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Sustainability

This new carbon credit model will support farmers as they expand sustainable and regenerative practices

UPL Limited, a global provider of sustainable agricultural solutions, has announced the European launch of the Gigaton Carbon Goal, a new series of global initiatives to sequester one gigaton (one billion tons) of atmospheric carbon dioxide by 2040.

UPL will enable agri-ecosystems to create, implement and validate carbon emission and capture protocols. This will generate carbon credits that directly benefit farmers with the potential for additional revenue streams. This new carbon credit model will support farmers as they expand sustainable and regenerative practices, directly benefitting the environment and positioning agriculture as a climate-positive industry.

UPL will mobilise its resources, experience, and global network to identify, invest in, and supply the tools, techniques and technologies that can help equip and empower each farmer.

Jai Shroff, CEO of UPL Limited, said, “We’re reimagining sustainability to see agriculture become climate-positive and farmers empowered with new sources of income. Our partnership with FIFA, who share our commitment to fostering sustainable and inclusive growth, exemplifies the goals of our OpenAg network, which puts collaboration at the heart of progress and sustainability. We look forward to working with FIFA and farmers to positively contribute to farmer livelihoods, the health and productivity of fields, our global food future, and the fight against climate change.”

The Gigaton Carbon Goal pilot phase is already underway with more than 100 000 farmers across 230 000 hectares in Europe, the Americas and Asia, and the initiative aims to cover more than 100 million hectares, the equivalent of 100 million football fields.

This new carbon credit model will support

Finance, Sustainability

Company invests in new technologies to reduce emissions

Evonik Venture Capital has invested in two sustainability funds: Azolla Ventures I and the Chrysalix Venture Capital’s Carbon Neutrality Fund. Both companies are looking into CO2 reduction technologies, with Azolla focused on North America and Chrysalix globally. This is Evonik’s venture capital arm’s first investment using the new €150 million Sustainability Tech Fund. All parties have agreed to not disclose the amount of the investment.

“By working with Azolla Ventures and Chrysalix, we gain an early insight into pioneering technologies for CO2 reduction worldwide. This also helps us to achieve our own sustainability goals,” said Dr Bernhard Mohr, head of Evonik Venture Capital.

The current fund focuses primarily on start-ups in North America whose innovations have the potential to make a significant contribution to reducing emissions.

Evonik has set a goal of significantly reducing the direct and indirect greenhouse gas emissions of its own production and processing operations by 2030. Both Scope 1 and Scope 2 emissions are to be reduced from the current 6.5 million tonnes to 4.9 million tonnes.

The company’s ambitions are strengthened by the new Sustainability Tech Fund. This fund focuses on investments in six technology fields: circular economy, alternative raw materials, future mobility, hydrogen economy, renewable carbon and clean energy. With the Sustainability Tech Fund, the total fund volume of Evonik Venture Capital increases to €400 million.

Company invests in new technologies to reduce

North America, People

Boeck has been a key part of the Syngenta Seeds business that has completed a significant turnaround and return to profitability

Syngenta has recently announced the appointment of Eric Boeck as Regional Director, North America Seeds, responsible for leading the field crops strategy for the region.

Boeck most recently served as the Head of Marketing for Syngenta Seeds in North America. Joining the company in 2018, he brought more than 20 years of agribusiness experience to Syngenta from past roles in sales, marketing and digital agriculture at DuPont Pioneer/Corteva Agriscience. Boeck has been a key part of the Syngenta Seeds business that has completed a significant turnaround and return to profitability. Seed advisors and agriculture retailers played a key supporting role in driving the turnaround in the US, and Boeck’s team was instrumental in working closely with these groups over the past four years.

The move is part of a series of recently announced leadership transition plans, which include Jeff Rowe, President of Syngenta Seeds, assuming leadership of Syngenta Crop Protection, and Justin Wolfe, the current Regional Director for North America Seeds, becoming the global leader for the Seeds business. These transitions will be effective July 1, 2022.

“It’s not possible to execute the type of turnaround we saw in our Seeds business without focused, committed leadership across the board, and the continuity shown by these leadership moves is further evidence of that,” said Wolfe.

Boeck has been a key part of

Agro Universities

Bayer will fund the university education of sixteen AUW students through the Bayer Scholarship Programme

Asian University for Women (AUW) and Bayer AG have announced that Bayer will fund the university education of sixteen AUW students through the Bayer Scholarship Programme. Bayer is pledging $675,000 to the programme. The scholarships will cover two years of precollegiate study and the first year of AUW’s three-year undergraduate degree programme and will run from August 2022 – to July 2025. Bayer will also provide internships to sixteen AUW students who hold an interest in agribusiness. 

Nine of the sixteen Bayer Scholars will be selected by AUW from the rural farming communities of Bangladesh, and seven will be selected from other smallholder farming communities in South and Southeast Asia. Bayer will amplify the scholarship programme and actively promote this education opportunity through its field force network in South Asia, which serves as a trusted partner to many rural farming families. Recipients of this scholarship are selected from rural farming communities based on their academic excellence, demonstrated leadership, outrage at injustice, and drive to create change in their communities and beyond. 

Monika Lessl, Senior Vice President Corporate R&D and Social Innovation and Executive Director of Bayer Foundation: “At Bayer, we are constantly working towards creating a world where everyone has access to essential services – be it health, nutrition or education. A key step in achieving this goal, is to bridge the gender gap in education. Hence, we are delighted to support women students pursuing higher education at the Asian University for women through our scholarship program and hope that these women students will not only transform their lives through education but also serve as a beacon of hope to other women students in their communities.” 

With limited social networks and other services, as well as an absence of economic empowerment opportunities, the cycle of entrapment in traditional mores becomes inescapable. It is this cycle that Bayer and AUW would like to break through their ground breaking partnership. The Bayer Scholarship Programme will foster women’s empowerment among marginalised, rural agricultural communities in Bangladesh and across Asia.  

Bayer will fund the university education of

Finance

The company has reported total income of Rs 100.34 crores during the period ended December 31, 2021

Hyderabad-based Bhagiradha Chemicals & Industries has recently posted net profit of Rs 8.91 crores for the period ended December 31, 2021 as against net profit of Rs 8.34 crores for the period ended September 30, 2021.

For the third quarter, the company reported sales was Rs 1,001.07 million compared to Rs 692.52 million a year ago. Revenue was Rs 1,003.47 million compared to Rs 694.07 million a year ago. Net income was Rs 89.2 million compared to Rs 70.92 million a year ago.

For the 9 months ended December 31, 2021, Bhagiradha Chemicals has reported total income of Rs 298.45 crores as compared to Rs 220.97 crores.

Furthermore, the company has posted net profit of Rs 24.86 crores for the 9 months period as against net profit of Rs 16.00 crores.

The company has reported total income of