Part 2/5:
Steel warned that failure to meet enhanced emissions targets could result in a staggering $6.8 trillion loss in GDP by 2050. This economic downturn would be driven by the increasing frequency and severity of mega droughts across the continent. Such droughts threaten to devastate agricultural productivity, making the growth of fruits and vegetables—a staple of both local consumption and export—an infrequent occurrence, limited to once a year or less.
The implications go beyond mere economics, touching on the very fabric of Australian life and the global climate landscape. The potential for prolonged droughts could lead to water shortages, ecological collapse, and heightened climate-related disasters, exacerbating worldwide environmental instability.