Dutch bank Rabobank and U.N. Environment have announced a $1 billion program in the framework of which novel ways of farming will be funded to reduce emissions, restore land and protect forests. “Our aim is to substantially increase the quality of existing arable land while protecting biodiversity and reducing climate change worldwide,” said Rabobank’s CEO Wiebe Draijer.
Sustainable farming, food processing and trade companies supporting the cause will receive funding, first in Brazil and Indonesia.
“We want the entire finance industry to change their agricultural lending, away from deforestation and towards integrated landscapes, which provide good jobs, protect biodiversity, and are good for the climate,” said Erik Solheim, head of U.N. Environment.
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