BASEL, SWITZERLAND — Syngenta plans to spend $2 billion over the next five years to find innovations in agricultural sustainability and combat the pressures of climate change.
“Agriculture is now at the front line of global efforts to tackle climate change,” said Eric Fyrwald, chief executive officer of Syngenta. “Syngenta is committed to accelerating our innovation to find better and ever safer solutions to address the shared challenge of climate change and biodiversity loss.”
The investment supports a new Syngenta sustainability goal of delivering at least two technological breakthroughs to market each year, to reduce agriculture’s contribution to climate change.
Fyrwald said the investment in research and development for sustainable agriculture will be matched by a drive to reduce the carbon intensity of the company’s operations by at least 50% by 2030 to support the goals of the Paris Agreement on climate change. Syngenta’s commitment has been endorsed by the Science Based Targets initiative (SBTi).
“These aren’t just words, this is real action that will drive focus in Syngenta to help farmers tackle climate change and reduce the sector’s contribution to the world’s greenhouse gas emissions,” Fyrwald said.
The investment will be directed toward programs that Syngenta deems beneficial or a potential for breakthrough technologies that will change ag sustainability, such as land use, soil health and pest management.
Syngenta is partnering with The Nature Conservancy to develop strategies to identify and test new innovations and technology that can benefit farmers and contribute to positive environmental outcomes.
“Achieving conservation at scale will require bold action from the private sector,” Sally Jewell, CEO at The Nature Conservancy. “As businesses increasingly recognize the risks of climate change and the benefits of sustainability, we welcome the opportunity to contribute our science and expertise to help transform business practices. Syngenta’s investment in innovation is an important step toward a future where people and nature thrive.”