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Sustainable Markets Initiative launch its new Agribusiness Task Force
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Tuesday, 21 June, 2022, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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The Sustainable Markets Initiative has launched its new Agribusiness Task Force, bringing together CEOs and subject matter experts from global food and agriculture, designed to accelerate regenerative agriculture into becoming the predominant agricultural system in the world.
Despite clear long term benefits, the rate of farmers adopting regenerative agriculture is too slow to make a significant difference to climate change and biodiversity loss in the near future. Regenerative agriculture is currently practiced on approximately 15% of cropland and is being adopted at a rate of 0.6% hectares per year.
The SMI Agribusiness Task Force aims to uncover what actions are needed from each part of the value chain to make regenerative agriculture a no-brainer business decision for farmers. Together, the Members are united by a common ambition to harness the unique capabilities and influence of the task force to enable regenerative agriculture to become mainstream, by encouraging and supporting farmers to change the way they farm.
The new Task Force, chaired by Grant F. Reid, CEO of Mars, Incorporated, is comprised of executives from many of the world’s largest and most influential agribusiness companies and organisations. Together, the Task Force’s membership has committed to creating a scalable value chain blueprint, from which they can transfer learnings from different crops more widely.
Wheat, potatoes and rice will be the first strategic food crops to be examined by the Task Force, with these crops and geographies (US, UK and India respectively) being identified based on the environmental impact of their production, the Task Force’s sourcing footprint and influence, the transferability of learnings to other crops and geographies, and the ease of establishing a route to engage farmers.
Reid said, “Regenerative agriculture has clear long-term benefits including helping address the challenges of climate change. Yet the rate of adoption is too slow. Our aim is to help identify ways to overcome the systemic barriers and accelerate the transition to regenerative farming and unlock these benefits. This is at the very heart of our ambition for the SMI Agribusiness Task Force. We’re confident that the convening power of HRH The Prince of Wales’s SMI and the collective brainpower, creativity, pre-competitive collaboration and knowledge sharing of the Task Force’s participants, will help identify ways to accelerate the adoption to regenerative agricultural systems.”
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