December 7, 2023

Contributed by  Citi GPS: Global Perspectives & Solutions 

“Too often we fail to mention the role that subsidized water plays in underestimating the threat that the farming sector is facing, given that 70 percent of freshwater withdrawals annually are used by the agriculture sector,” said Adam Bergman, Managing Director, Citi Clean Energy Transition Group, Global Head of AgTech.

“As climate change accelerates and water availability decreases, farmers will be forced to produce the same or more using less water, which will be more expensive as aquifers dry up and less rain falls.”

“I appreciated the opportunity to work with my colleagues, Elizabeth Curmi and Ying Qin, on this report to highlight areas where technology innovation can enable society to increase food production, while decreasing water usage and using more sustainable and efficient farming practices. These areas include: advanced irrigation, biologicals, controlled environment agriculture, crop breeding/CRISPR, desalination, and precision & digital agriculture, that together have the potential to enable society to grow enough food to feed the 10 billion people expected to be on earth in 2050 without consuming all our existing freshwater resources.”

Access the report here.

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