Chinese-owned Syngenta will contribute $2 billion over the next five years to create innovations specifically targeted to address climate change. The company says its goal is to deliver at least two technological breakthroughs to the market each year.
This announcement is in addition to Syngenta’s earlier pledge to reduce the carbon intensity of the company by at least 50% by 2030 to support the goals of the Paris Agreement.
“Agriculture is now at the front line of global efforts to tackle climate change,” Erik Frywald, Syngenta CEO said in a recent press release. “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.”
The $2 billion investment will go toward products, services, programs, partnerships and capital expenditures with differentiated benefit or breakthrough technologies that enable a step change in ag sustainability including: land use, soil health and integrated pest management.
Partnering for a solution
Syngenta is working with The Nature Conservancy through a multi-year collaboration to identify and test new innovations and technology. The company says these products need to benefit farmers while still contributing to positive environmental outcomes. The collaboration aims to promote soil health, resource efficiency and habitat protection globally.
“Achieving conservation at scale will require bold action from the private sector,” Sally Jewell, CEO of the Nature Conservancy said in a news release. “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.”
This announcement is part of the Syngenta’s Accelerating Innovation commitment, which addresses increased challenges faced by farmers because of climate change, soil erosion and biodiversity loss, and progress in the initiatives will be reported annually and independently audited.