Aug 14, 2023 (updated Apr 11, 2024) • 7 mins
The world population is just over 8 billion.1 As the population grows so does the demand for modern technologies that increase food production capacity at faster rates. However, efforts to produce food more quickly are resulting in significant environmental impact. Agriculturists are now prioritizing sustainable agriculture and farming practices that balance science-based techniques with productivity, environmental preservation, and profitability.
What is sustainable agriculture?
In the U.S., sustainable agriculture, sometimes called “regenerative farming,” is a multifaceted approach that benefits the environment, ensures food security, and promotes economic prosperity. Through practical and technological means, farmers, ranchers and other producers seek to conserve soil, protect water quality, and preserve biodiversity. Holistic and forward-thinking, its objectives include:
- Reducing dependence on practices that deplete resources and harm ecosystems.
- Minimizing synthetic chemicals, such as pesticides and herbicides, and encouraging organic farming methods that provide healthier, safer, and more nutritious food options.
- Improving the economic wellbeing of farmers and rural communities with diversified crops, efficient practices, and reduced input costs.
- Emphasizing fair and equitable practices, encouraging fair wages, safe working conditions, and respect for labor rights. It also creates opportunities for local and regional markets, promoting economic growth and job creation.
- Ensuring a stable food supply and environmental resilience with less dependence on imports.
It's in the interest of every member of the food supply chain, including retailers and governments, to work together to protect natural resources while providing reliable access to foodstuff.
Why is sustainable agriculture important?
Natural resources are limited, but the demand for food is rising exponentially. By 2050, the world’s population is projected to increase by another two billion people, necessitating a 56% increase in food production versus 14 years ago.2
Food production isn’t just important domestically — it's also a global opportunity. U.S. producers who embrace regenerative practices to help mitigate the nation’s food insecurity also have opportunities to export their products to other countries. The global market is valued at $13.3 billion and is predicted to reach $31.4 billion by 2031.3
Key innovations are driving sustainable agriculture and farming.
Finding new ways to produce more with less, grow healthier plants for consumers and animals, and protect against pests will increase product quality, reduce costs and potentially increase profitability.
Technology is helping to advance regenerative farming. Several innovations hold great promise for addressing environmental challenges, improving resource efficiency, and enhancing the long-term viability of farming systems.
| Innovation | What it Does |
| Precision Agriculture | Uses automated sensors, drones, and GPS-guided machinery for precision monitoring and management of agricultural operations. Farmers can gather real-time data on soil moisture, nutrient levels, and crop health, which enables them to apply water, fertilizers, and pesticides more efficiently. This measured approach reduces the risk of over-application and minimizes environmental impact and resource waste. |
| Vertical Farming | Involves growing crops in vertically stacked layers, often in controlled indoor environments. With techniques such as hydroponics or aeroponics, crops can be grown in a soil-less system, with less water and space compared to traditional agriculture. Vertical farming enables year-round production, reduces transportation costs, and can be established in urban areas to bring food production even closer to consumers. |
| Agroforestry | Integrates trees, crops, and livestock on the same piece of land. This delivers multiple benefits, including improved soil fertility, carbon sequestration, enhanced biodiversity, and increased resilience to climate change. Agroforestry systems can also provide additional income streams for farmers through the sale of timber, fruits, nuts and other forest products. |
| Smart Irrigation Systems | Sensors and data analytics monitor soil moisture levels, weather conditions, and plant water requirements to deliver the right amount of water at the right time. Smart irrigation systems eliminate over-irrigation and optimize water resources and increase efficiency. |
| Agricultural Robotics (Agribots) | Automates farm operations. Agribots can precisely apply fertilizers and pesticides, reducing overuse and minimizing environmental pollution. They also enable targeted and efficient weed management, reducing herbicide use. Automating planting, harvesting and monitoring, reduces physical strain on farmers and workers and improves safety in labor-intensive tasks. |
| Renewable Energy Technologies | Renewable Energy Technologies integrates solar panels and wind turbines into agricultural operations. For example, farmers can use these technologies to generate clean energy to power their farms, reduce dependence on fossil fuels, and lower greenhouse gas emissions. Excess energy can also be supplied to the grid, contributing to the renewable energy transition and creating additional revenue streams for farmers. |
| Blockchain Technology | Enhances transparency and accountability in the food supply chain. Creates a decentralized and tamper-proof record of information so farmers, suppliers, and consumers can track the journey of agricultural products and ensure they are ethically sourced, sustainably produced, and meet specific certifications. |
| Artificial Intelligence (AI) | Advanced computer algorithms data analysis helps farmers optimize operations, reduce waste and promote regenerative practices. For example, AI can analyze weather patterns and soil conditions to recommend the best time to plant and/or water crops. It can also detect crop diseases or pests early on, enabling farmers to take quick action to minimize damage and the use of harmful chemicals. |
Government programs and grants are available to support greener farming practices.
