Nestlé, a global food and beverage firm, plans to support and accelerate the transition to a regenerative food system through conservation and rehabilitation approach.
This will help protect and restore the environment and improve farmers’ livelihoods and enhance the well-being of farming communities.
The strategy would involve working with its food system partners, including the company’s network of more than 500,000 farmers and 150,000 suppliers, to advance regenerative farming practices at the heart of the food system.
A statement copied to the Ghana News Agency said as part of that journey the company would initiate new programmes to help address the socio-economic challenges of the transition.
The announcement was made in the lead up to the UN Food Systems Summit in New York as Nestlé’s contribution to help achieve the Sustainable Development Goals (SDGs) by 2030.
It also follows the recent report from the United Nations’ Intergovernmental Panel on Climate Change that shows the climate crisis is intensifying.
Mr Paul Bulcke, the Chairman of Nestlé, was quoted as saying: “We know that regenerative agriculture plays a critical role in improving soil health, restoring water cycles and increasing biodiversity for the long term.”
“These outcomes form the foundation of sustainable food production and, crucially, also contribute to achieving our ambitious climate targets.”
Nestlé is a signatory of the UN Business Ambition for 1.5°C pledge and was one of the first companies to share its detailed, time-bound climate plan in December 2020. The company is taking measures to halve its emissions by 2030 and achieve net zero by 2050.
“With our long-standing partnerships with farming communities globally, we want to increase our support for farming practices that are good for the environment and good for people,” said Mark Schneider, Nestlé Chief Executive Officer.
“In the spirit of enabling a just transition it is vital that we support farmers around the world that take on the risks and costs associated with the move towards regenerative agriculture.”
The statement said the company was investing CHF1.2 billion over the next five years to spark regenerative agriculture across its supply chain, using three primary levers to help farmers adopt regenerative practices.
It noted that Nestle was applying state-of-the-art science and technology, providing technical assistance by leveraging its vast network of Research and Development experts and agronomists to develop innovations with lower environmental impact.
The company would offer investment support to farmers through co-investing, facilitating lending or helping them obtain loans for specific equipment.
Nestlé would offer premiums for many raw materials produced using regenerative agriculture practices and buy bigger quantities, the statement said.