of food security amidst global warming is substantial.

The research estimates that if the average global temperature rises by 1.5 degrees Celsius (°C) compared to the pre-industrial era (1850-1900), the additional cost of maintaining global food security will reach US$63 billion or approximately Rp983 trillion per year (assuming an exchange rate of Rp15,612 per US$).

This figure includes adaptation costs and residual damage to agriculture.

Adaptation costs are the additional expenditure required by the agricultural sector to achieve its harvest targets amidst climate change.

Residual damage is the loss incurred by the agricultural sector when adaptation costs are no longer able to increase yields due to biological limitations of crops.

The cost of maintaining food security is also predicted to become more expensive if global warming worsens.

It is estimated that if the average global temperature rises by 2 °C, the cost will reach US$80 billion or approximately Rp1,248 trillion per year.

If the average global temperature rises by 3 °C, the cost will swell to US$128 billion or approximately Rp1,998 trillion per year.

"Many developing countries lack the financial resources for adaptation to reduce economic and non-economic losses (due to climate change)," wrote the IPCC in its report.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Rising Global Temperatures Increase Food Security Costs

Rising Global Temperatures Increase Food Security Costs

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