Agribusiness
- PAC Agri Connections 2024 Expo successfully concluded setting a positive tone for Pakistan's Agritech Ecosystem after a long gloomy period. With nearly all big MNCs from the Agrifood sector and leading agritech players under one roof, the entire thing seemed like a preload to much bigger developments that may unfold over the coming months. While I was there for only a few hours and could not attend the whole thing because of some personal crisis, one of the biggest events in our Agrifoodtech (yes, that should be a new term for the ecosystem soon given the diversity of emerging participants at the expo. That's how we complete the loop and connect farm to table) landscape follows Government's year-long efforts to bring domestic and foreign investments in a corporate farming push that will cultivate 0.3 million barren acres
(initially) with 16 companies offering seeds, fertiliser, pesticides, farm machinery and other items at a centralised commercial area.
- It also aligns with recent announcements of major climate funds some of which will flow to agritech players which are in addition to the institutional investors that are reportedly active in pursuing climate projects along the Indus Valley. The agritech landscape is growing in below major directions. The first and foremost is the farm management and precision agriculture platforms which are still maturing for the local market (the Agrilfit/HBL partnership announced at the Expo being a major sign and increased interest from insurance players entering or improving their game) with the second being the agribusiness marketplaces where despite saturation, no one has been able to lock the market with marker digitization still a dream. Farmghar is doing good work on the livestock side despite being more complicated than crop inputs. We should also expect new partnerships in the agri-financing landscape based on some conversations because that's the key to pushing mechanization and drones to the larger market and in the big farms of Southern Punjab and Sindh. Lastly, there is a nascent but much important space for biologicals which is even new for me so won't say a lot except that nutrients may turn up as the fastest growing category due to fertilizer price hikes and shortages.
- Beyer confirmed the 2024 outlook for cash flow and earnings despite sluggish performance in its crop science and consumer health divisions. CEO Bill Anderson expects EBITDA to decline between 3% and 9% and that free cash flow can reach 2-3 billion euros ($2.1-$3.2 billion) up from 1.3 billion last year. In a separate interview to Chinese media, Anderson pledged further investments in the Asian country and higlighted upcoming initiatives, including the launch of an open-innovation platform for cell and gene therapy in Shanghai and the establishment of new facilities in Hangzhou and Shanghai. Meanwhile, a Washington state judge slashed Bayer's Monsanto's verdict in half to $438 million in a lawsuit over chemical pollution at a Seattle-area school. The ruling stems from PCBs sold by Monsanto spinoff Pharmacia, which were found to be unsafe at the Sky Valley Education Center. Monsanto plans to appeal, arguing the award is excessive, despite previous verdicts and claims of health issues from PCB exposure. Read more: Reuters
, Xinhua
, Reuters
- Bayer has partnered with AlphaBio Control to launch an innovative bioinsecticide specifically designed for key arable crops like oilseed rape and cereals. It’s claimed as first of its kind bioinsecticide for certain crops, targets the damaging cabbage stem flea beetle, a major concern for rapeseed crops with plans to be launched in 2028. Read more: Wisconsin Ag Connection
- A US Federal judge put the brakes on the first four lawsuits alleging Syngenta's herbicide paraquat causes Parkinson's disease, ruling out Cornell University professor Martin Wells' testimony. With the trials stalled, plaintiffs' lawyers and the companies are back to the drawing board to propose a new set of cases for trial. While the companies deny paraquat's link to Parkinson's, the legal battle rages on as nearly 5000 cases remain pending. Meanwhile, paraquat's popularity persists despite being banned in over 60 countries, posing a challenge to the ongoing mass tort litigation. Read more: Reuters
Agritech
- Swiss Agritech xFarm Technologies announced merger with Spanish Greenfield Technologies and French SpaceSense. xFarm will gain expertise in analyzing soil health and using satellite data with AI to improve farming practices, putting it as a major oil in the European agritech landscape. On the other hand, Greenfield will benefit from xFarm's established network and resources and SpaceSense will be able to scale up its climate intelligence services with xFarm's support. Read here: Tech EU
- Ecozen, a Pune-based agritech firm known for its solar powered pumping and cold storage solution, hit a $30 million funding round. Riding on a fivefold growth surge in the past two years and a threefold profit increase, Ecozen aims to double its revenue by 2024-25. Armed with cutting-edge tech like AI, IoT, and thermal energy storage, the company plans to expand its offerings beyond agriculture into sectors like milling, retail, and industry, while eyeing expansion into Africa and Southeast Asia. Read more: Economic Times
