12/09/2024 – 21:57
The private sector has recommended including payment for environmental services in the commitment to be signed by the world’s 20 largest economies in the G20 Brazil Agriculture Working Group. The suggestions were presented by B20 Brazil – a private sector initiative that connects the business community with G20 governments, coordinated by the National Confederation of Industry (CNI) – to the ministers of state at the summit this Thursday during the ministerial meetings of the G20 Agriculture Working Group.
“One way to encourage more sustainable systems is to recognize the value of ecosystem services and to pay for ecosystem services. We suggest that countries work together to create a framework that recognizes ecosystem services provided by rural producers and uses part of these ecosystem services to finance the transformation of small producers,” said Gilberto Tomazoni, leader of the B20 Brazil Sustainable Agriculture and Food Systems task force and Global CEO of JBS.
B20 Brazil’s proposal is for developed countries to support less developed countries by disseminating technologies and international financing. The main objective, according to the business forum, is to finance the transition of food systems to more resilient and sustainable models, especially for small producers. “The monetization of ecosystem services is an essential strategy for transforming agriculture, making it economically viable, as well as environmentally responsible,” argued Tomazoni.
B20 Brazil estimates that between US$300 billion and US$350 billion per year will be needed by 2030 to transform food systems. “Despite regenerative agriculture’s ability to capture 9% to 23% of global greenhouse gas emissions and its economic relevance, it is receiving only 4% of global investments to address climate change,” said Tomazoni.
In practice, it will be necessary to increase investment by 15 times over the decade to cover the costs of the transition in agriculture. “Our plan aims to accelerate solutions to produce more, preserving our biodiversity, capturing carbon from the atmosphere, and increasing the resilience of food, energy and fiber production systems for future generations,” Tomazoni told the more than 20 Agriculture delegations.
In addition to economic investment, B20 Brazil suggested to the G20 that technical, operational and social measures be adopted to encourage rural producers to adopt innovative and highly productive practices. “This will be possible by placing producers at the center of this transformation, with government alignment and an alliance with the private sector and other sectors. Small producers face significant financial challenges in adopting regenerative practices due to the cost of capital, the time it takes for investments to mature and the associated risk, given that the market will not pay a structural premium on commodities prices,” said the leader of B20 Brazil to the ministers of state.
For B20 Brazil, payment for environmental services is a valid proposal that can be adapted to all countries. “Payment for environmental services is the answer to address this triple challenge and unlock credit uptake. In this edition of the G20, the G20 must accelerate the development of a regulatory framework that enables the issuance of high-integrity and interoperable credits for science-based ecosystem services,” argued Tomazoni.
B20 Brazil also recommended to the G20 that productivity be increased through the development and expansion of sustainable technologies, especially with a reach to small producers. Another proposal from the private sector to the Ministers of Agriculture was the promotion of the World Trade Organization (WTO) multilateral trade system for food and agriculture, eliminating market barriers.
*The journalist travels at the invitation of JBS.
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