2020 Global Food Security Index Shows Overall Decline in Food Security
The Economist Intelligence Unit (EIU) released the ninth annual Global Food Security Index (GFSI), sponsored by Corteva (NYSE: CTVA), revealing a decline in global food security for the second consecutive year. The GFSI measures food security across 113 countries based on affordability, availability, quality and safety, and natural resources and resilience. The new methodology emphasizes climate-risk management’s role in food security. Notably, North America leads in food security, while Finland ranks first this year, with the U.S. at 11th. Corteva aims to enhance agricultural resilience amid climate challenges.
- Corteva's sponsorship of the GFSI reflects its commitment to improving global food security.
- The introduction of 'Natural Resources and Resilience' into the GFSI methodology highlights Corteva's focus on climate resilience in agriculture.
- Corteva's innovations in precision agriculture aim to help farmers produce more resilient crops.
- Global food security has declined for the second year in a row, indicating systemic issues.
- The agriculture sector is increasingly vulnerable to climate change, affecting productivity in 49 countries.
- Smallholder farmers face significant income loss due to COVID-19 restrictions, impacting overall agricultural stability.
WILMINGTON, Del., Feb. 23, 2021 /PRNewswire/ -- Today The Economist Intelligence Unit (EIU) released the ninth annual Global Food Security Index (GFSI) sponsored by Corteva (NYSE: CTVA), which measures the underlying drivers of food security in 113 countries, based on the factors of affordability, availability, quality and safety, and natural resources and resilience.
The GFSI considers food security in the context of income and economic inequality, gender inequality, and environmental and natural resources inequality – calling attention to systemic gaps and most recently how COVID-19 exacerbates their impact on food systems. Based on these findings, global food security has decreased for the second year in a row.
"Sponsoring the Global Food Security Index is part of Corteva Agriscience's long-term commitment to growing progress," said James C. Collins, Jr., Chief Executive Officer of Corteva Agriscience. "With food security declining again, we all must heed the urgent call to renew our collective commitment to innovation and collaboration. Our future is only as secure as our food system and agriculture is at the heart of it. Together we must better support global food security."
This year, the GFSI formally includes "Natural Resources and Resilience" as a fourth main category. This addition marks a significant shift in methodology, revealing food systems' resiliency against climate change. The sub-indicators under this category include food import dependency, disaster risk management and projected population growth. The 2020 index also measures gender inequality and inequality-adjusted income as sub-indicators for the first time in its history.
For the third consecutive year, the North America region is leading the world in food security. Europe is a close second, accounting for eight of the top 10 countries. Using the new methodology, Finland tops the list while last year's leader, Singapore, drops down to 19th place. Ireland retains its second rank position, while the United States moves to 11th place.
The new methodology underscores the importance of climate-risk management and its link to food security. "Incorporating the Natural Resources and Resilience category as part of the main index highlights the impact of climate-related factors on food systems and food security" said Pratima Singh, project lead for the Global Food Security Index at The EIU. "It is critical that climate risk becomes a core part of the dialogue on food security. We hope this will drive much-needed action on developing policies that can build a stronger and more sustainable global food system."
Building Resilient Agriculture
The GFSI 2020 shows that rising temperatures and global warming have a direct impact on the agricultural sector and food system. Highly volatile agriculture production in countries like Australia, Norway and Sweden demonstrates the risk that climate change poses to agriculture and food production. The GFSI finds that agricultural production has become more vulnerable in 49 countries compared to the previous index period. While climate change is notably creating new challenges, farmers are still required to anticipate demand for volume of food. With the increasing impact of extreme weather conditions and demand, there is a great need for staple crops that are more tolerant to extreme weather and can thrive with limited water as well as in poor or limited soil.
Corteva is innovating to make crops more resilient, so they can thrive in poor soils and better withstand extreme temperatures, droughts, and new infestations. The company's precision agriculture technology delivers whole-farm solutions, empowering farmers to use data to solve problems in the field. It's all part of helping farmers and building a more secure food system.
Supporting Smart Agriculture
The GFSI 2020 shows creative supply chain solutions powered by new technologies can help alleviate challenges to food security and farmer well-being. A successful mobile technology program can help farmers to anticipate market demands and respond in time, as well as connect them with the right resources, suppliers and markets.
The COVID-19 pandemic has exposed existing vulnerabilities in the global food system. Although the various stakeholders have been quick to respond, the lockdown restrictions, and resulting economic fallout, have had a disproportionate impact on those living below the poverty line with limited, if any, social protections. In the agricultural sector, smallholder farmers, the majority of whom reside in rural areas, have suffered a significant loss of income as lockdowns have prevented market access and interrupted the planting season.
Corteva Agriscience is working with supply chain partners to anticipate shifts in global demand and thus continuing to help ensure a reliable food supply. The company's mobile software puts market data in farmers' hands to enable them to make better business decisions. Corteva's advanced seed breeding methodologies provide the right high-yielding potential products and agronomic advice helps farmers put it on the right hectare, for the right market.
Advancing Sustainable Agriculture
The GFSI shows that sustainable farming is essential to food security and farmer productivity. The index shows that the global food systems have been under strain even before the COVID-19 began to spread, with many countries struggling to increase productivity, adapt to a worsening climate and reduce environmental harm. In 2020, both Australia and the U.S. were impacted by high levels of land degradation, ranking 81st and 63rd respectively on the land degradation indicator. According to the index, Latin America suffering from irregular rainfall and above-average temperatures between June and July 2019 led to a second consecutive year of crop failure in the 'Dry Corridor' spanning Guatemala, Honduras, El Salvador and Nicaragua.
Corteva is driving a more responsible food system, with products and services to produce what our food system demands while conserving resources and sustaining the land. The company's biological solutions give farmers additional tools to address pressures from pests and disease, while helping meet consumer demands.
About Corteva Agriscience
Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.
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