- Amsterdam-based Meridia just closed a €5.2 million funding round to tackle a hidden problem in our everyday products: messy data in agri-commodity supply chains. Their Verify platform aims to be the ultimate data detective, sniffing out errors and fraud to ensure a smoother, more sustainable flow of goods. Meridia's Verify platform uses a combination of data verification tools and earth observation (think fancy satellite tech) to pinpoint bad data in real-time while it also plans expansion to other sectors. Read more: Silicon Canals
Climate
- US will soon roll out guidelines for carbon offsets to boost confidence in carbon markets, announced top US climate diplomat John Podesta. Announcement comes following a row erupting at the world's top climate watchdog, Science Based Targets Initiative (SBTI), after it announced allowing their standards for the use of carbon offsets. Top advocates for the policy including Podesta and John Kerry believe it’s essential to bring necessary financing into the system while critics fear it can open a loophole for big oil and other polluters to continue damaging the planet.?In related news, SBTi CEO, Luiz Amaral tried to ease fears by emphasizing the group's commitment to science-based decarbonization in a blog post and stated that the group is still gathering feedback. The group trustees have also made clarification stating “no change had been made to the group's current standards”.?More or less the whole thing feels like psyops to slowly acclimatize the general public and industry to an opposing agenda or there would have been no point in issuing a statement if the intention was to take it back. Carbon credits guidelines for offsets will soon hit the market! Read more:? Reuters
- EU Parliament approved changes to the Common Agricultural Policy (CAP) weakening environmental requirements for farmers receiving EU subsidies.? Farmers must currently follow some green practices (like crop rotation) to get CAP money but these new rules loosen those requirements, potentially allowing more use of pesticides and fertilizers, which can harm ecosystems and pollute water. Critics are accusing EU Commissioner Ursula von der Leyen of fast-tracking these changes by even bypassing the committee in charge of environmental matters to appease the farmers. The development came a month before EU elections in which right-find hardliners are expected to gain ground over farmer protests. Critics also argued that weaker green rules mean a return to industrial farming, harming the environment and locking farmers into a cycle of toxic chemicals. Read more: FoodWatch
, Euronews
- Goodcarbon, a German climate startup, has secured €5.25 million to connect businesses with high-quality nature-based solutions for offsetting their carbon footprint.? It offers a A digital platform that links companies with projects focused on nature regeneration in the developing world. Examples include reforestation, ecosystem restoration, and sustainable land management while it prioritizes high-impact projects with verified carbon sequestration and social benefits for local communities. There's a growing demand for credible carbon offsetting, but a lack of transparency and quality control in the market. The funding will go into expanding the company expertise and the portfolio of nature-based projects. Read more: Forbes
- More than 250 South Koreans are suing their government for not effectively addressing climate change including a 17-month-old nicknamed Woodpecker. The lawsuit argues that insufficient action on carbon emissions violates citizens' human rights, especially affecting future generations. The case follows a landmark ruling in a similar case in Europe and could set a precedent for cases in Asia as well. Read more: NPR
- Record $8.8 billion was yanked out of US Sustainable Funds in Q12024 but there is a clear split on both sides of the Atlantic with European Funds reporting healthy inflows of $10 billion. Rising interest rates, sluggish returns, fears of greenwashing and politicization of ESG are major factors contributing to the outflow in the US while EU regulators and consumers both remain steadfast in favoring ESG investing.? The global sustainable investing landscape is becoming more complex. While Europe remains a leader, US interest is wavering. This could be a temporary blip or a sign of a longer-term shift. Only time will tell. Read more: Reuters
- BlackRock tripled spending on home security systems and hired bodyguards for CEO Larry Fink amid ESG Backlash. BlackRock's ESG investing strategy, which prioritizes companies with strong environmental and social practices, has angered some, particularly Republican-led states with world’s biggest wealth manager losing more than $13 billion as Republican-controlled states withdrew investments in protest of ESG policies. Read more: NY Post
- Businesses are turning to AI to validate their sustainability claims and ensure genuine environmental action amid rising concerns over greenwashing. By scrutinizing supply chains, predicting carbon output, and streamlining operations, AI can promote transparency and eco-efficiency. However, as AI becomes ubiquitous, it's crucial to address its environmental impact, particularly its water usage in data centers, underscoring the need for responsible innovation. The challenge now lies in striking a balance between leveraging AI for accountability and avoiding its potential for corporate obfuscation. Read more: Techopedia
