Rabobank and UN Environment to promote sustainable food production
Rabobank, a Dutch financial services company, has launched a new US$1bn Kickstart Food Programme to help feed the world sustainably and highlight the issue of food security.
Part of its wider Banking for Food Strategy, the new Kickstart Food initiative will see the company work with clients and partners to increase food production by 60% whilst halving the ecological impact by 2050.
Through the program, Rabobank will launch a US$1bn facility in partnership with UN Environment to help promote land restoration and forest protection initiatives.
Chairman of the Executive Board Wiebe Draijer: “With our knowledge, networks and financing capabilities we aim to further motivate and facilitate clients in adopting a more sustainable food production practice globally.
“We are proud of this major initiative with the UN Environment. We will engage others to expand the initiative. It fits very well with our mission of Growing a better world together.”
In Europe, more than 250 mn tonnes of food is wasted every year which equates to a total of EU€30bn worth of food thrown away annually.
As a result, the food and agriculture industry loses an estimated EU€60bn annually.
Therefore, Rabobank is embracing the UN Sustainable Development goals by promoting food production growth and the reduction of the sector’s environmental footprint.
“In 33 years the world’s population will have surpassed 9 billion. In the current climate, this milestone has the potential to create a dilemma for the agricultural industry, with food production having to rise by 60% to accommodate the growing needs of society.” Said Tamira Treffers-Herrera, Regional Head at Rabobank Europe.
“We need to take bold and brave action to address these challenges straight on and that’s exactly what we’re doing at Rabobank as part of our banking for food strategy. Our latest initiative, the Kickstart Food program, aims to speed up sustainable food production and reduce food waste throughout the food and agriculture supply chain.”
Rabobank says that this joint effort with UN Environment is designed to be an open platform.
Therefore, the company has invited stakeholders from across the food and agricultural sector to join the Kickstart Food program.