Accelerating transformation of the food and agriculture industry

Increasing attention to agricultural emissions is driving innovation in mitigation practices and monitoring. Increasing frequency and intensity of droughts, floods and extreme events are requiring greater consideration of adaptation, ranging from small-scale improvements to a holistic relocation of entire industries.

Changes we are seeing

There are growing global food security and supply concerns given ongoing issues of droughts, floods and other extreme events as well as supply chain disruptions internationally and locally.

  • Consumer expectations for food availability and understanding of provenance/source is changing.

Global attention and awareness of agricultural emissions is increasing alongside increased scrutiny of agricultural resource use.

  • International (e.g. European Union) regulations are mandating low-emissions practices in the agricultural sector and are likely to influence global agricultural practices
  • Nitrous oxide (NOx) accounts for 5–7% of greenhouse gases, prompting increasing calls for better management of fertiliser application as well as greater efficiency in NOx capture1

There is increasing interest in plant based and bioengineered proteins (including microbial proteins).

  • Sales of plant-based meats could reach $3 billion in Australia by 20302.

Adaptation practices are rapidly evolving across agricultural industries and range from smaller-scale innovations to larger diversification.

  • Ongoing transformation of fertilisers and other ag-chemicals away from fossil sources.
  • Changing climatic conditions are encouraging some agricultural industries to adapt practices, adopt new varieties and expand within national borders. Other international examples are looking at overseas relocation options.
  • Increasing use of smart farming tech – robots, sensors and connected machinery for feedback and verification (including greenhouse gas emissions). AI is expected to unlock $127 billion a year in value in the global food sector by 20303.
  • Vertical farming and agri-tech is seeing increasing investment globally estimated at $7.8 billion in 20214.