Corteva focusing on Biodiversity with TNFD LEAP framework in Agriscience
As a first step towards integrating nature-positive financial decision-making into Corteva’s core business strategy, the company launched the TNFD pilot project, which highlights both innovative products in its pipeline and partnerships to advance biodiversity and set new standards for corporate governance.
Following the announcement of the biodiversity goal in 2022, Corteva has been an active partner in piloting how to report on biodiversity risks and opportunities, including the recently released Taskforce on Nature-Related Financial Disclosures (TNFD). Organizations can report and act on evolving nature-related impacts of their operations using the framework developed for impact management and disclosure.
Incorporating nature-positive financial decision-making into Corteva’s core business strategies, the pilot TNFD project highlights Corteva’s efforts to advance biodiversity and set new standards for corporate accountability.
TNFD LEAP Framework in Agriscience and Corteva’s Biodiversity Focus
The pilot project also features the TNFD LEAP framework—a four-stage process designed to help companies understand and manage their nature-related footprint. The project focuses on the first two stages: “Locate,” which identifies high-impact sites, and “Evaluate,” which assesses nature-related impacts and dependencies.
As part of Pilot, Corteva also has ambitious biodiversity goals, including supporting biodiversity and regenerative agriculture on 25 million acres by 2030. Multi-pronged approaches, including products, productivity, partnerships, and operational improvements, will be used to achieve this.
Creating a sustainable agricultural ecosystem and higher genetic gain are Corteva’s goals. In addition to crop protection and crop health, Corteva has developed products that maintain harmony with beneficial soil organisms.
ReklemelTM, a selective nematicide that targets damaging nematodes without harming beneficial soil organisms, is a nuanced approach to crop protection that ensures that crops are protected from pests without disrupting soil ecosystems. Further, Corteva is working to improve yields across the seed technology spectrum, which includes conventional, genetically modified, and gene-edited breeding techniques. Using this technology, conservation cropping systems, such as double cropping, can reduce the need for land use changes to grow additional crops. Corteva has helped prevent approximately 240 million hectares from being converted into crop production by optimizing yield per acre through advanced seed genetics and efficient cropping systems. Moreover, by avoiding the emission of over 140 billion metric tons of CO2 equivalent annually, this land-saving strategy has a direct impact on climate change mitigation and it also aligns with global efforts to reduce greenhouse gas emissions and combat climate change.
Further, to improve plant and wildlife biodiversity across millions of acres of land in the U.S., Corteva has partnered with conservation non-profits such as Pheasants Forever and Quail Forever. In addition to complementing the TNFD pilot project, these collaborations are vital for achieving broader sustainability targets. To support Operational Biodiversity Corteva’s “Waialua, Hawaii Parent Seed Farm”, has implemented a diverse cover-cropping system and native tree breaks to support a healthy, productive soil system.
A TNFD pilot project was developed based on these four pillars – product innovation, productivity, partnerships, and operational improvement – to better inform Corteva’s sustainability strategy and nature-related impact assessment. Corteva reaffirms its commitment to promoting nature-positive impacts within the industry by testing the TNFD framework in its direct operations and sharing insights gained in this case study. Corteva sets a precedent for how agriculture can contribute to a more sustainable and financially resilient world by better understanding how nature impacts biodiversity preservation.