Rising Ocean Temperatures Endanger Australia's Billion-Dollar Salmon Sector
A new university report warns that even a 1 °C rise in sea temperature could jeopardize Tasmania's salmon industry, putting tens of millions of dollars at risk.
The University of Technology Sydney's Institute for Sustainable Futures published a 41-page report titled Swimming Against the Tide, examining climate risks to Australia's salmon industry. It highlights that ocean temperatures off southern Australia are up to 3 °C above average, with strong El Niño conditions expected to continue. Analyzing financial statements from Tassal, Huon and Petuna, the study found the firms have not adequately disclosed the cost of increased fish mortality or adaptation measures.
Tassal alone estimates that a 1 °C warming could lift salmon deaths from 15 to 18.5 per 100 fish, costing about $23.7 million per year. Researchers say the sector, worth over $1.36 billion in 2022-23, faces an existential threat unless companies adopt transparent reporting and clear transition strategies. Marine biologist Leonardo Guida called for detailed risk reporting to help workers, investors and communities plan for future impacts.
Why it matters
The findings show climate change could severely cut profits and jobs in a major Australian industry.
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