Growing Returns

Major banks are setting climate targets. What the agricultural finance sector needs to know.

By Vincent Gauthier / Bio / Published: December 14, 2022

Many major banks have set targets to reduce financed greenhouse gas emissions in their loan portfolios to zero by 2050 (also known as net zero targets). They join a growing movement of companies throughout the agricultural supply chain to set ambitious targets to reach net zero by 2050 to prevent the most severe impacts from climate change.

The Banking for Impact on Climate in Agriculture (B4ICA) initiative recently published “An introductory guide for net zero target setting for farm-based agricultural emissions” that shares best practices for banks to set net zero GHG emissions targets for their agricultural loan portfolios. The guidance helps banks setting agricultural sector emissions reduction targets as part of their commitments to the Net Zero Banking Alliance — an alliance of 122 banks representing 40% of global bank assets that have committed to aligning their assets with net zero GHG emissions by 2050 or sooner. Read More »

Posted in ecosystems / Tagged agricultural, agricultural finance, agricultural lenders, agriculture, banks, farmers, finance, GHG emissions | Comments are closed

How companies can reduce nitrogen pollution and measure progress toward climate goals

By Simone Schenkel / Published: December 8, 2022

Nitrogen is essential for life, but excess nitrogen can pollute the atmosphere and water. This has a huge impact on human and ecosystem health, as well as financial losses to farmers from fertilizer — which is at a record high price — that ultimately won’t be utilized by crops.

EDF’s new N Balance Implementation Guide provides a comprehensive and pragmatic road map for food and agriculture companies to help reduce nitrogen pollution from agricultural production and claim the environmental improvements associated with nitrogen management.

Also posted in Agriculture / Tagged farm, farmers, fertilizer, implementation guide, N Balance, n balance guide, N Visible, nitrogen | Comments are closed

EDF Celebrates the Passing of the NY Bond Act.

By Kate Boicourt / Bio / Published: November 9, 2022

In the climate policy world, states and localities are often laboratories of innovation and progress. However, with the devastating impacts of hurricanes, wildfires and heat waves, residents are already experiencing the costly impacts of climate change. To mitigate these costs, EDF supports innovative funding and financing strategies — especially in areas that are most vulnerable to climate impacts. One example of this is EDF’s work on a ballot measure in New York State.

This week, voters passed the historic Clean Water, Clean Air and Green Jobs Environmental Bond Act ballot measure. This comes on the heels of the 10th anniversary of Hurricane Sandy, ushering in a variety of new flood resilience projects aimed at mitigating these risks to communities.

Also posted in Climate Resilience, Coasts and Watersheds / Tagged clean water, climate resilience, Coast, coastal resilience, environmental justice, green jobs, New York, NY Bond Act | Comments are closed

New report provides a science roadmap for natural climate solutions

By Emily Oldfield / Published: October 31, 2022

Natural climate solutions, such as reforestation and wetland restoration, can help slow climate change and increase resilience in the face of climate impacts we can’t avoid.

These approaches have substantial and growing support from bipartisan lawmakers, the private sector and environmental nonprofits. However, big questions remain: Where are these strategies most effective? To what extent can they meaningfully remove and reduce greenhouse gases? How will increased drought, fire and pest outbreaks impact their ability to stave off climate change?

Also posted in Climate Resilience / Tagged climate change, climate mitigation, climate res, natural climate solutions | Comments are closed

My perspectives on how we can inspire the next generation of Black climate leaders.

By Guest Author / Published: October 26, 2022

By Arianna Mackey, Environmental Defense Fund (EDF) Summer 2022 Intern

I became aware of my community’s lack of environmental awareness at a very young age. Growing up in the Hampton Roads area of Virginia, my family and I visited the Nauticus museum often. One afternoon, after spending time in the flooding exhibit, I explained to my mom that due to increased flooding, Virginia Beach would be inhabitable in the future, with standing water reaching the front door following a storm. She brushed me off by saying it was an “over-exaggeration” and our community was fine. That encounter piqued my interest in environmentalism. Read More »

Also posted in Climate Resilience, Coasts and Watersheds / Tagged climate change, coastal, coastal communities, environmental justice, flood risk, resilience, virginia coast, virginia flooding, water quality | Comments are closed

World Food Day has come and gone, with food security still out of reach for people and planet

By Tom Grasso / Published: October 24, 2022

Every October, the global community comes together to celebrate the founding of the United Nations Food and Agriculture Organization as World Food Day. Taking stock, it is plain to see just how far we still have to go to achieve the FAO’s founding mission to defeat hunger and improve nutrition and food security for the planet.

