Press Release | April 21, 2021
PepsiCo and Ingredion Partner with Soil and Water Outcomes Fund to Drive Carbon Sequestration and Water Quality Improvement Through Farmer-Centric Approach to Sustainable Agriculture
Pilot Program Will Advance Corporate Sustainability Goals and Create New Economic Opportunities for Growers in Illinois
Media Contacts:
Adam Kiel, AgOutcomes: 515.334.1022, adam@agoutcomes.com
Mark Lambert, ReHarvest Partners: 415-309-9441, lambert@reharvestpartners.com
The Soil and Water Outcomes Fund today announced a new partnership with PepsiCo, Inc. (NASDAQ:PEP) and Ingredion (NYSE: INGR) to catalyze farmer adoption of conservation practices that generate verifiable carbon reductions and water quality improvements.
In 2021, the partnership will encompass a target of 20,000 acres of cropland in Northern Illinois, an important supply-shed territory for both corporations.
This partnership with the Soil and Water Outcomes Fund in Illinois is a component of the efforts PepsiCo and Ingredion are making to scale regenerative agriculture practices in a farmer-centric and outcomes-driven manner. PepsiCo recently accelerated its science-based climate goals, including a focus on its agricultural value chain, and announced an ambitious commitment to spread the adoption of regenerative farming practices across more than 7 million acres by 2030. Ingredion continues to prioritize agricultural sustainability and water management as part of its 2030 All Life sustainability strategy to make life better.
The Soil and Water Outcomes Fund provides financial incentives directly to farmers who transition to on-farm conservation practices such as no till and cover crops that yield outcomes like carbon sequestration and water quality improvement. The resulting verified environmental outcomes are sold to a diverse group of public and private beneficiaries, including corporations like Pepsi and Ingredion, municipalities, state departments of agriculture, and the federal government.
“We are thrilled to partner with corporate sustainability leaders like PepsiCo and Ingredion to deliver the verified environmental outcomes needed to meet their ambitious sustainability goals while providing new conservation incentives to growers in a key supply shed,” said Mark Lambert, managing director of the Soil and Water Outcomes Fund and CEO of ReHarvest Partners.
“The opportunity for farmers to earn revenue from environmental outcomes that result from introducing conservation practices, on top of existing crop outputs, is a win-win scenario,” said Adam Kiel, managing director of the Soil and Water Outcomes Fund and executive vice president of AgOutcomes. “We look forward to providing assistance to farmers on their journey to further conservation efforts, enhance on-farm productivity, and steward the land for future generations.”
PepsiCo and Ingredion join Cargill and Nutrien Ag Solutions as pioneering companies working to “inset” corporate emissions by partnering with the Soil and Water Outcomes Fund to empower farmers in key regions to mitigate climate change, regenerate soils, and improve water quality. In 2021, the Soil and Water Outcomes Fund plans to expand to more than 100,000 acres of cropland across Iowa, Ohio, Illinois, and the Chesapeake region. This expansion will significantly increase opportunities for farmers to be compensated for implementing conservation practices that produce verified environmental outcomes.
“PepsiCo recognizes that nature provides enormous opportunities to strengthen our supply chain and the resilience of the farmers we touch,” said Margaret Henry, Director of Sustainable Agriculture at PepsiCo. “By aiding their transition to regenerative agriculture through this partnership we are investing in the farmers’ future profitability, while working to ensure a steady supply of ingredients for PepsiCo’s products and helping to meet our climate goals.”
“Ingredion is committed to making a meaningful difference as we work to make life better, so it is fitting that we focus our sustainability initiatives on practices that make a positive impact on the world,” said Andy Utterback, senior manager of sustainability at Ingredion. “By collaborating with our customers and stakeholders, Ingredion can assist growers in adopting regenerative agriculture practices that increase the resiliency of their operations and ensure the stability of our agricultural supply chain.”
The Soil and Water Outcomes Fund is a partnership of AgOutcomes, a subsidiary of the Iowa Soybean Association, and ReHarvest Partners, a subsidiary of Quantified Ventures. The Soil and Water Outcomes Fund uses best-in-class monitoring and verification tools and approaches to quantify carbon sequestration and water outcomes and provides technical assistance to aid growers on their journey to increase profitability through sustainability.
About AgOutcomes
AgOutcomes connects farmers with opportunities to produce valued environmental outcomes. AgOutcomes recruits farmers for enrollment in the Soil and Water Outcomes Fund, provides customer support and technical assistance to farmers, works with affiliated recruiters, monitors soil and water in enrolled fields, assists with the outcome validation process, and conducts field visits with enrolled farmers. AgOutcomes is a subsidiary of the Iowa Soybean Association.
About ReHarvest Partners
ReHarvest Partners is leading the transition to a more regenerative system of agriculture by creatively deploying capital and structuring unique partnerships through initiatives like the Soil and Water Outcomes Fund. ReHarvest Partners’ outcomes-based approach aligns the interests of investors, farmers, consumers, companies, and government to enhance natural systems. Our mission is to deploy investment capital to cultivate a system of agriculture that enhances rural economies and regenerates ecosystems. ReHarvest Partners is a subsidiary of Quantified Ventures.
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