Nestle, a global food and beverage company, has announced plans to invest N535 billion in regenerative agriculture food systems.
The Chairman Of Nestle, Paul Bulcke, in a statement issued after participating in the summit, said that the food company will be investing 1.2 billion in Swiss Francs (N535 billion) over the next five years.
Regenerative agriculture refers to agricultural practices that aims to conserve and restore soil organic matter by regenerating the soil to improve its fertility
According to him, this investment will spark regenerative agriculture across the company’s supply chain, using three primary levers to help farmers adopt regenerative practices.
Nestle said it would leverage state-of-the-art science and technology, provide technical assistance, offer investment support and pay premiums for regenerative agricultural goods.
The statement hinted that the transition to a regenerative food system aims to protect and restore the environment, improve the livelihoods of farmers and enhance the well-being of farming communities.
The statement read, “Nestlé will work 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.
“As part of this journey, the company will also initiate new programs to help address the social and economic challenges of the transition,” it added.
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Explaining further, the company noted that the step was taken as part of Nestlé’s contribution to help achieve the Sustainable Development Goals (SDGs) by 2030 as well as follow the recent report from the United Nations’ Intergovernmental Panel on Climate Change that shows the climate crisis is intensifying.
Bulcke added, “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.”
Also commenting, Nestle’s Chief Executive Officer, Mark Schneider, said, “Today, Nestlé published the most important regenerative farming practices that the company wants to promote. They include, among others, enhancement of biodiversity, soil conservation, regeneration of water cycles and integration of livestock.
“Agriculture accounts for nearly two-thirds of Nestlé’s total greenhouse gas emissions, with dairy and livestock making up about half of that. Nestlé is assessing cutting-edge science and technology to reduce emissions at farm level,” he said.
