Reducing Greenhouse Gases From Cows And Sheep

REDUCING GREENHOUSE GASES FROM COWS AND SHEEP
Dilan Dharmapriya
N10217509
Stewart Sinclair


Queensland University of Technology

Economics

The Meat and Livestock industry in Australia accounts for a 45% of the gross value of Australian agricultural output (AFI, 2015), with the cattle and sheep industry alone, contributing $16.95 billion into the nation's economy each year (MLA, 2016). The human population is expected to grow 15% by 2050, causing the global demand for meat to rise by approximately 73%. This will require an additional 160 million tonnes of meat to be produced each year, demanding an increase in livestock production (Heffernan, 2017). The average Australian cow, ...

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a more sustainable industry by taking a proactive approach to reducing their sectors carbon emissions. The following economic analysis of the issue has been framed around a Conversation article which emphasizes the negative effects of livestock on our atmosphere (Herrero, 2016).

The meat and livestock industry accounts for approximately 10.2% of total emissions in Australia (DOA, 2013). A breakdown of Australia's agricultural emissions can be seen in Figure 1 below, indicating that approximately 66% of Australia's agricultural greenhouse gas emissions came directly from livestock industries. On the global scale, livestock production makes up approximately 18% of emissions as depicted in Figure 2 below (Henry, 2009).

Figure 2 - Global GHG Emissions (LEAD, 2010)

Figure 1 - Australia's Agricultural GHG Emissions (DAF, 2018)

As seen in the data above, livestock production is one of the biggest contributors to Greenhouse Gas emissions both domestically and globally, which ...

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where Q1 goods are produced and are consumed at price P1, however, although consumers may feel that they are benefitting from the lower price of the good, society is actually undergoing indirect costs that are much greater than the social benefit of the good in the form of environmental externalities. When a market is undergoing negative externalities, the most efficient strategy would be to operate at E2, which is the true social optimum, where Q2 goods are produced and are consumed at the higher price P2 (Wallis, 2016). These negative externalities are creating a deadweight loss in the market which can be seen by the grey triangle in figure 4. This further highlights the inefficiency ...

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PAPER DETAILS
Added: 8/19/2018 05:09:44 AM
Submitted By: diland123
Category: Environment
Type: Premium Paper
Words: 1533
Pages: 6

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