16 January 2024, Mumbai: Innoterra, a Swiss Indian tech-driven agri-food platform, has released its 2023 Stakeholder Impact Report that elaborates on the company’s commitment to a sustainable future for both the planet and people. In the report, the company has also delineated its vision to go operationally climate impact neutral by 2040.
Innoterra, a leader in sustainable agriculture, aims to transform India’s food ecosystem, generating value for emerging economies. Around a decade ago, Innoterra set out to leverage technology to create integrated agri-food businesses in India. Today, Innoterra’s B2B marketplace, Farmlink, connects food system participants, empowering farmers and enabling direct sales for retailers. Operating on a demand-driven model, this open-architecture marketplace facilitates direct sales. Innoterra also has deep experience in working with banana cultivators to grow export quality bananas has helped in creating sustainable value for all stakeholders.
In a dynamic year marked by the intensifying impacts of climate change on agriculture, Innoterra has consistently worked towards its ESG focus areas and delivered results. The report sums up the achievements of the year, while also sharing the vision and a comprehensive roadmap to achieve operational Net Zero by 2040 that includes R&D, farmer-centric capacity building, local sourcing strategies and investment in cutting-edge digital tools.
Speaking about the report, Pascal Foehn, Global CEO of Innoterra notes, “Innoterra’s focus on India, with its immense potential, has been unwavering. We aim to empower over 150 million smallholder farmer families with regenerative farming practices and provide them with direct market access through innovative technology. In 2023, we achieved a significant milestone by becoming one of the select foreign companies authorized in India to retail food products through both physical stores and our e-commerce platform. From 2024, Innoterra is dedicated to achieving operational Net Zero by 2040. We have already begun working on the clear goals based on our comprehensive roadmap and I am confident that we will reach our target on schedule.”
As per the report, by March 2028, Innoterra aims to achieve:
25% Renewable Energy Transition
40% Reduction in Food Wastage
25% Reduction in GHG Emissions
Achievements of 2023
The year 2023 has been challenging for global food supply chains due to various reasons. Innoterra was able to navigate the risks due to its unique strategy of focusing on local sourcing by empowering farmers and connecting the buyers and sellers through its digital marketplace. The company’s achievements include:
Elevating Farmer Income: Innoterra’s collaborative efforts with crop and dairy farmers resulted in a remarkable 26.5% increase in yield. This boost in productivity not only contributed to higher income for farmers but also helped improve food security in the regions where Innoterra operates. The company achieved this through the implementation of innovative farming practices, access to quality seeds, and ongoing support and training for farmers.
Digital Payments: Innoterra’s commitment to modernizing the agricultural supply chain was evident with over 145,000 digital payments made to farmers annually. This not only streamlined the payment process but also ensured that farmers received their payments promptly and securely. The successful processing of 50,000+ order counts through FarmLink demonstrated the efficiency of their digital platform, reducing administrative burdens and enhancing transparency.
Farmer Learning: Innoterra’s InnoSoli app played a pivotal role in empowering farmers with knowledge and skills. With more than 11,000 downloads, it provided access to 800+ tailored educational modules designed to cater to illiterate farmers. These modules covered a wide range of topics, including crop management, livestock care, and sustainable farming practices, helping farmers make informed decisions and improve their livelihoods.
Quality Milk Sourcing: Innoterra’s commitment to sourcing high-quality milk directly from farmers was exemplified by the daily sourcing of 145,000 liters of antibiotic-free, aflatoxin-free milk. This not only ensured a consistent and safe supply of milk but also promoted responsible and sustainable dairy farming practices. By supporting farmers in producing high-quality milk, Innoterra contributed to improving the overall health and well-being of communities.
Climate Initiatives: Innoterra’s partnership with ETH (Swiss Federal Institute of Technology) to introduce the Innoterra Carbon Credit program demonstrated the company’s dedication to environmental sustainability. This initiative aimed to offset carbon emissions and promote climate-friendly practices within the agricultural sector. By engaging in carbon credit programs, Innoterra showcased its commitment to mitigating climate change and contributing to a greener future.
These achievements collectively underscore Innoterra’s holistic approach to agricultural development, encompassing economic empowerment, technological innovation, knowledge dissemination, sustainability, and climate action.
