We were thrilled to attend the 2024 Sustainable Agriculture Summit, hosted in Minneapolis. As a company based in the heartland, we recognize the huge potential the agriculture space has for combating the climate crisis and building resilience. Collaboration across the agricultural supply chain is necessary to solve shared challenges and drive a more sustainable future for the entire industry. 

Thank you to Field to Market for hosting this insightful conference! Here are three of our takeaways:

1. The industry is moving toward supply chain collaboration.

Agriculture companies have learned quite a bit from their own carbon and net-zero commitments. Now, the industry is applying those lessons to make more informed commitments on biodiversity, water stewardship, and more.

In the past, agriculture companies have made individual commitments to sustainability when setting Scope 1, 2, and 3 targets. However, without thorough consulting with the growers in the supply chain, trying to reduce Scope 3s can be close to impossible. Achieving Scope 3 targets will require a major transition throughout the industry. Reducing Scope 3 emissions, which encompass everything from field to fork, requires a sector-wide transformation. It’s a monumental task that no single company can tackle alone.

“Landscape-scale” was a hot-button term at the conference, for good reason. Taking a systems perspective on sustainability is key – one company can’t change the way things work in the industry. Agriculture companies recognize the need for supply-chain collaboration and landscape-scale solutions to achieve shared sustainability objectives. New collaborative tools could be key to addressing these objectives. As the sector grapples with how to turn these individual commitments into actionable strategies, one thing is clear: real progress will only come through inclusive, grower-centered approaches. 

2. Catalytic Capital: Driving Blended Finance to Advance Sustainability

One of the most insightful sessions we attended was The Agriculture Finance Sustainability Coalition: Driving Blended Finance to Advance Sustainability. For producers looking for funding for their sustainability efforts, catalytic capital could be key.

Catalytic capital is a catch-all term for equity investments, loans, and other financial instruments that are designed to stimulate impact and attract third-party investment that typically wouldn’t be possible. 

The Greenhouse Gas Reduction Fund (GGRF), created as part of the Inflation Reduction Act (IRA), has awarded $27 billion in catalytic capital, including nearly $7 billion to Climate United for financing projects that will include the agricultural sector. GGRF funds may be mobilized to offer low-cost capital to agricultural finance providers, who can then offer novel financial products to individual producers to support climate-smart agriculture and decarbonization.

3. Heading into 2025: Where do we go from here?

With a change in administration in 2025, the Sustainable Agriculture Summit had a lot of chatter about the political landscape and sustainability commitments in the coming years.

The Inflation Reduction Act (IRA) has already allocated substantial funding for climate-smart agriculture initiatives, much of which can’t be revoked. While a change in administration might shift political priorities, it hasn’t dampened the agriculture industry’s commitment to sustainability. 

Many of the IRA’s investments have already been committed, signaling a strong foundation that’s difficult to dismantle. If these programs demonstrate tangible benefits—such as financial support for farmers and reduced risks for banks—their mutually beneficial nature makes them unlikely targets for elimination. Beyond sustainability goals, these efforts are driving broader, long-term impacts on agricultural innovation and economic resilience.

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