Climate-friendly farming, or “regenerative agriculture,” was a big part of the discussion at this year’s World Economic Forum in Davos, Switzerland. And it’s raising questions about how to overcome financial and cultural challenges and ensure soil health, according to Bloomberg.
What’s going on: If you ask Cargill CEO David MacLennan and others, farmers took center stage at the 2022 WEF.
- “I’ve been attending Davos for many years, and I think never before has there been as great an appreciation of the importance of the farmer in the food supply chain,” he said during a panel discussion at the forum.
- Inflation, sustainability issues and the war in Ukraine have led to growing appreciation of “agricultural commodity supplies” and the farmers who supply them, MacLennan said.
Why it matters: “‘Your soil is an asset,’ like money or farm equipment, MacLennan said, noting its ability to trap carbon in addition to producing food. ‘How do we use it as an asset and think of it just like we think of a financial asset?’”
- Farmers need a “safety net” that will allow them to shift to the planting of different crops, MacLennan said.
- But the Cargill CEO also told the global power group that he believes “younger consumers will pay for food that is traceable and transparent on its origins.”
What we’re saying: “Promoting smart land use that achieves real, additional, verifiable, permanent and effective emissions reductions is a key element to tackling climate change,” said NAM Vice President of Energy and Resources Policy Rachel Jones.
- “Manufacturers have been inseparable partners with farmers for generations—from making seeds to fertilizers and from building tractors to smart irrigation systems.”
- “It’s going to take all of us working together to achieve a truly sustainable planet and build inclusive communities.”