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Financial incentives help Canadian farmers adopt sustainable farming practices

How growers are getting the support they need to switch to regenerative agriculture

Things are changing at Riverview Farms, the Hartland, NB, farm owned and operated by Shawn Paget.

Riverview is one of more than 65 New Brunswick farms that grows potatoes destined to be turned into French fries, hash browns, potato patties, Smiles and other potato products for McCain Foods. And thanks to training and support provided by the company, Mr. Paget, a third-generation farmer, is adopting regenerative farming practices that are saving money – and building soil health.

Growers like Mr. Paget are up against increasing challenges, from climate change to input costs and regulatory uncertainty. Mr. Paget describes that by switching over to regenerative agriculture practices, he’s been able to reduce the use of fertilizer and reduce tillage on his crops. This has not only led to improved yields and quality but with McCain’s help, Mr. Paget has been able to reduce his costs and labour, which has made Riverview more sustainable. These methods are not only efficient and profitable, but are also reducing the farm’s carbon footprint.

“It really reduces our stress levels, which makes things easier for my family,” Mr. Paget says.

Regenerative agriculture is an ecosystem-based approach to farming that increases farm resilience by enhancing soil health, protecting biodiversity, and improving and reducing dependency on synthetic materials. The goal? To mitigate on-farm climate impact, minimize carbon emissions, build soil health and resilience, and improve the quality and yield of the potato crop.

“Our roots are on the farm, and that is where our heart remains,” says Charlie Angelakos, vice president of global external affairs and sustainability for McCain.

That commitment to the farm is why the company has partnered with Farm Credit Canada (FCC) to introduce a program that offers a scale of increasing incentives as farmers move up McCain’s Regenerative Agriculture Framework, which is “essentially our roadmap guiding the progression to regenerative farming,” says Mr. Angelakos.

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The Investment Opportunities of Industrial Hemp

Video: The Investment Opportunities of Industrial Hemp

The fledgling U.S. hemp industry is decades behind countries like Canada, France and China, but according to impact investor and this week’s podcast guest, Pierre Berard, it could flourish into a $2.2 billion industry by 2030 and create thousands of jobs.

To reach its potential, what the hemp industry needs most right now, Berard said, is capital investment.

Last month, Berard published a report titled “Seeing the U.S. Industrial Hemp Opportunity — A Pioneering Venture for Investors and Corporations Driven by Environmental, Social and Financial Concerns” in which he lays out the case for investment.

It’s as if Berard, with this report, is waving a giant flag, trying to attract the eyes of investors, saying, “Look over here. Look at all this opportunity.”

Berard likens the burgeoning American hemp industry to a developing country.

“There is no capital. People don’t want to finance. This is too risky. And I was like, OK, this sounds like something for me,” he said.

As an impact investor who manages funds specializing in agro-processing companies, Berard now has his sights set on the U.S. hemp industry, which he believes has great economic value as well as social and environmental benefits.

He spent many years developing investment in the agriculture infrastructure of developing countries in Latin America and Africa, and said the hemp industry feels similar.

“It is very nascent and it is a very fragmented sector. You have pioneers and trailblazers inventing or reinventing the field after 80 years of prohibition,” he said. “So I feel very familiar with this context.”

On this week’s hemp podcast, Berard talks about the report and the opportunities available to investors in the feed, fiber and food sectors of the hemp industry.

Building an industry around an agricultural commodity takes time, he said. According to the report, “The soybean industry took about 50 years to become firmly established, from the first USDA imports in 1898 to the U.S. being the top worldwide producer in the 1950s.”

Berard has a plan to accelerate the growth of the hemp industry and sees a four-pillar approach to attract investment.

First, he said, the foundation of the industry is the relationship between farmers and processors at the local level.

Second, he said the industry needs what he calls a “federating body” that will represent it, foster markets and innovations, and reduce risk for its members and investors.

The third pillar is “collaboration with corporations that aim to secure or diversify their supply chains with sustainable products and enhance their ESG credentials. This will be key to funding the industry and creating markets,” he said.

The fourth pillar is investment. Lots of it. Over $1.6 billion over seven years. This money will come from government, corporations, individual investors, and philanthropic donors.

The 75-page report goes into detail about the hemp industry, its environmental and social impact, and the opportunities available to investors.

Read the report here: Seeing the U.S. Industrial Hemp Opportunity

Also on this episode, we check in with hemp and bison farmer Herb Grove from Brush Mountain Bison in Centre County, PA, where he grew 50 acres of hemp grain. We’ll hear about harvest and dry down and crushing the seed for oil and cake.