The spectre of feeding a burgeoning global population while mitigating climate change and preserving biodiversity has cast a long shadow over agriculture. The conventional Green Revolution, while undeniably successful in boosting yields, has also left an indelible mark on the environment, marked by intensive resource consumption, soil degradation, and water scarcity. With agriculture and forestry as the largest greenhouse gas (GHG) emitting sectors after energy, balancing food production and profitability with ESG imperatives will be increasingly important in the foreseeable future.
ESG integration into agriculture is not merely a buzzword, but a strategic imperative. It signifies a holistic approach that prioritises not just production, but also the well-being of farmers, the health of ecosystems, and the resilience of the food system. By adopting sustainable practices, such as precision agriculture, agroforestry, and regenerative farming, we can optimize resource use, enhance soil fertility, and reduce greenhouse gas emissions. For instance, a recent study indicates that regenerative agriculture has the potential to sequester up to 4 billion tonnes of carbon dioxide annually.
Empowering women
ESG considerations extend beyond the farm gate. Ensuring fair labour practices, empowering women farmers, and investing in rural communities are equally crucial. A leading report highlights that empowering women in agriculture can increase agricultural productivity by up to 30 per cent. By prioritising social equity, we not only uplift marginalized communities but also build a more resilient and inclusive food system.
The journey towards a sustainable agricultural future is fraught with challenges, but the rewards are immense. By embracing ESG principles, we can create a harmonious balance between human needs and planetary health. The New Green Revolution, driven by the integration of ESG principles, offers a holistic approach to creating a sustainable and resilient agricultural system. By embracing environmentally sustainable practices, ensuring social responsibility, and establishing robust governance frameworks, the agricultural sector can address the critical challenges of our time and secure a prosperous future for generations to come. The path forward requires concerted efforts from farmers, policymakers, businesses, and consumers to transform agriculture into a force for good in the world.
(The author is Co-Founder, Updapt an ESG Tech Co)