Month: July 2023

Approximately 97 percent of the world’s farmers farm on less than 10 hectares (about 25 acres) of land. They represent approximately 550 million smallholder farmers in low- and middle-income countries (LMICs), especially across Asia and Africa. These farmers, many of them owning under 2 hectares (about 5 acres), feed more than half of the population in these regions. Therefore, it’s no exaggeration to say that smallholder farmers play a big role in global agriculture and food security.

In line with the UN Sustainable Development Goals (SDGs), we are committed to contribute to feeding the growing population while respecting planetary boundaries. We start at the farms of those who form the backbone of food security in many rural regions of the world. Smallholder farmers’ efforts to escape poverty and feed their families are our efforts as well. We want to help them thrive, empower them to build viable and sustainable businesses, with ripple effects on their rural communities. We want to make a difference – not only in the lives of smallholder farmers but ultimately our all livelihood.

Empowering smallholder farmers is crucial for food security. Together with our partners, we strive to unleash the potential of individual smallholders whose success ultimately contributes to the ecosystem success. Sustainability increased smallholder incomes will in turn benefit the inclusive development of low- and middle-income countries.

D Narain , Global Lead Smallholder Farming

Smallholder Needs

Many of these smallholder farmers are facing significant challenges. Their yields are often low because they do not have access to high-quality crops and practical knowledge about more productive and environmentally friendly cultivation methods. Often, they do not have affordable financing opportunities and access to markets on which they can sell their products at appropriate prices. At the same time, smallholder farmers are also highly exposed to the impacts of climate change and increasingly to harvest losses. For all these reasons, they are often not able to achieve a stable income through farming.

Smallholder Strategy

As the world’s leading agriculture company, we will support a total of 100 million smallholder farmers in LMICs by 2030 by improving their access to agricultural products, services, and partnerships. To achieve this, we are increasing the range of our commercial efforts and strategic initiatives tailored to the needs of smallholder farmers. Our strategy to strengthen smallholder farmers is embedded in our regional commercial strategies.

We are successively expanding our product and service portfolio for smallholder farmers, including innovative business models and digital solutions across the entire crop system. This includes solutions from the areas of digital farming and market access, a modified product portfolio, biotechnological solutions, and the formation of partnerships along the value chain.

We aim to create market models that reduce business risks for all partners in the value chain, including smallholder farmers. This is implemented by helping smallholder farmers gain access to the agricultural value chain and increase productivity and income, as well as by creating resilience to ensure the long-term food security of smallholder farmers, their families, and rural regions in the LMICs.

Targets & Achievements

By 2030, we will be supporting 100 million smallholder farmers in LMICs with products, services, and partnerships. We want to enable them to produce enough quality food for themselves and others. While we know improving the livelihoods of smallholder farmers will improve food security and quality of life in their communities, we also know it will help us grow our business.

Globally, we generated around €2.3bn of sales with smallholder farmers in 2022, which represents roughly 9% of Crop Science’s divisional sales. We estimate our Smallholder farming business to double by 2030 (vs. reference year 2019 of ~€1.7bn€).

In 2022 already, together with our partners, we supported 52 million smallholder farmers in LMICs with our products and services – 3 million more than in the previous year. We achieved this by significantly expanding business activities, especially in Asia/Pacific.

The Bayer Foundation funds the Digital Farmer II program of our partner Mercy Corps Agrifin together with the Bill & Melinda Gates Foundation. This leverages the spread of digital technologies to develop more efficient digital information and financial products and services for smallholder farmers. The goal is for the program to serve up to five million farmers in Nigeria, Kenya, and Ethiopia by 2025. In 2022, we reached some 950,000 smallholder farmers via non-commercial partnerships.

Read more about Our Targets & Our Progress | Bayer global

Read more about the Smallholder Reach Methodology in the Method Paper Smallholder Reach (PDF)

To scale our efforts, we build our engagement with smallholder farmers on the key strategic initiatives of Smallholder-centric Solutions, Value-chain Partnerships, and Digital Solutions – to ultimately unleash their farming potential and improve smallholder livelihoods.

Designing smallholder-centric solutions is key to enable more smallholder farmers to have better yields at their crops. These solutions allow to attain high-quality seeds for main crops which endure better though environments and pests, while creating more affordable and effective crop protection products.

Through a deep understanding and close collaboration with smallholder farmers we aim to create lasting partnerships that provide access to training, advice, and solutions that are needed to harness the opportunities of commercial farming, while also establishing inclusive business models that help connect smallholder farmers to the agricultural value chain.

To help them increase their productivity while heightening land stewardship, we need to create, test and scale digital solutions. Augmenting the access and use of new technologies is essential to overcome extreme weather conditions and pests, while improving income and food security.

We’re working directly with smallholder farmers around the world to make a massive impact, together.

For more information, please contact:

Global Smallholder Farming 
Crop Science Division, Monheim, Germany

Email: smallholder@bayer.com

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Companies are feeling the pressure to report on Environment, Social, and Governance-related (ESG) topics— but many are confused about where to begin. Throughout this blog series, we’ll explore how to start planning, what these requirements mean, and how to phase new regulations into annual reporting processes.

The Basics: Where are these requirements coming from?

Such demands for information are coming from internal and external stakeholders alike. Employees are seeking safety, security, and stability; regulators seek to ensure their communities are protected from contamination and competition for resources; investors are seeking “sustainable investments” and projects; and business leaders must protect and grow their organization in an ever-changing global economy.

Historically, companies have voluntarily communicated their ESG efforts to different stakeholders through a number of channels ranging from occasional press releases or blog posts, to the multitude of third-party customer and investor surveys such as the Dow Jones Sustainability Indices (DJSI), CDP and EcoVadis, or through full-fledged corporate sustainability reports aligned to prominent standards and frameworks such as Global Reporting Initiative (GRI), Sustainable Accounting Standards Board (SASB), and Task Force on Climate-Related Financial Disclosure (TCFD).

