A rice field in South Korea. A group of companies plans to invest $10 billion to $15 billion to boost global food production by 50 percent by 2030. Photo by: Rowan Peter / CC BY-SA

A group of companies is planning to invest $10 billion to $15 billion in boosting global food production 50 percent by 2030.

The commitment was included in a report by B-20, a group of business leaders that provides recommendations to the G-20. And for this year’s summit, the group’s food security task force has identified five key areas of action:

  • Increase investment in agricultural productivity.

  • Improve market function.

  • Ensure sustainable food production.

  • Scale up access to technology.

  • Make nutrition a priority.

The companies that made the commitment were not identified in the report or in an opinion piece for The Washington Post, but it is possible that Unilever and Group Bimbo, a global baking company, are among the said companies: Unilever CEO Paul Polman and Group Bimbo CEO Daniel Servitje are co-chairs at the task force.

It is not immediately clear how the companies will deliver on their multibillion-dollar commitment, which follows that of companies that pledged to invest more than $3 billion in agriculture at the G-8 summit.

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About the author

  • Jenny Lei Ravelo

    Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.