WEBVTT

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We're joined by Jason and Sonya.
Welcome. Jason, tell us, what

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are the techniques and
technologies that are really

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making the food industry more
sustainable and what are you

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looking at Land O' Lakes? Yeah.
So we look across the entire ag

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ecosystem. We work in crop
inputs, we work in animal

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nutrition, and we work as a
consumer goods company in the

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butter and cheese part of the
food system. But most

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importantly, we have a platform
called Truterra, which connects

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all of the data across
agriculture in

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order to give visibility to
where there are opportunities to

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both improve regenerative ag as
well as take credit for the

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changes that you've made. Things
like how you till crops, the

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inputs and crops, soil health in
seed that you put into your your

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crop lands, and then ultimately
how you harvest and move that

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through the food system. So a
big part of the change in the

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culture that's happening with
regenerative ag right now is

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being data-driven and being
driven by the quality of output,

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not just the grain itself.

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So that's a huge shift for
farmers to really reimagine

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their role in creating
healthier, more productive,

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higher yield crops with fewer
inputs. And regenerative ag is

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really the only set of
practices, and there are many,

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many different ways to do this
that really help to elevate

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health of soil, health of crops,
and health of the system in a

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singular way.

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And Sonya, what is the advice
that you would give to leaders

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in the agriculture and food
industries if they wanted to

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transform their businesses to
make them more sustainable?     

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 - Absolutely. So the advice

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that I would give them and do
give them is to really focus on

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value creation. So you
absolutely need a sustainability

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strategy. But at the end of the
day, what we need are positive

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business cases showing the
economic and financial value

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that's being created for
farmers, for companies, and for

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governments in order to affect
the change that

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we need to support our climate
goals.                          

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                       - And
does investing in sustainability

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necessarily mean that the prices
for consumers will have to go

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up?            - No, it doesn't.
And this is a debate that we

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have all the time. Should prices
go up as we spend more to

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transition into regenerative ag?
I think one of the fundamental

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challenges that we have to solve
as an industry, both as CPG and

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food companies, but also as
suppliers like myself and  input

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providers like the seed
companies, is trying to figure

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out how to fund the transition.

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So that we don't see price
inflation as a function of

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changing the behavior of how we
grow our inputs. And a super

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fundamental component of making
sustainability work and drive

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the practice changes at the farm
level that actually allow us to

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transition into a new future.

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Sonya, while that transitioning
is happening, should consumers

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get used to the idea of paying

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for an even more sustainable
environmental future?

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So look, I think there are
places where prices might need

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to go up because we're
internalizing a cost that's been

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borne by society. But to be
honest, in most areas, that's

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not actually going to fly with
consumers. When we look at the

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research, they're not
necessarily willing to pay more

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today. And so we need to be
practical about how are there

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ways that we can use technology
and innovations and new business

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models in order to drive down
what are increasing costs over

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time, especially in food with
the impacts of climate change.

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But also think about who needs
to pay. So

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for instance, globally, there's
over $600 billion in subsidies

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that go to food and agriculture.
Are there ways to make those

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subsidies more effective and to
support our climate goals?      

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         - So not necessarily

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bad news for the consumer, for
which I think we're all

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grateful. Thank you, Jason and
Sonya.                          

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                       - Thank
you.

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