In a press release issued yesterday, Syngenta announced $2 billion will be spent over the next five years to help farmers prepare for and tackle the increasing threats posed by climate change.
The investment supports a new Syngenta sustainability goal of delivering at least two technological breakthroughs to market each year, to reduce agricultureâ€™s contribution to climate change, harness its mitigation capacity, and help the food system stay within planetary boundaries.
Erik Fyrwald, Chief Executive Officer at Syngenta also announced that the investment in research and development for sustainable agriculture will be matched by a drive to reduce the carbon intensity of the companyâ€™s operations by at least 50% by 2030 to support the ambitious goals of the Paris Agreement on climate change. Syngentaâ€™s commitment has been validated and endorsed by the Science Based Targets initiative (SBTi).
â€œAgriculture is now at the front line of global efforts to tackle climate change,â€ said Mr Fyrwald. â€œSyngenta is committed to accelerating our innovation to find better and ever safer solutions to address the shared challenge of climate change and biodiversity loss.â€
â€œThese arenâ€™t just words, this is real action that will drive focus in Syngenta to help farmers tackle climate change and reduce the sectorâ€™s contribution to the worldâ€™s greenhouse gas emissions.â€
The $2 billion will be directed towards programs withÂ clearly differentiated benefits or breakthrough technologiesthat will enable a step change in agricultural sustainability, such as land use, soil health and integrated pest management.