New tool empowers businesses to make food systems sustainable

JULY 10, 2024 - Recognizing the critical role investors and businesses can play in driving the transition to more equitable, resilient, and sustainable food systems, the Responsible Agricultural Investment (RAI) Tool for Agribusiness offers a practical framework for business leaders to understand what responsible practices look like, identify gaps, and prioritize improvements as they seek to align with international principles.

The tool has been developed by IISD, Cerise+SPTF, and partner organizations with support from the Swiss Agency for Development and Cooperation.

"Responsible investment can play a transformative role in fostering innovation and inclusivity in agricultural value chains," said Hafiz Mirza, Lead, Responsible Agriculture Investment Research at IISD. "I would encourage any business leader in this sector to try the new tool, discover opportunities for improvement, and start thinking about how to take action."

Intended to be used by a wide range of stakeholders engaged in promoting sustainable agricultural investments-such as agribusinesses, financial investors, and industry associations-the tool shows how to create a clear, actionable plan. It has been tested by agribusinesses in Africa and Asia and refined based on their feedback and is designed to be compliant with internationally recognized best practices of sustainable business conduct, such as the principles on responsible investment in the agricultural and food systems (CFS-RAI Principles) and the International Finance Corporation (IFC) Performance Standards.

"This innovative tool not only helps businesses plan to become more sustainable, but it also promotes transparency and accountability-both of which are essential for sustainable development," says Marion Allet, Head of Environment and Impact at Cerise+SPTF.

You can find out more about the RAI Tool for Agribusiness here.