Initiative will reduce atmospheric CO2 by 1 billion tons and create a new carbon market for agriculture.
UPL Ltd. in collaboration with the FIFA Foundation has launched the second public launch of a new series of initiatives to be implemented around the world that will drive sustainable methods to reduce atmospheric carbon dioxide equivalent by 1 Gigatonne by 2040.
At an event held in Santiago, attended by Vikram Shroff (Director of UPL Ltd.) and Mauricio Macri (Executive Chairman of the FIFA Foundation), and assisted by Youri Djorkaeff (CEO of the FIFA Foundation), UPL has launched “The Gigaton Challenge”, which brings together sustainable food production and education to tackle climate change.
This challenge will create new carbon credits to encourage and support farmers in adopting sustainable and regenerative practices. One Gigaton represents approximately three years of CO2 emissions from Chile and its neighboring countries Argentina, Peru and Bolivia.
UPL will work with trusted and recognized carbon certification organizations that will enable agricultural ecosystems to create, implement and validate carbon emission and capture protocols that will generate carbon credits from which farmers will directly benefit. This initiative has the potential to generate US$15 billion in additional revenue for agricultural ecosystems around the world.
Between 2021 and 2024, the Gigaton Challenge will develop a first pilot phase in Brazil, Argentina, Chile, India, the USA and some European countries; this launch in Chile opens the way for the expansion phase in Latin America and will continue from 2025 to 2040 throughout the world. In its first phase, the project will add 1 million hectares. While, in the expansion phase, the Gigaton Challenge will eventually impact more than 100 million hectares of farmland around the world, equivalent to 100 million football fields.
Speaking at the launch of the Gigaton Challenge, FIFA Foundation CEO Youri Djorkaeff said: “It is great to see how UPL is using its power to bring about positive social change in the areas of community development, education, health, equality and inclusion, dialogue and peace. As part of our Memorandum of Understanding, together we will seek to join forces and connect networks that will build sustainable development around the world and help us achieve the shared goal of a greener and fairer future.”
Jai Shroff, Global CEO of UPL Ltd., said: “The future of agriculture must be climate positive, and recarbonising the world’s soils not only brings immediate environmental benefits, but also offers a new source of income for farmers. UPL’s OpenAg™ purpose puts collaboration at the heart of progress and if there’s one thing we can learn from football it’s the power of team spirit to inspire extraordinary change and achieve extraordinary goals.”
Vikram Shroff, Director of UPL Ltd., also commented on the matter: “We are very excited to find a community that shares our dream of building a more sustainable and fair future. We have set ourselves the ambitious goal of reducing one billion tons of carbon dioxide from the atmosphere and agriculture is the way to make a difference. We thank the FIFA Foundation for providing its support to enable more than one hundred million agricultural producers to sequester carbon and care for the soil while working to feed the world.”
Mauricio Macri, Executive Director of the FIFA Foundation, highlighted the joint work between both entities: “In 2020, the FIFA Foundation joined forces with UPL to tackle certain sustainable development challenges. Our association uses football as a platform to raise awareness and take action on key social and environmental issues. The programme aims to reduce CO2 emissions by at least one gigatonne – 10% of the international commitment to keep global warming below 1.5 C° by 2030. The programme will also reward smallholder farmers in developing countries for adopting regenerative agriculture practices such as efficient water use. At the FIFA Foundation, we are excited to work with the international community to ensure a climate-safe future for our communities and ecosystems through sustainable development, advocacy and outreach.”", concluded the Director.
