HSBC Philippines has partnered with development sector group Bayan Family of Foundations and agritech leader Mayani to launch a philanthropic initiative aimed at scaling sustainable food systems and supporting Philippine smallholder farmers and fishing communities.
Smallholders produce more than 70% of the food in the Philippines, however these communities are amongst the most vulnerable to climate change. In addition, according to the UN, women smallholders are disproportionately affected by the impact of climate hazards, due to limited access to credit, land, and training.
The Bayan-Mayani initiative will encourage the development of clustered, cooperative-based farming models that integrate regenerative agriculture, indigenous knowledge, digital tools, and enable communities to embrace market readiness.
Smart greenhouses, precision agriculture systems and other on-farm infrastructure investments will support the long-term goals of the project.
‘Important partnership’
“We are pleased to partner with Bayan alongside Mayani to provide philanthropic funding for the climate-smart agriculture capacity building,” commented HSBC Philippines president and chief executive officer Sandeep Uppal. “This important partnership will aim to support local farmers and fishermen to adapt climate-resilient practices and strengthen their businesses, while also striving to contribute towards the improvement of food security in the Philippines.”
As the groups noted, the initiative aligns with several UN Sustainable Development Goals, including SDG 2 (No Hunger), SDG 10 (Reduce Inequalities), and SDG 12 (Climate Action), as well as addressing a climate finance gap in the country valued at around $72 billion.
To help scale its impact, Mayani is working with Co-Axis of Temasek Trust to attract additional co-investments.
‘Power of community’
“There are a thousand ways to tackle any systemic issue,” commented Prof. Carlo S. Sagun, president and CEO of Bayan Family of Foundations. “History has, however, proven that the power of a community working together towards a common goal can do wonders beyond their expectations. Filipinos equate this with the value of bayanihan.
“In the taxonomy of organisations, this is best exemplified by the cooperative, which has the upliftment of its members’ lives as its primary objective through its entrepreneurial pursuits. If agricultural cooperatives – numbering in thousands in the Philippines – are effectively mobilised to serve as agents of climate adaptation, social, economic, and even environmental benefits could potentially be delivered to its millions of members.” Read more here.