The obstacles to achieving this goal are many and complex: the COVID-19 pandemic, the war in Ukraine, and the ongoing challenges of conflict, water shortages, flooding, and rising food costs are just a few. However, they all share one thing in common: they are exacerbated by the existential threat of climate change.

With less than a month to go before the 27^th United Nations Climate Change Conference (COP 27) in Egypt, world leaders must consider the importance of addressing food insecurity as a part of solving the climate crisis.

Posted in ecosystems / Tagged agriculture, climate change, food production, food security, sustainability | Comments are closed

Farmers see value in agriculture loans that reward stewardship

By Maggie Monast / Bio / Twitter profile / Published: October 14, 2022

In January 2022, global farmer-to-farmer network and ag tech company Farmers Business Network^®, launched a new rebate program for farm operating loans. The Regenerative Agriculture Finance Operating Line program includes a 0.5% interest rate rebate for farmers who achieve climate and water quality benchmarks established by Environmental Defense Fund. Both farmers who already meet the benchmarks, as well as farmers who improve practices to do so, are eligible.

The $25-million pilot fund filled up quickly, with 48 farmers enrolled and a growing waitlist to participate in an expanded fund. With the initial pilot underway, FBN plans to scale the fund to $500 million over the next three years and access public markets to securitize and sell these loans to investors seeking liquid, environmentally friendly investments.

Over the first year of the program, we are sharing what we are learning with others in the agriculture sector. EDF had the chance to sit down with two participating farmers about their experiences — Joel Uthe, operator of Uthe Farm in Chariton, Iowa, and David Iverson, operator of Iverson Farm in Astoria, South Dakota. Read More »

Posted in ecosystems / Tagged agriculture, farm finance, farmers, soil health | Comments are closed

A conservation win and groundwater loss: Arizona ends 2022 session with mixed water record

By Christopher Kuzdas / Bio / Published: July 20, 2022

The Verde River, one of the last free-flowing rivers in the Southwest, remains unprotected after another year of in action to address rural groundwater pumping in Arizona.

After months of negotiations, the Arizona Legislature passed a major water spending plan last month with funding for new conservation efforts to address deteriorating water supplies. However, for the fourth year in a row, state leaders failed to pass legislation to address unlimited groundwater pumping, missing an opportunity to enable a water secure future for 1.5 million rural residents and the state as a whole.

Also posted in Agriculture, Climate Resilience, Water / Tagged agriculture, Arizona, colorado river, drought, farmers, groundwater, sustainability, water use | Comments are closed

FEMA’s community resilience program is in high demand. This guide can help strengthen applications.

By Cathleen Berthelot / Published: March 30, 2022

The recent tornado in Louisiana and wildfires in Texas highlight the toll climate change is having on communities across the country. In 2021, the U.S. experienced 20 climate disasters that each cost at least $1 billion in damages, totaling $145 billion and resulting in the tragic loss of 688 lives.

The Federal Emergency Management Agency’s Building Resilient Infrastructure and Communities program is anticipated to significantly increase funding for local and state governments, federally recognized tribes and territories for projects that reduce the impacts from disasters like flooding, wildfires and droughts.

EDF commissioned AECOM, a leading global infrastructure firm, to conduct an analysis of prior BRIC applications to develop best practices and recommendations for securing funding for natural infrastructure projects through the program.

Here are ways this resource can help applicants increase their chances of securing this critical funding.

Also posted in Coasts and Watersheds / Tagged BRIC, BRIC program, coastal flooding, FEMA, infrastructure project, NOAA, wildfires | Comments are closed

California’s new farmland repurposing program requires community engagement. This guide describes how.

By Anna Schiller / Bio / Published: March 14, 2022

Many regions in California are embarking on a new era of water and land management strategies as local agencies implement sustainability initiatives and climate change intensifies droughts and water scarcity.

However, too often low-income rural communities have had little opportunity to influence land and water decisions that directly impact — and often harm — them, resulting in such outcomes as wells drying up and limited access to parks.

California’s new Multibenefit Land Repurposing Program aims to ensure these communities as well as small-scale farmers are more involved in land and water use planning by making their engagement a requirement for funding recipients.

Also posted in Water / Tagged agriculture, california water, farmland, farmland repurposing, groundwater, San Joaquin Valley, SGMA | Comments are closed