A recently released GAO report says climate change could make the crop insurance program more vulnerable to potential losses. Nebraska Farmers Union President John Hansen says this report is another example of why climate change needs to be addressed and taken seriously by both ag and non ag interests alike.
The GAO report also shows that both the Risk Management Agency and FEMA showed an increase of 8 percent in potential losses for insured property between 2007 and 2013. Hansen says there’s no doubt those impacts are still being felt.
Hansen says agriculture is in a good position to help battle the negative effects of climate change by storing and utilizing carbon credits.
The GAO report also indicated that climate change may substantially increase losses by 2040 and increase losses from about 50 to 100 percent by 2100.