Danone North America Directs Millions to Regenerative Agriculture
January 29 2020 - 12:13PM
Dow Jones News
By Dieter Holger
Danone SA (DANOY) said Wednesday that it will use $3 million in
federal funds, alongside a $20 million deal with rePlant Capital,
to help North American farmers apply organic or regenerative
agriculture, a practice that enhances the health of soil.
The $3 million investment, in partnership with the
government-backed National Fish and Wildlife Foundation, will help
farmers, including suppliers of Danone North America, using public
funds from the U.S. Department of Agriculture's Natural Resources
Conservation Service, the French food company said.
Danone said it will first start working with farmers in Kansas
and Ohio before expanding to other states, including Texas, Idaho
and Utah. It builds on Danone's 2018 pledge to invest $6 million in
soil health research.
The company also said that rePlant Capital, an impact investor
focused on sustainable agriculture, will invest up to $20 million
over the next several years to help Danone North America's farmers
pay for regenerative or organic farming.
"Providing these loans mitigates the financial stress that
transitioning to regenerative and organic farming practices places
on our farmers and allows them to focus their energy on driving
sustainable agriculture on their farms," said Mariano Lozano, chief
executive of Danone North America, in prepared remarks.
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
January 29, 2020 11:58 ET (16:58 GMT)
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