Growing Returns

Selected tag(s): risk

Farmers’ bottom lines at risk as growing conditions change

By / Published: April 6, 2021

Iowa currently finds itself in a “Goldilocks climate,” with just the right measure and timing of humidity, rainfall and heat that help make the state a national leader in corn and soybean production. However, new research shows that climate change threatens to upset this balance.

Small shifts in rainfall and temperature can have considerable impacts on crops and farmer livelihoods. To better understand how these shifts could impact farmers, Environmental Defense Fund partnered with K·Coe Isom, an agricultural accounting and business advisory firm, to produce an in-depth report that quantifies the potential localized economic impacts from these shifts that Iowa corn and soy farmers could face as soon as the next 10 to 20 years.

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Florida has plans to address coastal flooding, but they lack natural solutions

By / Published: October 28, 2020

Florida is home to pristine beaches, diverse and exotic wildlife, and unparalleled natural landscapes. This environment drives the state’s booming tourism industry — approximately 131 million tourists visited Florida in 2019 and the state’s beaches alone produce an estimated $50 billion in travel and tourism annually.

But flooding from sea level rise and hurricanes increasingly threatens the safety of Florida’s residents, environment and economy.

First Street Foundation estimates over 1.8 million Florida properties are at risk of flooding, with that number increasing to nearly 2.2 million by 2050. Read More »

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3 takeaways from my testimony to Congress on climate-related financial risks to U.S. agriculture

By / Bio / Twitter profile / Published: October 7, 2020

Highlight: EDF’s Maggie Monast testified at a hearing of the House Select Committee on the Climate Crisis, “Creating a Climate Resilient America: Strengthening the U.S. Financial System and Expanding Economic Opportunity.” Watch here.

It’s becoming impossible to ignore the risks that climate change poses to financial markets, including those that support U.S. agriculture.

Increased temperatures and more frequent droughts and extreme precipitation events threaten crop productivity across the nation. In 2020 alone, we have seen ample evidence of these impacts, including destructive storms in the Midwest, hurricanes along our coasts, and wildfires and smoke in the West.

These physical risks of climate change create risks to the U.S. financial system, which was the topic of last week’s hearing held by the House Select Committee on the Climate Crisis, entitled “Creating a Climate Resilient America: Strengthening the U.S. Financial System and Expanding Economic Opportunity.”

I testified to the committee on climate risks to the agriculture finance system — and opportunities to build resilience. Read More »

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3 steps for agricultural lenders to mitigate climate risk and finance resilience

By / Bio / Twitter profile / Published: September 2, 2020

Farmers in the U.S. are facing severe challenges including poor economic conditions, extreme weather and disruptions from the COVID-19 pandemic. These risks also impact farmers’ financial partners, including agricultural lenders.

While some of these risks are difficult to anticipate and plan for, there are growing opportunities and resources available for farmers and their lenders to better understand their vulnerabilities related to climate change — and take steps to build resilience.

A new report, Financing Resilient Agriculture: How Agricultural Lenders Can Reduce Climate Risk and Help Farmers Build Resilience, finds that lenders can reduce risk by supporting farmer investments in conservation practices like no-till and cover crops that are known to build climate resilience.

This report provides a path forward for lenders to support a more productive, profitable and resilient agricultural system.

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