The One Planet Business for Biodiversity (OP2B) coalition, one of the first private sector regenerative agriculture initiatives, convened by the World Business Council for Sustainable Development (WBCSD), reached a major impact milestones as it celebrates its five-year anniversary in September. Comprising of 26 corporate members with a collective market value of $893 billion, OP2B has worked since its launch in 2019 to incentivize regenerative agriculture, a holistic approach to transform agricultural models, taking environmental and socioeconomic dimensions into account.

"Regenerative agriculture is absolutely critical to transforming the food system. We must put farmers at the center of everything we do, adapting to the diverse realities of the geographies where we operate, while embracing technology and fostering innovative public-private mechanisms to accelerate the change. In doing so, we are creating a model which is actually more economically sustainable for the farmers," stated Antoine de Saint-Affrique, Danone chief executive officer and OP2B co-chair.

Peter Bakker, president and CEO of the World Business Council for Sustainable Development and OP2B co-chair, said collaboration is key to transforming agricultural systems. “Regenerative agriculture offers a solution to the growing challenges farmers and businesses face, but we need coordinated action across the value chain to make it a reality. At OP2B, we are focused on lifting the barriers to accelerate the transition to regenerative agriculture. This is the path for a regenerative and equitable agricultural system producing quality raw material and nutritious food for all."

The five-year progress report released today, “OP2B Five-Year Report: Demonstrating progress on regenerative agriculture,” examines efforts by 19 value chain actors of the 26 OP2B members. According to the report, investments in transition finance for regenerative agriculture totaled US $3.6 billion between 2019 and 2023. The coalition aims to impact over 12 million hectares of land, equivalent to over 29 million acres, by 2030.

With the increasing frequency of extreme weather events (such as droughts, flooding and extreme heat), combined with the immense loss of biodiversity due to agriculture over the past several decades, regenerative farming practices can be a powerful tool for farmers to adapt to a changing climate and increase profitability. Regenerative farming holds a positive business case for farmers, increasing farm profitability and the resilience of farming communities. It can restore degraded agricultural soils and positively impact climate, biodiversity and water.

“I’m seeing firsthand the opportunities to use regenerative agriculture practices to be more profitable and resilient,” said Meghan Sapp, farmer and one of the founders of the European Alliance for Regenerative Agriculture (EARA). “We’ve shown the world that not only is regenerative agriculture better for ecosystem management and resiliency in a changing climate, but it actually is far more profitable than standard farming practices.” EARA is a key stakeholder and Advocacy partner of OP2B.

The potential for transformation remains largely untapped, with a funding gap of more than $300 billion annually. By committing to regenerative agriculture, businesses can lead the way in cultivating a resilient net-zero agricultural system while benefiting biodiversity, economy and rural communities worldwide.

“Scaling up regenerative agriculture is one of the most critical initiatives for Nestlé, the agriculture and food industry because it contributes to securing food for the future. Regenerative agriculture has proven to help farms to be more resilient against extreme weather conditions,” said Antonia Wanner, group head of ESG Strategy and Deployment at Nestlé.

Over the next few years, the OP2B coalition will focus on unlocking three strategic levers to scale up regenerative agriculture: harmonizing measurement, fostering collaborations to support farmers’ transition, and advocating for policies that create an enabling environment.