IRRIGATION & AGRICULTURE THE SYNERGY BETWEEN WATER & FOOD SECURITY 24 MARCH 2015 ALISTER WALSH - WATERFIND CEO
“About one third of all Australian women live in rural or remote areas and they are the backbone of rural and remote families and communities.” KATE ELLIS, MP
PRESENTATION TOPICS • What is water trading? • What is affecting food security? − Droughts & Floods − Water Management • Water markets innovation • What does the future hold?
WHAT IS WATER TRADING?
WHAT IS WATER TRADING? FUNDAMENTAL REQUIREMENTS • Cap on extraction • Unbundling of title between water and land • Unbundling of elements of water • Structure and regulation • Water sharing plan/ rules around allocation • Clarity of rules that facilitate the transfer of permanent and temporary water rights between water licence holders. • Way for irrigators to interact and transfer rights/ trade
AUSTRALIA’S IMPROVING WATER MANAGEMENT DEVELOPING WATER MARKETS FARMER FARMER INTERMEDIARY WATER EXCHANGE FARMERS FARMERS BENEFITS • • Transparency Access to a greater volume of water parcels • • Legal Structured Contracts Experienced team acting on your behalf • • Equal Information = working market Conveyancing to complete all paperwork
AUSTRALIA’S IMPROVING WATER MANAGEMENT DEVELOPING WATER MARKETS
HOW WATER RESOURCES ARE SHARED
AUSTRALIA’S IMPROVING WATER MANAGEMENT DEVELOPING WATER MARKETS
HOW WATER RESOURCES ARE SHARED
HOW WATER RESOURCES ARE SHARED
AUSTRALIA’S IMPROVING WATER MANAGEMENT Lake Eildon - Australia 2008 Lake Eildon
AUSTRALIA’S IMPROVING WATER MANAGEMENT DEVELOPING WATER MARKETS
2012 Lake Eildon
2014 California
2014 California
WHAT IS AFFECTING FOOD SECURITY? DROUGHTS & FLOODS The OECD forecasts that by 2050, 40% of the world’s population will live in a stressed water basin .
WHAT IS AFFECTING FOOD SECURITY? DROUGHTS & FLOODS
FOOD SECURITY CHALLENGES EXISTING & EMERGING • Vulnerability to climate change and climate variability • Increasing land degradation and soil fertility decline • Increasing reliance on imports of food and food production inputs • Poor nutritional intake • Improving water management
AUSTRALIA AND GLOBAL FOOD SECURITY Overview of Australia’s key strengths to building food security • Australian agriculture has maintained its leading position by producing food on the driest inhabited continent, on low quality soils and in the face of continual climate variability • Strong capability in climate change research including studies on impacts, adaptation and mitigation • Strong agricultural R&D capabilities • Innovative methods of water management
WHAT ELSE IS IMPACTING FOOD SECURITY? CASE STUDY Southern Murray Darling – Drought Impact • Allocations were as low as 18% of their nominal entitlement at which time temporary water peaked at record prices • River banks were slumping • Native fish faced extinction • The Coorong was 5 times saltier than the sea • Contingency plans were made to supply bottled water to Adelaide and other communities
AUSTRALIA’S IMPROVING WATER MANAGEMENT DEVELOPING WATER MARKETS
WATERFIND’S WATER MANAGEMENT INNOVATION PIONEERING THE ONLINE WATER MARKETS WATER LICENCE ALLOCATIONS COMPLIANCE WATER NEEDS WATER MARKETS Stipulates how much Government Government Water users Water markets water can be taken appointed Water appointed Water identify specific facilitate the trading out of a river system Authorities allocate Authorities provide volumes of water of water between two and is often aligned the volume of water specific trading rules that they required parties. Waterfind with a property. that can be taken that govern licence for the irrigation provides the most from a river system in relation to their season. extensive water as a percentage. licences. market in Australia.
AUSTRALIA’S IMPROVING WATER MANAGEMENT DEVELOPING WATER MARKETS ACCESSIBILITY Access the market anytime, anywhere, on any web enabled mobile device LIVE MARKET Trade online instantly MARKET INFO Make informed decisions based on free, relevant & timely market data
KEY WATER MARKET OBSERVATIONS Temporary Contracted Trades Pricing From 1/ 7/ 2013 – 31/ 3/ 2015
“Australia did something which no other country could conceivably have managed – in a large irrigated agricultural economy a 70% reduction in water availability had very little aggregate economic impact. This extraordinary achievement is, in my view, the single most important water fact of the 21st century, because it shows that it is possible (with ingenuity and investment) to adapt to rapid climate change and associated water scarcity .” PROFESSOR JOHN BRISCOE, HARVARD UNIVERSITY
QUESTIONS ALISTER WALSH T 0448 890 426 E alister.walsh@waterfind.com.au T @Waterfind Freecall 1800 890 295
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