Syngenta has pledged US$2bn over the next five years to developing agricultural sustainability and helping farmers prepare for and tackle the increasing threats posed by climate change.
The funding will be invested in a number of ways, including Syngenta’s goal of delivering at least two technological breakthroughs to market each year.
By aiming to reduce the agricultural industry’s contribution to climate change, Syngenta also hopes to harness the industry's mitigation capacity, and help the food system stay within planetary boundaries.
Chief executive of Syngenta, Erik Fyrwald, announced the investment in research and development for sustainable agriculture 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 Paris Agreement on climate change.
“Agriculture is now at the front line of global efforts to tackle climate change,” said 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.”
Syngenta’s commitment has been validated and endorsed by the Science Based Targets initiative (SBTi).
Understanding and implementing better land use, soil health and pest management integration are some of the areas that the US$2bn funding will focus on.
Syngenta has also begun collaborating with The Nature Conservancy to develop a strategy to identify and test new innovations and technology that can benefit farmers and contribute to positive environmental outcomes.
Chief executive of The Nature Conservancy, Sally Jewell, spoke of bold action needed from the private sector when trying to achieve conservation at such a scale.
“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. Syngenta’s investment in innovation is an important step toward a future where people and nature thrive,” said Jewell.