Up to this point, companies have largely been given the flexibility to pick and choose which topics to address, what boundary to apply, how to calculate data, and whether to have their information assured by a third-party. The concern, however, is how to discern if the information presented to stakeholders is a valid and true reflection of the company with so little responsibility tied to performance or communication.

This growing concern about lack of transparency, accountability, and consistency has risen to a boiling point, to the extent that we have now entered a new Era of Compliance.

Emerging Legislation 

The UK TCFD-Aligned Disclosure, the pending SEC proposal, and the upcoming EU Corporate Sustainability Reporting Directive “CSRD,” are all examples of newer legislation which seeks to standardize reporting requirements around various ESG topics. Many of these new legislative pieces are leveraging existing surveys and frameworks to inform their requirements rather than introducing yet another reporting framework.

Companies that meet the conditions for these new policies will soon be legally obligated to report annually on ESG matters, with certain topics required to be externally assured – a step forward towards credibility and consistency.

Impacts of this new legislation include:

As of April 6, 2022, certain UK-registered companies and financial institutions are now required to disclose climate-change related risks and opportunities that are material to their organization in compliance with the Task Force on Climate-Related Financial Disclosures (TCFD). The ruling is said to impact approximately 1,300 organizations. Examples of the disclosure requirements include description of governance arrangements to address climate-related risks and opportunities; process for identifying, assessing, and managing the relevant risks and opportunities; as well as actual and potential impacts of climate-related risks and opportunities.The proposed SEC ruling has to be finalized yet; however, the rule would require registrants (foreign and domestic) to include certain climate-related information in reports such as their annual Form 10-K. Topics under consideration include climate-related risks and material impacts; climate-related risks and management processes; greenhouse gas (GHG) emissions which could be subject to assurance; climate-related financial statement metrics; and information about climate-related targets, goals, and corresponding transition plans. The SEC proposal is built upon existing frameworks such as the TCFD and the Greenhouse Gas Protocol. (Learn more about the proposed rule)Meanwhile, the CSRD is one of the most highly anticipated and wide-reaching regulations to emerge with regard to ESG reporting, with an expected impact on almost 50,000 companies worldwide. This new reporting requirement is set to go live in 2024. The standard specifies that companies will be required to disclose environmental factors such as climate change mitigation (including greenhouse gas emissions); pollution; and biodiversity and ecosystems. Social topics obligated to be discussed include equal treatment and opportunities; working conditions; and their approach to respect for human rights. Finally, the CSRD requires governance topics addressing leadership accountability; internal controls and risk management; business ethics and corporate culture; and value chain management (e.g. customer relations, suppliers and communities affected by business activities, and payment practices).

Introducing Double Materiality 

Not all ESG topics are materially relevant to all companies, even within the same industry. As a result, in each of these regulations, there remain allowances for companies to exclude certain information which has been deemed “immaterial.” So, how does a company determine which topics are material enough to be included and to what extent?

To address this confusion, the CSRD has introduced the mandatory application of “double materiality.” This concept broadens the scope of materiality beyond the direct financial impacts of business activities to also incorporate the material impact of business activities upon people and the environment.

Therefore, as a first step and as best practice, companies should begin considering double materiality as a means to evaluate their broader ESG-related decisions and prepare for new compliance requirements.

Antea Group is prepared to offer support for double materiality assessments as well as other reporting services through our Sustainability Consulting practice. Contact us today for more information!

CHARLESTON, S.C., July 12, 2023 /3BL/ – Following the successful opening of the Charleston Commercial Banking office last year, Fifth Third Bank, N.A., continues to increase its investment in South Carolina by offering full-service retail banking to the Lowcountry. With the opening of a James Island branch location on July 11, 2023, Fifth Third is planning to build an extensive branch network in Charleston to include a second location forthcoming in Mount Pleasant later this year.

Fifth Third began operating in South Carolina in 2011 with a commercial team in Greenville and, in 2020, opened the first branch location in that market. The bank now serves the Upstate with a five branch locations and plans are in place for more to open by the end of this year.

“Investment in South Carolina is a priority for Fifth Third and we are thrilled to open our first branch location in the Charleston Market,” said Lee Fite, President, Fifth Third Bank, Carolinas Region. “We have been successfully serving the Upstate for over 10 years and have expanded our operations in Charleston under the leadership of Charlie Arndt and Jason Hessberg. Our customers can count on our South Carolina retail team to listen and support their interests throughout the Palmetto State.”

The first branch location on James Island at 1301 Folly Rd. features a drive-thru as well as the Bank’s “Next Gen” design. A grand opening and ribbon-cutting ceremony for this location are scheduled for Wednesday, August 23rd at 10:00 a.m.

“We are extremely excited to open our first branch location in the Charleston market,” said Tommy Lloyd, retail executive of the Carolinas Region, Fifth Third Bank. “Michael McAbee, our regional retail manager has been in the market working to recruit and train a local team that will bring our customer-focused approach and innovative branch design to the Lowcountry.”

Next Gen branch features:

Mobile bankers using technology that allows them to meet and serve customers in a variety of settings. Rather than having teller “windows,” the new space gives employees the freedom to move around the lobby. Tablet computers encourage a more direct and personal way of serving customers.A tech wall with a dynamic digital screen.Flexible meeting and seating areas, with layers of privacy that can adjust depending on the need and the type of conversation taking place.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com. Member FDIC.

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CONTACT 
Amber Darnell 
Amber.Darnell@53.com | 704-808-5016