Elon Musk called for a $ 6 billion plan to end world hunger. Senior executives in the global food industry said it would probably be better to spend the money helping farmers earn good incomes through sustainable agriculture.
“The solution is the farmer“, said Werner Baumann, CEO of Bayer AG. “When it comes to growth on the one hand and sustainability on the other, I would put the $ 6 billion to work to reconcile it and make whatever we do is really farmer-centric.”.
This includes giving farmers access to the right data and technology, and building a system that improves their livelihoods with sustainable practices. Carbon farming, which helps sequester carbon in the soil of farmland, is also an option, he said. Baumann on a panel at the Bloomberg New Economy Forum.
The executive director of Cargill, David MacLennanHe added that investing in infrastructure is key, as it will allow food supplies to get from producers to consumers more effectively. Facilities that can better withstand natural disasters, which will become more common due to climate volatility, are becoming increasingly important, he said.
When it comes to small-scale farming, the cost of infrastructure is artificially too high, he said. Sara Menker, CEO of Gro Intelligence.
She would choose to spend the $ 6 billion to build a financial institution that presents new models for financing agriculture. This can then create “realistically“The infrastructure necessary to achieve change, he said.
Alloysius Attah, CEO of Farmerline, which connects small farmers to information and financial services, echoed the need to invest in infrastructure, such as good roads and storage facilities that reduce losses and improve quality.
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