Unilever, alongside financial firms AXA and Tikehau Capital have set an aim to invest €100 million (£82.2m) each into projects that promote regenerative farming processes.
This fund will invest directly into projects that improve carbon removal using soils, promote afforestation and biodiversity, water preservation and boost resilient yields from farming – to both create healthy produce and a consistent source of income for farmers.
The three partners hope that other participants will join, with an overall aim for the fund to reach €1 billion (£852bn).
Tikehau Capital will directly manage the fund, ensuring the correct projects receive investment.
Unilever committed in 2020 to invest €1 billion (£852bn) into climate-based initiatives, Tikehau Capital aims to have €5 billion (£4.2bn) of climate-friendly assets under management by 2025, with AXA aiming for €26 billion (£22.1bn) invested in green assets by 2023.
The partners’ statement reads: “We believe that the required transition in agricultural practices will only be made possible by a new, more systemic form of collaboration between stakeholders across the value chain, including farmers, producers, manufacturers, retailers, technology providers and financial investors, which this fund will seek to bring to life.”