CSIRO confident on Australia's outlook, says technology is key [Video]

Australia is positioned to secure prosperity over the coming decades despite a possible resource constrained future, according to the first Australian National Outlook.

A report released by CSIRO states that energy and other resources could remain a pillar of the country’s economy, even in the midst of a global action to significantly limit greenhouse gas emissions. The key to this success will be innovation and application of smart technologies, CSIRO Executive Director Dr Alex Wonhas said.

This is one of the notable insights included in the report, which CSIRO considers the most comprehensive quantitative analysis of the interactions between economic growth, water-energy-food use, environmental outcomes and living standards in the country. It explores over 20 possible futures for Australia to 2050 against the backdrop of the past 40 years.

The Australian National Outlook is the first attempt to understand and analyse the connections in Australia’s physical environment many decades into the future, Wonhas said. It found potential opportunities across Australia’s "physical economy" that contributes to about 75 percent of natural resource use and produces about 25 percent of the country’s GDP.

“For example, we find strong growth prospects for Australia’s agri-food production, which are forecast to increase at least 50 percent by 2050, provided long term productivity improvements can be maintained in line with historical rates,” Wonhas said.

He added that farmers are also possibly poised to benefit from the potential growth in agri-food exports and new income sources for rural landholders through carbon farming on less productive land.

The report also found that Australia’s water demand increases as population grows, supporting projections that water use will double in the coming years. However, the country could meet this growth as well as enhance urban water security and avoid increased environmental pressures through increased water recycling, desalination and integrated catchment management, Wonhas said.

The Australian National Outlook, which draws extensively on observed data and analysis, is a result of the work of a team of 40 CSIRO experts and university collaborators. According to CSIRO, it utilises a world-class suite of nine linked models, includes input from more than 80 experts and stakeholders from over 10 organisations and has undergone rigorous international peer review.

In integrating global perspectives into a uniquely Australian context, the report seeks to help in the consideration of plausible technological and policy settings to secure the nation’s future prosperity.

“We hope the National Outlook will help Australia chart its future in an increasingly complex and interconnected world,” Wonhas said.