UPL launches "Gigaton Carbon Goal" in Europe, bringing mission to reduce a billion tonnes of atmospheric carbon dioxide to farmers

Date:07-08-2022

UPL Ltd. (NSE: UPL & BSE: 512070 LSE: UPLL) (‘UPL’) a global provider of sustainable agricultural solutions, has announced the European launch of the Gigaton Carbon Goal, a new series of global initiatives to sequester one gigaton (one billion tons) of atmospheric carbon dioxide by 2040.

Working with recognised carbon certification bodies, UPL will enable agri-ecosystems to create, implement and validate carbon emission and capture protocols. This will generate carbon credits that directly benefit farmers with the potential for additional revenue streams. This new carbon credit model will support farmers as they expand sustainable and regenerative practices, directly benefitting the environment and positioning agriculture as a climate-positive industry.

UPL will mobilise its resources, experience, and global network to identify, invest in, and supply the tools, techniques and technologies that can help equip and empower each farmer. UPL is also partnering with the FIFA Foundation to harness the universal language of football to instill a better understanding of the vital role played by agriculture in sustainable development in audiences around the world.

Launched first in Latin America in 2021 as ‘The Gigaton Challenge’, the now Gigaton Carbon Goal’s European launch was hosted by Jai Shroff, Global CEO of UPL, alongside Mauricio Macri, Executive Chairman of the FIFA Foundation.

Jai Shroff, CEO of UPL Ltd, said, "We’re reimagining sustainability to see agriculture become climate-positive and farmers empowered with new sources of income. Our partnership with FIFA, who share our commitment to fostering sustainable and inclusive growth, exemplifies the goals of our OpenAg^® network, which puts collaboration at the heart of progress and sustainability. We look forward to working with FIFA and farmers to positively contribute to farmer livelihoods, the health and productivity of fields, our global food future, and the fight against climate change.

Mauricio Macri said: "As we seek to address climate change through decarbonization and limiting greenhouse gas emissions, we believe that there is no force greater, and no force more unappreciated, than agriculture. We are proud to work with our partner UPL as we lead a new global movement that seeks to position sustainable agriculture as the surest and most accessible route to net zero.″

The Gigaton Carbon Goal pilot phase is already underway with more than 100 000 farmers across 230 000 hectares in Europe, the Americas and Asia, and the initiative aims to cover more than 100 million hectares.