A U.S. national weather analysis has confirmed a fact that is all too obvious to many people sweltering through this stifling summer.  Thus far, 2010 is the world’s hottest year on record, taking over the top spot from 1998.

Abnormally high temperatures have been recorded in Canada, Africa, tropical oceans and regions of the Middle East, with nations such as Britain, Thailand and Israel suffering severe droughts.

A La Nina weather pattern expected later this year could bring cooler weather globally, however it often translates into hotter and drier weather in the U.S. Midwestern farm belt, which could be detrimental to corn and soy bean crops.

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Norway and Indonesia have signed a $1 billion agreement designed to curb rapid deforestation in vulnerable forests and peatlands.  In return for Norway’s significant investment, Indonesia will impose a 2 year moratorium on all new concessions of peat and natural forest lands for clearing.

Part of Norway’s $1 billion investment will go towards creating and monitoring new projects under the U.N.-baked forest conservation scheme, called Reduced Emissions from Deforestation and Degradation (REDD).  The Indonesia-based Center for International Forestry Research said this new deal could be “a game-changer in the drive to make REDD a reality.”

Norway and Indonesia’s landmark deal was supported by another notable investor – billionaire George Soros.  In advance of the deal-signing, Soros said he would personally guarantee $50 million to help slow global deforestation, which he believes is of the utmost importance in the struggle to reduce emissions.  ”If you can stop the eradication of the forest before it happens, its much easier than to reclaim the degraded land.  That is why I think quick action is so important.”

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Deforestation is a worldwide problem which contributes mightily to global greenhouse emissions.  It is estimated that one-fifth of all carbon dioxide emissions result from chopping down forestland, especially in tropical zones.

Land preservationists and climate change advocates want to end this environmentally harmful practice, saying doing so will benefit not only the atmosphere, but the U.S. farming economy.

A recent study by the National Farmers Union and Avoided Deforestation Partners estimates if global deforestation were stopped, the U.S. agricultural sector could boost its revenues from $190 billion to $270 billion through 2030.

U.S. crops  have long been undercut by unfairly cheap commodities harvested on “slash-and-burn” cleared land.  Stemming this practice would slow the spread of these artificially cheap commodities into the global marketplace.  The report says U.S. timber, soybean, oilseed and beef industries stand to enjoy particular gains.

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Population expansion is putting severe strain on the world’s food resources.

According to Joachin von Braun, the former director general of the International Food Policy Research Institute (IFPRI), global population is predicted to reach over 9 billion people by 2050, up from today’s current total of 6.3 billion.  To keep up with the resulting increased demand, agricultural production worldwide will need to grow by 70% above today’s levels.

However, investment in agricultural research has declined over the past decades, making it more difficult to solve this looming production problem.  The unpredictable effects of climate change will likely also complicate global efforts.  ”We have realized the problem of food security is not only a technical, economic, ethical problem.  It’s a problem of peace and security in the world,” remarked von Braun, who urged for increased subsidies for under-privileged farmers in vulnerable countries, and more funding for agricultural research.

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Robert Watson, chief scientist of the British farm ministry, urged international climate delegates to “recognize the critical role of agriculture in both climate change mitigation and adaptation.”

It is estimated that nearly 30% of global greenhouse gas emissions come from deforestation and agricultural practices.  As global population continues to grow, the United Nations Food and Agriculture Organization estimates that food production levels will need to increase by 70% by 2050.

Watson and other food scientists fear that agriculture will not be made as high a priority as it should be at the Copenhagen talks, as delegates are largely focused on the energy production and power sectors.    With the use of new technology, Watson says food production and security can be improved while simultaneously cutting emissions.

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Carbon Sequestration Initiatives could Benefit Agricultural Sector

Climate change could be a “major development opportunity” for agricultural carbon sequestration in Africa, said managing director of the World Bank Ngozi Okonjo-Iweala in a lecture at the London School of Economics.  As global emission rise, using plant life to absorb and store CO2 is likely to become an important and commonly used mitigating strategy, she said.  By 2030, the U.N. estimates that 5.5-6 gigatons of CO2 could be stored via agricultural sequestration, with approximately 89% being stored in the soil.  If such strategies are incorporated into international carbon treaties, “agricultural carbon sequestration could generate annual revenues of close to $1.5 billion” for Africa, remarked Okonjo-Iweala.  However, despite these new economic opportunities, Africa is still very vulnerable to the effects of climate change.  Rising temperatures could bring increased instances of both drought and flooding, spelling trouble for the African agricultural industry, which employs about 70% of the Continent’s population.