UN Environment partnered with Dutch financial institution Rabobank to establish a USD 1B fund offering grants and loans to businesses interested in investing in sustainable farming practices.
The initiative was announced at the World Business Council for Sustainable Development plenary session, on Tuesday 17 October in Mexico City and was named Kickstart Food.
According to UN Environment, halting climate change along with an increasing agricultural footprint while ensuring growth in agricultural production to feed an estimated 9 billion people by 2050 will be among the biggest challenges of the 21st century.
The new scheme will be a USD 1B facility that aims to provide grants, loans and other forms of credit to agricultural producers that value sustainability.
Kickstart Food will run for 3 years focusing on 4 areas; earth, waste, stability, and nutrition.