FMC Corporation boosts efforts to advance global food security with commitment to Zero Hunger Private Sector Pledge

Rhea-AI Summary

FMC Corporation (NYSE: FMC) commits $30.5 million to UN SDG Zero Hunger by 2030, focusing on smallholder farmers, rural women, and youth in Asia, Africa, and Latin America. The commitment includes investments in climate-smart technologies and digital tools for farmers.

Positive

• FMC's commitment to the Zero Hunger Private Sector Pledge demonstrates a strong dedication to addressing global hunger issues and aligning business initiatives with social responsibility, potentially enhancing the company's reputation and attracting socially conscious investors.

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• None.

Pledge commitment to achieve UN SDG Zero Hunger by 2030 includes the company's initiatives supporting smallholder farmers, rural women and youth, and advancements in climate-smart technologies and digital tools for farmers in Asia, Africa and Latin America

PHILADELPHIA, Aug. 8, 2023 /PRNewswire/ --

FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, today announced a $30.5 million commitment to the Zero Hunger Private Sector Pledge. The Pledge, which emerged from the UN Food Systems Summit Action Track 1, is a call for companies to align their business initiatives and investments with a global movement to end hunger by 2030. FMC's commitment includes the company's ongoing efforts to improve the productivity and incomes of smallholder farmers, provide training and development opportunities for rural women and youth, and advance digital and precision technologies for farmers across Asia, Africa and Latin America.

"We are increasingly concerned by the growing number of people around the world facing acute food insecurity and believe companies like FMC have an obligation to use our resources and expertise to develop real solutions to the hunger crisis," says Julie DiNatale, vice president and chief sustainability officer. "FMC's commitment to the Zero Hunger Private Sector Pledge further aligns our investments with continuous efforts to support farmers, secure the future of food and achieve the goal of Zero Hunger by 2030."  

Key Elements of FMC's Pledge

A substantial part of FMC's commitment is in precision agriculture technology to help farmers adapt to increasingly unpredictable growing conditions, including changes in weather patterns that bring new and evolving pest pressures. Through its pledge, FMC will invest in launching its Arc™ farm intelligence platform on farms across Cameroon, Burkina Faso, South Africa, India, Pakistan, Indonesia, Philippines, Colombia and Mexico through 2030. Arc™ farm intelligence provides farmers real-time data and insights about the scope and scale of pest pressure on their crops, allowing them to proactively treat pest outbreaks before they lead to widespread crop damage. The platform and all necessary field monitoring equipment are provided at no cost to the farmer, which is part of FMC's commitment to ensuring smallholder and historically underserved farmers have access to advanced solutions that improve their productivity and resilience.

Smallholder farmers are at the center of FMC's commitment to the Pledge. They are a vital part of the food production system globally and an increasingly important farmer segment in Asia Pacific, contributing to economic stability and food security within the region. FMC will invest part of its overall commitment in the company's Sustainable, Transformational Initiative toward Development (STRIDE) program, a unique initiative launched in India, Pakistan and the Philippines to increase smallholder farmer access to innovative crop protection technologies and extension services to improve their yields, grow their incomes and enhance their quality of life. The program, which centers on technology, knowledge-building and community engagement, will directly impact more than 175,000 smallholder farmers across the region within a three-year period.

FMC's remaining commitment includes investments in additional partnerships and programs, including a development initiative in Kenya that will train young people to provide extension services to smallholder farmers in the region. Partnering with G.B. Pant University of Agriculture and Technology, FMC is training rural women in India in beekeeping as a sustainable source of income. And in Brazil, FMC's partnership with Traive, a fintech startup company, is helping small- to medium-sized farmers access credit to purchase vital crop inputs.

"We are not going to achieve Zero Hunger by 2030 by doing things the way we've always done them," continues DiNatale. "Innovation is essential. Involvement in this global movement creates new avenues for growth and innovation through opportunities to collaborate on groundbreaking solutions that transform the way food is produced."

About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,600 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn®.

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  This release contains statements that are "forward-looking" and provide other than historical information. FMC has identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "targets" "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases. Such forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within FMC's 2022 Form 10-K filed with the SEC as well as other SEC filings and public communications. FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.

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SOURCE FMC Corporation

FAQ

What is FMC Corporation's commitment to the Zero Hunger Private Sector Pledge?

FMC has committed $30.5 million to the Zero Hunger Private Sector Pledge, focusing on supporting smallholder farmers, rural women, and youth in Asia, Africa, and Latin America, and advancing climate-smart technologies and digital tools for farmers.

What is the purpose of FMC's investment in precision agriculture technology?

FMC's investment in precision agriculture technology aims to help farmers adapt to unpredictable growing conditions and evolving pest pressures, providing real-time data and insights through its Arc™ farm intelligence platform.

How does FMC's commitment to the Zero Hunger Private Sector Pledge benefit smallholder farmers?

FMC's commitment includes initiatives to improve the productivity and incomes of smallholder farmers, potentially leading to positive impacts on their livelihoods and agricultural practices.