![Sam Brown Sam Brown](/images/transform/v1/crop/frm/33eGJqVtdkMutBjF487zmLw/dc9b1b8a-8fee-44f6-b0ae-59b97ec759a3.jpg/r0_0_4555_3037_w1200_h678_fmax.jpg)
A PROJECT worth $19 million is set to provide a better understanding of climate risk and how it impacts agriculture.
Subscribe now for unlimited access.
or signup to continue reading
Agri-Climate Outlooks is AIA's first major initiative in the climate space. It is a four-year program with the Bureau of Meteorology (the Bureau) to improve and enhance seasonal outlook services provided to Australian farmers, fishers, and foresters (growers).
The Bureau has estimated the initiative could generate up to $68 million annually in potential value for agriculture.
AIA chief executive officer, Sam Brown, said the collaboration was ground-breaking because the RDCs were working together on a large-scale project with common goals to help growers and mixed-production enterprises mitigate the impacts of climate on their enterprises.
"Climate variability is proving to have a significant and devastating impact on agricultural and food production, as we have seen with recent floods, extreme weather events and subsequent food shortages and supply chain challenges," Mr Brown said.
"Growers need the most reliable, accurate and timely seasonal forecasting information to help them manage and adapt to changing climates. This initiative will improve the relevance, trust and ease of use of climate information in their decision-making.
"AIA is passionate about taking a whole-of-sector approach to agricultural innovation and delivering value to investors - including the growers who invest in us via their RDCs."
Agri-Climate Outlooks will develop decision-specific digital forecast tools and products tailored to specific commodities. The investment also supports improvements to Australia's dedicated weather forecast modelling system.
The Bureau's General Manager, Agriculture and Water Matthew Coulton said, "this initiative will involve deep engagement across the industry to identify high-impact weather- and climate-dependent decisions growers make, and then design fit-for-purpose products and services to support those decisions.
"The investment will also contribute to improving the accuracy of the underlying forecast, which will provide benefit across all the agriculture, fisheries and forestry industries, now and into the future."