Against a backdrop of increasingly severe and costly climate events and natural disasters, technology is poised to play an important role in maintaining and improving global agricultural output. The adoption of digital and precision farming practices has been shown to improve crop resiliency and boost productivity and incomes, particularly in emerging markets where small-scale farmers are often more vulnerable to climatic impacts. With increasing support from international aid agencies, as well as the public and private sectors, precision farming should help emerging market economies maintain production through the use of mobile apps, automation, and precision farming techniques and projects – already successfully deployed in some countries despite the increased incidence of climate events.
However, there is also the growing recognition that solutions aimed at reducing deforestation and improving water resource management play a critical role in boosting global agriculture’s climate resiliency, as evidenced by several recent international- and national-level policies aimed at the deployment of sustainable strategies hoping to mitigate the effects of weather events and climate change.
Cost of Climate Change
Drought, rising temperatures and extreme weather events continue to cause economic shocks around the world. In March 2018 the World Meteorological Organisation (WMO) and Munich RE reported that 2017 was the second-costliest year on record for severe weather and climate events, with monsoon floods in Asia, severe drought in East Africa and the North Atlantic hurricane season estimated to have caused $320bn in loss and damage. The year with the highest loss was 2011 at $350bn due to the Tohoku earthquake.
Read the full Global Perspective in The Report: Philippines 2018