The United States Department of Agriculture (USDA), as well as public and private organizations are supporting growers who adopt renewable practices with the financial assistance, tax benefits and technical help they need. Some examples of these federal and foundation-backed programs include:
- USDA Conservation Stewardship Program (CSP)
The largest conservation program for farmers and ranchersin the U.S. This contract program includes one-to-one consulting, free resources and annual payments. Its goal is to assist participants in improving existing conservation plans. - USDA Environmental Quality Incentives Program (EQIP)
This voluntary program provides technical assistance and funding to help farmers, ranchers, and forestland owners plan and implement conservation practices. - Sustainable Agriculture Research and Education (SARE) Grants
Funds research and education projects that explore new and innovative ways to make agriculture less exhausting of natural resources. These grants are available to individuals and organizations, including farmers, researchers, educators, and nonprofits. - USDA Beginning Farmer and Rancher Development Program (BFRDP)
Provides grants to organizations that offer training, education, outreach, and technical assistance to beginning farmers and ranchers. The program’s goal is to assist new growers with adopting sustainable farming practices and achieving profitability. - USDA Organic Agriculture Research and Extension Initiative (OREI)
This program, designed for established organic farmers, assists with research, education, and extension projects that improve product quality. - Sustainable Agriculture and Food Systems Funders (SAFSF)
A network of philanthropic individuals and organizations that fund initiatives to improve food security and sustainability, as well as inform public policy related to food systems charity.
There are a variety of programs, including state-level initiatives, to meet the unique goals, income, operational and market needs of agricultural businesses. Many banks also have a vested interest in helping agricultural businesses improve profitability and growth in their communities. Remember to consult the respective program websites, local agricultural extensions, USDA offices or appropriate organizations for eligibility criteria.
Invest in sustainable agriculture and farming.
Modern methods can continue to revolutionize the way growers produce food, propelling the industry toward greater productivity, reduced manual labor, and improved efficiency. Whether you’re a new or established business, learn moreabout how Synovus Agriculture Banking can help.
Recent
-
Stay Liquid, Stay Flexible: Cash Flow and Investment Solutions for a Changing Interest Rate Environment
While inflation is inching towards normalcy, the Fed is considering just one interest rate cut this year. Three key elements will help develop an effective liquidity management plan.
-
In an Automated World, Check Fraud Still Thrives: Tips for Commercial Businesses
The Federal Reserve collected more than 3.1 million commercial checks last year. Yet, checks are most susceptible to fraud. Companies must take action to prevent fake check scams.
-
Say “No” to Business Email Compromise
Business email compromise can cost your company money, disrupt operations, and damage its reputation. Learn how to recognize and prevent BEC attacks.
-
Customer Webinar: Synovus Healthcare Innovation Network Event - Medical Manufacturing
View our recent panel discussion on the current state and future of medical manufacturing hosted by our Synovus Corporate and Investment Banking team.
-
Stay Liquid, Stay Flexible: Cash Flow and Investment Solutions for a Changing Interest Rate Environment
While inflation is inching towards normalcy, the Fed is considering just one interest rate cut this year. Three key elements will help develop an effective liquidity management plan.
-
In an Automated World, Check Fraud Still Thrives: Tips for Commercial Businesses
The Federal Reserve collected more than 3.1 million commercial checks last year. Yet, checks are most susceptible to fraud. Companies must take action to prevent fake check scams.
Important disclosure information
This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circ*mstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.
- United States Census Bureau, “World Population Estimated at 8 Billion,” November 9, 2023 Back
- WebMD, “In the Future, How Will We Feed Ourselves,” June 2, 2022 Back
- Insight Ace Analytics, “Global Sustainable Agriculture Market Research Report,” May 9, 2023 Back
