PhosAgro and UN FAO Expand Cooperation on Protecting the Planet's Soil

Rhea-AI Summary

PhosAgro and the UN FAO have extended their Cooperation Agreement until 2023, focusing on global soil protection and sustainable agriculture. Aiming to address soil contamination, PhosAgro will contribute an additional USD 1.2 million to the initiative, raising its total contribution to USD 2.4 million.

The partnership seeks to educate farmers through the Soils Doctors project and join the FAO's RECSOIL initiative to manage organic soil carbon. PhosAgro emphasizes the eco-efficiency of its fertilizers, which have low cadmium content, supporting food security across 102 countries.

Positive

• PhosAgro extends cooperation with UN FAO until 2023.
• Total funding for soil protection initiative reaches USD 2.4 million.
• Plan to enhance education on sustainable farming practices through Soils Doctors project.
• Joining FAO's RECSOIL initiative supports climate change efforts.
• PhosAgro fertilizers have low cadmium levels, promoting soil and food safety.

Negative

• None.

ROME, Dec. 9, 2021 /PRNewswire/ -- PhosAgro and the Food and Agriculture Organisation of the United Nations (UN FAO) announced the expansion of their cooperation in global soil protection.

This agreement was reached following a meeting between PhosAgro CEO Andrey Guryev and Director General of the UN FAO Qu Dongyu at the organisation's headquarters in Rome.

The parties decided to extend their Cooperation Agreement until 2023 as part of a collaborative endeavour to enhance sustainable agriculture. To date, the FAO and PhosAgro have built a global network of 760 soil laboratories that span 150 countries. The parties are also developing the joint Soils Doctors project, which aims to educate farmers on efficient and environmentally friendly ways to manage land, as well as promote the use of best practices in compliance with the International Code of Conduct for Fertilizer Management.

For their new stage of cooperation, the FAO and PhosAgro plan to focus on solving the problem of soil contamination, including heavy metal pollution. Over the next two years, PhosAgro will provide another USD 1.2 million in funding for the initiative. As a result, by 2023, PhosAgro's total contribution to the project will reach USD 2.4 million.

In addition, starting next year, PhosAgro will join the FAO RECSOIL Global Soil Partnership (GSP) initiative, which focuses on organic soil carbon management and sequestration, critical in the fight against climate change.

PhosAgro also contributed USD 300,000 in funding for establishing a 'Russia Room' for official events at FAO headquarters. This initiative will showcase Russia's rising engagement in FAO activities, as well as the country's standing as a UN system partner in the field of sustainable development.

According to FAO CEO Qu Dongyu, soil health is the cornerstone for providing humanity with food and ecosystem services. Sustainable soil management is a key component of FAO's work to reform agri-food chains since it addresses people's requirements for safe and nutritious food. The relationship with PhosAgro, Qu Dongyu noted, will enable the organisation to scale up its efforts to improve soil health at all levels.

"Our collaboration with the FAO, which has become the gold standard for concentrating efforts in the fight against soil degradation around the world, will take on a new dimension: the implementation of solutions to eradicate hotspots of heavy metal pollution in soil. It is important that PhosAgro fertilizers are unique in that they are eco-efficient and do not contain hazardous levels of cadmium that could be harmful to human and soil health, meaning the Company contributes to solving soil pollution while ensuring food security in Russia and 102 other countries around the world," PhosAgro CEO Andrey Guryev commented on extending the partnership with the UN FAO.

Andrey Guryev recalled that in 2018, PhosAgro became the first Russian company ever to be selected to implement a global soil protection initiative: "This is a great honour and responsibility for us. This year we are celebrating our 20th anniversary. Throughout these 20 years, aspects of sustainable development have been the company's key priority. We embrace the UN FAO attitude and seek to create industry-leading quality and safety standards by offering our eco-efficient products to consumers on all inhabited continents."

Contact us

PJSC PhosAgro
Andrey Serov, Head of the Investor Relations Department
+7 495 231 2747 ext. 2183
ir@phosagro.ru

Timur Belov, Press Officer
+7 495 231 2747 ext. 2652
pr@phosagro.ru

EM
Sam VanDerlip
vanderlip@em-comms.com 
+44 207 002 7859

About Us

PhosAgro (www.phosagro.ru) is one of the world's leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P₂O₅ content of 39% and higher. PhosAgro's environmentally friendly fertilizers stand out for their high efficiency, and they do not lead to the contamination of soils with heavy metals.

The Company is the largest phosphate-based fertilizer producer in Europe (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of high-grade phosphate rock with a P₂O₅ content of 39%, a top-three producer of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia, and Russia's only producer of nepheline concentrate (according to the RAFP).

PhosAgro's main products include phosphate rock, more than 50 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 102 countries spanning all of the world's inhabited continents. The Company's priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro's shares are traded on the Moscow Exchange, and global depositary receipts (GDRs) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.

More information about PhosAgro can be found on the website: www.phosagro.ru.

View original content:https://www.prnewswire.com/news-releases/phosagro-and-un-fao-expand-cooperation-on-protecting-the-planets-soil-301441528.html

SOURCE PhosAgro

FAQ

What is the new funding amount PhosAgro is contributing to the FAO for soil protection?

PhosAgro is contributing an additional USD 1.2 million, raising the total funding to USD 2.4 million.

How long will PhosAgro's cooperation agreement with the UN FAO last?

The cooperation agreement has been extended until 2023.

What initiative will PhosAgro join as part of its partnership with FAO?

PhosAgro will join the FAO's RECSOIL Global Soil Partnership initiative.

How many soil laboratories has PhosAgro helped establish through its cooperation with FAO?

PhosAgro and FAO have established a network of 760 soil laboratories in 150 countries.

What are the environmental benefits of PhosAgro's fertilizers?

PhosAgro's fertilizers are eco-efficient and do not contain hazardous levels of cadmium.