Achieving the minimal Paris Agreement target, and the impact of climate change on farmland prices in Australia

Tom Kompas, Professor Environmental Economics & Biosecurity, School of Agriculture, Food and Ecosystem Sciences, University of Melbourne.

Tom’s research specialises in large-dimensional economic modelling for trade and climate change, cost-benefit analysis and natural resource and environmental economics. Tom will speak on economic damages from climate change and the likelihood of meeting emissions reductions targets. Using a large dimensional and unique Global Trade Analysis Project (GTAP) model for energy and trade Tom and his collaborators calculated the needed change in the energy mix and fall in carbon emissions to meet a minimal Paris Agreement target and path of less than 2°C warming. Model results indicate a net-zero outcome even with carbon sequestration occurring no earlier than 2058.

Daniel Melser, Senior Research Fellow, Econometrics and Business Statistics, Monash Business School, Monash University

Daniel’s research interests include climate risk, housing and real estate, urban and regional studies, credit risk modelling, economic measurement and index numbers. Daniel will speak on the impact of climate change on farmland prices in Australia. Findings indicate that prices fell by around 7% from 1980 to 2020 because of climate change. Further declines in farmland prices, of between 15% and 34% depending on the climate scenario, are anticipated out to 2100. Some regions will be hit much harder while others are projected to record modest benefits.