Corteva unveils strategy to address global food challenges through 2027

November 22, 2024 - At its 2024 Investor Day, Corteva outlined an strategy aimed at addressing critical global challenges, including food security, the impacts of climate change, and the transition to sustainable energy sources. With the global population rising and arable land remaining finite, the company emphasized its commitment to ensuring reliable food production. It also highlighted efforts to combat intensifying agricultural pressures from extreme weather, pests, and diseases, while contributing to the energy sector’s shift toward biofuels to reduce dependence on fossil fuels.

Corteva presented a financial framework to drive growth through 2027, aiming to achieve $1 billion in additional net sales from its innovation platforms, $1 billion in cost savings through productivity enhancements, and approximately $4.5 billion in shareholder returns. Central to this plan are six transformative growth areas. These include seed and trait out-licensing to achieve royalty-neutrality by 2028, biological solutions designed to generate $1 billion in annual revenue by 2030, and cutting-edge crop protection technologies to counter evolving threats. The company is also working on advanced gene-editing techniques to revolutionize farming practices, expanding its role in the biofuels market to meet rising demand for low-carbon alternatives, and introducing a proprietary hybrid wheat system that promises yield gains of up to 20% in water-stressed conditions.

Corteva reinvests eight percent of its sales—equivalent to approximately $4 million daily—into research and development to solve the challenges facing farmers today.

"Corteva is a critical technology provider in an absolutely indispensable industry, and poised to deliver meaningful growth and value," said Corteva CEO Chuck Magro. "Building on nearly a century of agronomic expertise, groundbreaking technology that helps farmers solve some of their toughest challenges and the ability to deliver seed and crop protection solutions for every acre, this company is set to further its strong track record of creating value for farmers, shareholders and society at large. It's an exciting time to be at, and with, Corteva."

For more information, visit HERE.

The Global Miller
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