Research indicates that U.S. agriculture faces a productivity slowdown due to climate change, necessitating a 5% to 8% annual increase in research investment. A total investment of $208 billion to $434 billion by 2050 is suggested to counteract these challenges, stressing the importance of public R&D.
Recent research highlights the urgent need for increased investment in agricultural research to counteract the productivity slowdown in U.S. agriculture, linked to climate change. The study, published in the Proceedings of the National Academy of Sciences, indicates that a 5% to 8% annual growth in research investment is essential, mirroring historic funding levels following the world wars. Alternatively, an additional annual funding of $2.2 billion to $3.8 billion is recommended to combat the effects of climate change sufficiently.
Lead researcher Ariel Ortiz-Bobea, an associate professor at Cornell University, emphasized the critical role of public sector R&D in agricultural productivity. He noted that enhancements in research would take time, thereby necessitating immediate action. “We can do this, but the time is now,” he stated, underscoring the need for timely investments to prevent declining productivity.
The researchers employed five decades of data to assess the impacts of climate change on agriculture, revealing that a temperature rise of 3 degrees Celsius could decrease productivity by over 10%. They also calculated the positive contributions of R&D to agricultural yields, advocating for a robust investment strategy to maintain productivity.
Currently, U.S. public sector investment in agriculture research remains stagnant at around $5 billion, demonstrating minimal annual growth since 1970. Ortiz-Bobea advocates for consistent annual increases in investment, proposing a total funding range of $208 billion to $434 billion by 2050.
Moreover, he cautioned against the consequences of underinvestment, such as reliance on external markets and environmental degradation. He stated, “It is a fork in the road where we need to decide what kind of ag sector we want.”
The research highlights the distinct advantages of public R&D, as it offers affordable access to innovations that private sector technologies may not provide. This ensures that developments target social returns and farmer benefits rather than solely focusing on profit. The need for urgent action on agricultural R&D and its implications for future productivity remains clear, echoing a willingness to address the challenges posed by climate change in U.S. agriculture.
In summary, the study underscores the pressing need for significant increases in public agricultural research investment to mitigate productivity declines due to climate change. A consistent annual growth of 5% to 8% or an additional $2.2 billion to $3.8 billion per year is necessary to safeguard the sector’s future. Recognizing the distinct roles of public versus private sector R&D, the researchers emphasize a strategic investment to ensure long-term agricultural productivity and sustainability in the face of climate challenges.
Original Source: www.technologynetworks.com
