Collaboration to galvanise action
Our latest report provides an overview of some of the conversations that took place during the Transitioning the Agricultural Ecosystem event we hosted at the SMI’s Terra Carta Action Forum at COP27, in partnership with the SMI Agribusiness Task Force, WWF-UK and Sustainable Food Trust.
The report outlines key themes and illustrates the collaborative action needed across the agricultural system to accelerate the transition.
1. Measurement is needed to create a common language
Practical action:
- Create financial incentives for farmers to collect data that could help farmers, governments, food retailers, and the finance community determine the highest impact areas needed to make progress.
- Develop and adopt a simple and common measurement standard to reduce the burden of data collection on farmers and enable positive environmental outcomes to be rewarded.
2. Policy needs to support the transition
Practical action:
- Undertake analysis to better understand policy gaps so we can identify opportunities for aligning incentives between agriculture, climate, and environmental policies of governments.
- Form a coalition of “the willing” from public, private, regulatory, and philanthropic organisations to work together to influence on supportive policies.
3. Finance is critical to enable the transition
Practical action:
- Work with actors from across the agricultural and financial ecosystems to design and structure integrated funding and financing solutions to incentivise and support farmers to transition.
- Collaborate with stakeholders to build and champion transition stories from across the ecosystem; bring the facts to life, make the abstract concrete and show the investment case for sustainable farming.
We would like to acknowledge and thank all key partners that played a role in the SMI Terra Carta Action Forum event. We look forward to continue collaborating with WWF-UK, the Sustainable Markets Initiative Agribusiness and Financial Services Task Forces and the Sustainable Food Trust.
