February 06, 2024 | World Economic Forum |
The World Economic Forum has proposed five crucial steps to enhance sustainable food production, emphasizing the necessity of increased financial support for farmers. In their report, "100 Million Farmers: Breakthrough Models for Financing a Sustainability Transition," it's estimated that $300 billion to $350 billion annually is required by 2030 to achieve sustainability in the global food system. Regenerative agriculture, which enhances soil health, reduces water usage, and boosts biodiversity, is highlighted as a key approach. The steps include developing innovative financing models, engaging more finance providers, involving the entire food supply chain in environmental improvements, creating supportive government policies, and establishing standardized data metrics for regenerative farming. These measures aim to provide farmers with the necessary financial and technical support to confidently adopt sustainable production practices, leading to improved soil health and reduced environmental impact.