Over the next five years, Syngenta will spend $2 billion to help farmers not only prepare for, but also tackle the threats posed by climate change.
The announcement was made by the company’s CEO, Erik Fyrwald, who also announced the money will be matched by a drive to reduce the carbon intensity of the company’s operations by at least 50 per cent by 2030 to support the ambitious goals of the Paris Agreement on climate change.
“Agriculture is now at the front line of global efforts to tackle climate change,” says Fyrwald. “Syngenta is committed to accelerating our innovation to find better and ever safer solutions to address the shared challenge of climate change and biodiversity loss. These aren’t just words, this is real action that will drive focus in Syngenta to help farmers tackle climate change and reduce the sector’s contribution to the world’s greenhouse gas emissions.”
The company has introduced a new sustainability goal of delivering at least two technological breakthroughs to market each year, to reduce agriculture’s contribution to climate change, harness its mitigation capacity, and help the food system stay within planetary boundaries.
The company has partnered with The Nature Conservancy to develop strategies to identify and test new innovations and technology that can benefit farmers and contribute to positive environmental outcomes.
“Achieving conservation at scale will require bold action from the private sector. As businesses increasingly recognize the risks of climate change and the benefits of sustainability, we welcome the opportunity to contribute our science and expertise to help transform business practices,” says Sally Jewell, CEO of The Nature Conservancy.
Progress against the various targets each year will be reported annually and independently audited.