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Diving summary:
- Food multinational Kellanova on Wednesday announced a regenerative agriculture deal with Varaha, Asia’s largest carbon project developer, aimed at reducing food producer supply chain emissions.
- The deal between Klanova – Formerly known as Kellogg’s, Ahead of the food multinational’s spinoff in 2023, Vevaraha will help 12,500 hectares of corn farms in India adopt sustainable practices and cut nearly 100,000 tons of carbon dioxide emissions from their supply chain, according to a report sent to ESG Dive on Wednesday.
- The companies considered the deal unique because it focuses on moving small corn farms up the food supply chain rather than using the project as a compensation mechanism.to institutionalize“
Diving Insights:
Kellanova has an innovative, science-based target to achieve net zero emissions by 2050, which includes a short-term goal to “advance the well-being of 250,000 people in [its] Food value chain” until 2030.
The five-year contract will help transition 5,000 smallholder farmers—those with less than 10 hectares or nearly 25 acres of land—in Maharashtra, India, to regenerative farming practices, including improved residue management and nitrogen use efficiency, raised bed planting and cover cropping. New measures are being taken to improve soil health, reduce fertilizer use and improve crop yield.
“Our program with Varaha proves that climate action and farmer welfare can go hand in hand,” said Shaughan Kennedy, Kalanova’s vice president of Asia Pacific, Middle East and Asia Supply Chain, in the statement. Today’s consumers expect the food they eat to be responsibly sourced, and this program sets a precedent that others in the industry can follow.
The deal comes after that Kellanova joins partnerships with Indigo Ag and Walmart Last month, it will invest in transitioning Arkansas rice farmers who supply Walmart’s prized brand to regenerative farming practices. The Kellanova-Walmart joint venture comes after Indigo Ag and Walmart previously partnered on the initiative for four years, according to the Nov. 24 release.
For Varaha, the deal comes a few weeks after the stable investment company Mirova invested 30 million dollars for the company to expand its regenerative farming practices. Varaha CEO Madhur Jain said in the statement that the Kellanova project “combines robust science, advanced digital tools and deep farmer engagement to deliver measurable climate and livelihood impact.”
Jane ESG Dive was previously told He expects India to emerge as a major decarbonization hub in the next few years, and the multinational food producer said in a news release that the project “identifies India as a key geography for Kellanova’s global sustainability program.”
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