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Free Content Changes to Farm Business Management Under Extreme Weather Events: Likelihood of Effects and Opportunities in the UK

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Focus groups were held in the UK to consider the potential adaptation of farming systems to cope with climate change towards the year 2020. The findings were combined with MET office data and the results from a survey of 12000 holdings. It was found that agriculture is neither well prepared nor well informed about climate change. A list of potential adaptations was tested for financial viability using partial budgeting and discounted cash flow techniques. Whilst the impact of climate change typically had a cost implication, the benefits were often qualitative, for example enhancing animal welfare.

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Keywords: ADAPTATION; CLIMATE CHANGE; DISCOUNTED CASH FLOW; EXTREME WEATHER EVENTS; FINANCIAL VIABILITY; PARTIAL BUDGETING

Document Type: Research Article

Publication date: 2010-07-01

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