June 2019 |
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We led a ground-breaking project, supported by CSIRO, to model the impact of climate risks on farm profitability for CBA’s agribusiness portfolio. Our innovative approach combined national climate risk management tools with scientific studies on physical risk and agricultural adaptation opportunities. We applied CSIRO climate projections to map risks spatially at a granular level. We then modelled various scenarios to 2060, including acute and chronic physical risks across dairy, grains and livestock and appropriate adaptation strategies. The findings enabled CBA to explore its portfolio, assess regional impacts and inform profitability and risk assessments over time across Australia. This project identified the critical importance of adaptation measures to maintain farming resilience and profitability as the climate changes. CBA gained climate insight, tailored its agribusiness risk management approach and service offerings. The bank is continuing to build capacity across agribusiness teams to drive climate resilience in conversations with customers. |
