The Economic Impact of Australia’s Drought

The current drought in Australia has hit as the worst drought on record. It is comparable only to the Federation Drought which occurred at the turn of the last century. This drought has had a major impact not only on the environment but on society as well as the economy.

In the 2030 Sustainable Development Agenda, the goals and targets both touch on extreme weather events, possibly brought about due to climate change. The need for action to be taken on these conditions is vital to ensure the sustainability of our economy, of the people and of our planet.

There is an urgent need to take environmental action in our lives, in the work of government and in businesses around the world. We need to ensure that we are not contributing to the extinction of flora and fauna and the pollution of our soil, water and air, especially the dumping of plastics and non-degradable resources in our natural environment.

For a developed country like Australia, many would assume that water security would not be an issue; however, we are facing a surprisingly severe crisis at the moment with some towns needing to have water trucked in and emergency pipelines being built.

For this current drought, there is not a lot of action we can now take to mitigate the current issue; however, we are able to ensure we take small…