In the bustling city of Singapore, amidst the convergence of global minds at the Singapore International Agri-Food Week, a stark revelation surfaced, highlighting a significant gap in the regional approach to climate change. As the Asia-Pacific AgriFoodTech Investment report indicated a downturn in investment levels and event attendance, a deeper concern emerged regarding the lack of strategic planning for emissions reduction within the agricultural sector in Asia.
### The Asia Food Challenge Report
A new report, The Asia Food Challenge: Decarbonizing the Agri-Food Value Chain in Asia, co-authored by Rabobank, PwC, Temasek, and Terrascope, has shed light on the disproportionate contribution of greenhouse gas emissions from the agrifood industry in Southeast and South Asia. The findings are alarming: up to 50% of all emissions in Southeast Asia and 45% in South Asia are attributed to agrifood, primarily from on-farm activities, dwarfing the global average of one-third.
The report offers a suite of solutions to meet the 2050 net zero targets, emphasizing the cost-effectiveness of targeting agrifood emissions over the energy sector. The needed investment to slash emissions by 840 megatonnes by 2030 is threefold cheaper in agrifood than in energy. However, while the report identifies key stakeholders and potential actions, the call to governments to develop a roadmap for decarbonization remains, as noted by Green Queen’s Sonalie Figuerias, somewhat nebulous.
### A Missed Opportunity in Agrifood
Anuj Maheshwari, managing director of Temasek and head of agrifood, candidly acknowledged the oversight of agrifood in governmental agendas. Methane emissions, a significant byproduct of agriculture, particularly from rice production, are being omitted from targets. Maheshwari’s acknowledgement that the focus has been predominantly on the energy sector, while agrifood remains an afterthought, underscores a critical misalignment in policy and practice.
### Singapore’s Pioneering Efforts
Singapore’s government has been a proponent of the agrifood industry, from sanctioning the world’s first cultivated meat product to implementing grants for startups and investors. These efforts, juxtaposed with the lack of a broader regional strategy for agrifood emissions, present a paradox. Although food security is a paramount concern for Singapore, given its reliance on imports, the failure to link it with climate change initiatives is a myopic oversight. The innovations proposed in the report not only address emissions but are also climate-adaptive, potentially bolstering food security in the face of environmental changes.
### The Road Ahead
This gap in policy and focus presents a challenge for agrifood activists, entrepreneurs, and investors. The industry, still in its infancy compared to sectors like fintech or EVs, struggles to amplify its collective voice to influence governmental agendas. Innovation in agrifood, vital for both climate mitigation and adaptation, must not be contingent on government support alone, but the absence of targeted focus from policymakers remains a significant hurdle.
As the journey continues, the upcoming COP28 in Dubai and the new World AgriTech Innovation Summit for The Middle East, Africa, and South Asia will provide fresh opportunities to address these issues. The intersection of climate change and food security will undoubtedly be a focal point, as stakeholders strive to ensure that agrifood receives the attention and investment it critically needs to shape a sustainable future for the region and beyond.