Global agriculture has a unique role in our world affected by climate change as it is considered one of the biggest contributors towards the same while also being most affected by it. More importantly, it also has a big role to play in combating the issue. The IPCC Special Report on Climate Change and Land states that 21-37 percent of total greenhouse gas emissions could be attributed to the global food system. The evidence of the impact of climate change on farming is growing worldwide as rising temperatures, heat waves, droughts, and floods, changes in rainfall patterns, and extreme events affect agriculture more than any other sector.
These events reduce yields and make farming unviable. This presents a considerable risk to the future of food security for the world.
These challenges, provide us with an opportunity. Effective, holistic, integrated efforts can make agriculture a central part of the global climate solution to ensure food security and a more equitable future for all. During the UN Climate Change Conference COP27, agriculture and food security were in the spotlight, with governments committing to work towards accelerating efforts to cut greenhouse gas emissions and adapting to climate change in the agriculture sector.
The challenge is multi-sided and stuck in an unsustainable loop requiring multi-sided solutions. The emerging Agri-tech sector addresses the short-term issues of income and food security while also tacking the long-term issues of agricultural sustainability.
Emergence of tech-powered agriculture practices
New and innovative agriculture practices, enabled by technology, are being used by farmers around the world to simultaneously improve their productivity, reduce their exposure to climate risk and for sustainability of their operations. Agri-tech has the potential to significantly contribute to climate change mitigation by lowering emissions and boosting carbon sequestration while aligning incentives for farmers by maintaining (or increasing farmer incomes). We already have many tech-powered agri-innovations currently transforming global food systems.
Precision agriculture, which optimises crop production using low-cost sensors and data analytics, is enabling increased yields, lowered waste, and lowered greenhouse gas emissions. With precision agriculture, the World Economic Forum believes world food production could rise 10-15 percent by 2030 and could decrease greenhouse gas emissions and water consumption by 10 to 20 percent, respectively, if 15 to 25 percent of farms adopted this technology. Precision irrigation, which provides water to plants that need it and minimises waste, is assisting farmers in reducing water usage. Precision irrigation systems can save around 30 percent of water compared to traditional irrigation methods. Regenerative agriculture focuses on creating robust soils with the ability to retain carbon and is contributing towards ecological preservation.
According to a study by the Rodale Institute, regenerative agriculture has the potential to sequester more than 100% of current annual CO2 emissions if implemented on a global scale.
Apart from these three agri-tech practices, livestock farming which is another major contributor to greenhouse gas emissions, can also be integrated with technology to greatly reduce its impact on the environment. Technologies like precision feeding, genetic selection, and manure management can reduce emissions and improve animal health.
Additionally, agri-tech goes beyond farm-based solutions to make the life of farmers easier through avenues for financial inclusion, education, and skill development, among others. Agri-tech firms are adding value across the farming value chain and making the adoption of climate-smart farming practices easier and more lucrative for farmers.
Social innovation enterprises as enablers
According to a report by Avendus Capital, the Indian agri-tech sector is poised to grow at a CAGR of 50% over the next five years and address a $34 billion market by 2027. This shows that, despite a funding winter, agri-tech startups are on the rise. These firms are using deep technology, AI, and even simple solutions that are easily affordable and accessible and, are grabbing the attention of venture capitalists, and angel investors. Many prestigious grants and prizes are also supporting and stimulating social innovation in the sector. The/Nudge prize, Infosys prize, The Elevate Prize, and The Earthshot Prize among others, that are providing impetus to leverage business, production, and technology skills in the agriculture sector to solve larger problems.
The government’s recent announcement to set up agri-accelerators in the Union Budget is also a boost to the agri-tech sector. The creation of an agriculture accelerator fund to encourage agri-startups by young entrepreneurs in rural areas will enable inclusive solutions focused on farmers. It will propel innovation in the sector, germinating solutions that can tackle a large spectrum of agri-challenges.
Disclaimer
Views expressed above are the author’s own.
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