Davos 2024 – politics, business and climate converge

While current global geo-political tensions, conflict and artificial intelligence dominated the 2024 World Economic Forum in Switzerland last week, the role sustainable food systems play in helping tackle climate issues was also high on the agenda. Even the US Secretary of State Anthony Blinken was heard talking about soil and, acknowledging it was somewhat unusual, he said it underlined how food security and foreign policy are now inextricably linked.

With recent confirmation 2023 was the warmest on record, we welcome the rays of climate-related announcement emerging from various high-level discussions at Davos. The WEF's 2024 Global Risk Report underlined the severity of climate-related threats. When examined in a long-term, 10-year context, climate-related risks occupy five of the top 10 threats as the world approaches a ‘climate tipping point’.

Extreme weather events, critical changes to the Earth's systems, biodiversity loss and ecosystem collapse rank among the most imminent risks, with natural resource shortages following close behind. Figures from the UN claim over the past 50 years the climate crisis has caused more than two million deaths and resulted in $4.3 trillion worth of economic losses.

First Movers Coalition for Food gaining momentum

?The WEF’s goal is to develop systematic approaches to achieve a carbon-neutral and nature-positive world by 2050. What hasn’t always been clear is the role sustainable food systems will play in helping achieve this and what support will be provided. The First Movers Coalition for Food, originally launched at COP28, attempts to correct this.

Along with support from the UAE and over 30 other corporate and research partners, the Coalition aims to accelerate the transition of global food systems to nature-friendly, net zero approaches by 2030. Their main tool is their combined procurement commitment with an estimated value of $10-$20 billion. Details are yet to be worked out, but along with other finance initiatives, these demand signals will help scale regenerative production methods that will improve productivity, farmer profitability and environmental outcomes.

Funding sustainable food production

Currently about 4% of available climate finance is aimed at food system change, despite the food and agricultural sector being responsible for approximately 33% of global greenhouse gas emissions. Allocating more climate finance to the agri-food sector and restructuring investment models is needed - and soon.

During the First Movers Coalition for Food discussion, Megan Scarsella, Executive Director of the Eleven Eleven Foundation, described how currently only 2% of philanthropic finance goes towards solving climate-related issues. But, she claimed, even if 100% went towards tackling the climate crisis, it wouldn’t be enough.

What’s needed is more private investment.

In the WWF’s Food Review of COP28, the organisation highlighted that with more funding into sustainable food systems, the environmental rewards would be significant. It’s claimed that increasing global private investment to $USD 300-350 billion each year could reduce food-based greenhouse gas emissions by 60%.

Here to help

We believe regenerative agriculture has a huge role to play in reversing climate change so, at FAI, we not only champion environmentally positive food production but actively contribute to the transformation of food and agricultural practices.

The COP28 climate summit emphasised it’s essential to address the main cause of rising temperatures - fossil fuels. Transitioning away from our reliance on these fuels in the agri-food sector continues to be a big challenge, but our experience on FAI’s 1,600-acre UK livestock farm highlights what can be achieved – using regenerative, adaptive multi-paddock (AMP) grazing to support strong levels of beef cattle production without the use of artificial fetilisers, herbicides or purchased feed.

But as well as the environmental benefits, it’s vital we highlight the business case too. It’s only by doing so we can ensure a future where regenerative agriculture becomes the new conventional agriculture, and it's our mission to convey this message to farmers worldwide.

In the ever-changing landscape of climate challenges, we want to work with and support those trying to achieve sustainable, high welfare, resilient and economically viable food systems. We hope the delegates who attended Davos have the same aspirations. ?