Agriculture Criteria



- First draft of Agriculture Background Paper available in October 2019. 


February 2019: TWG Launch    
April 2019: IWG Launch
October 2019: Public Consultation
January 2020: Criteria Launch

Any questions on Agriculture?

Please contact Isobel Edwards/Katie House: /

Why develop eligibility Criteria for agriculture-related low carbon investments?

It is estimated that up to 80 percent of deforestation is the result of agricultural expansion. The food supply chain contributes 19-29% of global GHG emissions. Yet the majority of food system emissions occur at the farm level (80%–86%); the remainder comes from pre-farmgate production and post-farmgate activities such as processing, packaging, refrigeration, transport, retail, catering, domestic food management and waste disposal (Vermeulen et al., 2012).

Climate change poses significant risks to agriculture ecosystems with high potential to negatively affect productive uses of agriculture resources and related socio-economic systems.

In 2017, agriculture and forestry made up a small proportion of the overall climate-aligned bond universe, accounting for just 1% of climate bond value. By 2018, despite the need for more finance to address the climate change in these sectors, investment remained small.

Guidance, such as this Agriculture Criteria, is likely to catalyse investment and can be utilised by governments in setting regulation or recommendations for decarbonising the sector.

The Agriculture Technical Working Group (TWG) 

Development of the Agriculture Criteria originally began through development of Land Use Criteria. However, it was decided that to improve the ambition of each the Criteria, the land sector should be tackled by several separate criteria. Development of the Agriculture Criteria followed. The scope includes cropland, grassland, livestock and restoration and controlled environment.

To create the Agriculture Criteria, we convened a Technical Working Group (TWG) and an Industry Working Group (IWG) with representatives from investors, public entities, environmental and agricultural NGOs and international policy bodies from around the world.

TWG Lead Specialist

Lini Wollenberg - CGIAR



Amy Dickie - California Environmental Associates

Aarti Ramachandran/Iman Effendi - FAIRR Initiative

Anna Lorant - Institute for European Environmental Policy

Andrew Gazal - ESG Responsible Investments

Bob Scholes - Wits University Johannesburg

Ankita Shukla - Sustainanalytics

Christine Negra - Versant Vision

Aurélie Choiral Gupta - Credit Suisse

Clare Stirling - CIMMYT Brian Kernohan - Hancock Natural Resource Group

Debbie Reed - Ecosystem Services Markets Consortium 

Chang He - CECEP

Gerard Rijk - Profundo

Francisco Avendano - Climate Policy IFC

Gillian Galford - Gund Institute for Environment

Gustavo Pimentel/Débora Masullo de Goes - Sitawi

Greg Fishbein - The Nature Conservancy

Hamish McDonald - NaturesCoin

Jonathan Hillier - University of Edinburgh

Jacob Michaelsen - Nordea

Kim Schumacher - University of Oxford

Mareike Hussels - SAIL Ventures

Ngonidzashe Chirinda - CGIAR

Maria De Filippo - Affirmative Investment Management 

Pablo Fernandez de Mello e Souza - BVRio

Morgan Jones/John Kazer - Carbon Trust

Pedro Luiz Oliveira de Almeida Machado - Brazilian Agriculture Research Corporation (Embrapa)

Pedro Moura Costa - SIM/Facility

Raylene Watson - ebsadvisory

Pip Best - E&Y

Sam Schiller - Kellogg School of Management

Robert Rosenberg/Mélanie Comble - ISS ESG

Stephen Donofrio - Forest Trends

Roberto Strumpf - Pangea Capital

Tanja Havemann - Clarmondial AG

Rosemarie Thijssens - Rabobank

Timm Tennigkeit - UNIQUE



How does this fit in with the work being done by the TEG?

The European Commission’s Technical Expert Group (TEG) on Sustainable Finance is also developing guidance for sustainable finance in agriculture. Through our CEO, Sean Kidney, we are contributing to this and several of our TWG and IWG members also straddle both efforts. As both pieces of work develop we’ll work to ensure they complement each other wherever possible.