NEWS
Development banks fund livestock farms to the tune of US $2.6Bn
products tend to have far higher environmental footprints – in some cases 10 to 100 times higher – than plant-based foods because of the amount of land, water, greenhouse gas-emitting fertilizers and energy needed to produce a portion of protein. The livestock sector uses more than 80% of the world’s farmland, either as pasture or as land producing animal feed. This is very high compared to the 18% that the venture provides in global calories. Last week in a landmark climate report the World Bank committed to working with clients to incentivize sustainable diets and “address drivers of increased meat consumption.” According to media reports, the Bank expressed interest in advocating for a carbon tax on the livestock sector. The report extolled the climate benefits of plant-based meat substitutes.
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ivestock farms around the world are set to receive US $2.6Bn in funding from the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). The funds will go towards pig, poultry and beef farming, dairy and meat processing. This is despite warnings that reducing meat and dairy consumption is essential for tackling the climate crisis. The UK government is a major funder of both banks and its own development bank, CDC, has also invested tens of millions of pounds in the global livestock sector over the past decade, including finance for an industrial-scale beef
feedlot in Ethiopia and poultry companies in Niger and Uganda. Development banks provide medium and long-term capital for the purpose of economic growth in poorer countries. The IFC and EBRD have both publicly committed to tackling man-made climate change and making investment decisions with the climate in mind. Environmental footprints Scientists have repeatedly raised the alarm over the sizeable climate footprint of animal farming and said that unless global consumption is reduced, efforts to tackle climate change will fail. This is because it produces nearly 15% of human-made greenhouse gas emissions. Animal
The dairy sector was the biggest recipient of IFC and EBRD funding, with processing companies and farms receiving more than $1bn. The pig and poultry sectors each received about $500m. This, according to the IFC, is intentional in their move to cater for growing global demand for meat and dairy and that the livestock sector is a key pillar of food security and poverty reduction in many countries. It acknowledged, however, that the sector had a “large environmental and climate footprint”. The European Bank said the meat and dairy sectors represent an important staple in the diets of many people but that livestock projects represent about 1% of its total business investment. Both banks said they are working to reduce the emissions of the projects they fund.
Potato farmers in Kenya suffer losses
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otato farmers in Nakuru, Kenya are counting losses following low prices of the commodity amid high production costs. The output which was high due to ample rains, is proving to be difficult to offset partly due to the impact of Covid-19 as farmers struggle to find markets.
He said through groups, they can also venture into value addition to cut losses.
According to local media reports, farmers are now forced to sell to brokers at low prices. For instance, a 110-kilogramme bag is selling at between US $15.82 (Sh1,700) and US $18.62 (Sh2,000) despite their expectations of about US $27.92 (Sh3,000).
for their produce. As a result, most are selling off their bags for as low as US $7.45 (Sh800) to avoid losses. Areas where potato is grown in bulk in Nakuru County include Mau Narok, Kuresoi North, Kuresoi South, Njoro and Molo.
Previously, a single farmer could could supply 50 bags of potatoes to markets in Eldoret, but after the Covid-19 pandemic, they don’t have market
The Chief Officer of Agriculture Joel Kibet asked farmers to establish groups to help them get markets with better prices.
4 | July - August 2020
The National Potato Council of Kenya reports that potatoes are the second most important food and cash crop after maize in Kenya. The crop is grown by approximately 800,000 smallholder farmers, employ 2.7m actors along the marketing channels and contribute over US $465m to the Kenyan economy. The major irish potato growing regions in Kenya include Nyandarua, Nakuru, Elgeyo Marakwet, Meru, Nyeri, Kiambu, Taita Taveta, Narok, Bomet, Trans Nzoia, Bungoma, Uasin Gishu, West Pokot, Kisii, Nyamira, Kirinyaga, Murang’a, Baringo, Nandi, Laikipia and Kericho.
