Sustainable Farming Driven by Milestone Lloyds Initiative

The drive to reach net zero has never been more vital than now.

Across all industries, organisations are beginning to harness the power of data to drive their sustainability efforts, yet many players are still unaware of the first step to take in this challenge.

But, one industry that is facing additional difficulties which is resulting in less attention being focused on sustainability efforts is the agricultural sector.

As our population continues to grow, the demand for food is increasing at an incredible rate, resulting in significant levels of soil degradation, desertification and acidification.

This damage, along with the fact that the agricultural sector is one of the largest emitters of greenhouse gas emissions, is beginning to halt their efforts in achieving a better tomorrow.

As a result of this, it has now become essential to provide additional help to farmers, in order for them to reduce their emissions, drive their sustainability efforts and increase their profitability.

Soil Association Exchange is collaborating with Lloyds Bank in a 10-year partnership to propel the agricultural industry on the path to net zero.

Working with 12 industry partners and 685 farms overall, the Soil Association Exchange has utilised its initiative to catalyse sustainability efforts in agriculture and assess around 240,000 hectares of UK farmland. 

The two reports will feature the framework needed for a sustainable agricultural industry in the UK, as well as a detailed farm environmental baseline. 

Because of this, farmers are able to improve their operations’ ecological footprint, access essential funding and identify financial and environmental benefits for their land.

"Farmers are on the frontline of climate change and biodiversity loss, but they are also key to the solution," says Joseph Gridley, CEO of Soil Association Exchange. "Every farm is different, so support is essential to help farmers navigate the complexities of sustainable farming. 

"Our goal is to empower farmers with the tools they need to make positive changes for their businesses, their communities, and the environment while still producing high quality, nutritious food.”

Through this partnership and two reports, farmers will be provided with a direct plan on how they can enhance their sustainability efforts, support biodiversity, reduce carbon emissions and improve soil health. 

Meet the Soil Association Exchange 

The Soil Association Exchange calculates the environmental impact of farm’s operations by reviewing six main indicators — soil, water, carbon, animal welfare, social impact and biodiversity — and subsequently provides the farmer with a benchmark.

As a result of this, they are able to supply landowners and farmers with guidance on how they can enhance their sustainability efforts. Then, farmers are able to cooperate with Exchange experts to link them to new avenues that will help fund the move to sustainable farming.

In addition to this, farmers will receive an action plan that has been crafted by using a digital dashboard and receiving support from corporate partners in supply chains. 

“From our research and the quantity and breadth of farms audited in the study, the need to adopt environmental measurement at scale is clear," joseph adds. “Baselining UK farms with a common methodology provides a route forwards and addresses the real risk of inaction and scepticism in collating data.

“Our approach also offers farmers confidence to make informed decisions; balancing environmental sustainability with profitability, ensuring farmers have the tools and guidance they need to access the funding needed to support their transition.”

About Lloyds Bank’s agricultural efforts 

Lloyds Banking Group focus on personal and commercial customers through their wide range of banking and financial services, securing their position as a leading UK based financial services group.

Lloyds Bank is the lead partner in this initiative and the largest financier of UK agriculture, funding more than 550 farmers to participate in the Soil Association Exchange environmental baselining study.

Lee Reeves, UK Head of Agriculture at Lloyds Bank, says: "The partnership between Lloyds Banking Group and the Soil Association Exchange is the most ambitious of its kind, focusing on a holistic view of farming’s environmental impact. Our reports showcase the opportunity to deliver actionable insights that help farmers improve practices to become more resilient, while also securing long-term profit.

"Sustainable farming is not just about reducing environmental impact – it’s about securing the future of the entire UK farming and food supply chain."

Looking ahead to the future

Another part of the 10-year partnership between Soil Association Exchange and Lloyds Banking Group that will help propel sustainability efforts to come is a new cross-supply chain model that will benefit those farmers that are showcasing their sustainability practices.

In order to assist farmers in moving towards more sustainable practices, payments to farmers will come from a span of supply chain businesses in constant time periods.

As well as this, the Soil Association Exchange Platform will also verify environmental outcomes that have been measured. This allows supply chain partners to evidence the impact and progress made towards reducing their Scope 3 emissions.

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