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Investment in seed innovation needs to double to $2 billion, says Bill Gates

Bill Gates said that investment in seed innovation, which is around $1 billion at the moment, needs to be doubled to ensure it has the desired impact.

September 22, 2022 / 07:17 PM IST
Bill Gates

Bill Gates

Philanthropist business magnate Bill Gates said he believes seed innovation is the way forward to ensure food security in a world battered by climate change, pandemic, and now, a war.

In an interview with CNBC-TV18, Bill Gates said that investment in seed innovation, which is around $1 billion at the moment, needs to be doubled to ensure it has the desired impact. He added that he himself plans to be a big funder in seed innovation.

He said: “The amount of money going into seed innovation is less than a billion (dollars), you know, (and) our goal for the world is that if we got that up to $2 billion, that would be the biggest thing to help avoid climate disasters.”

Elaborating further on how investing in seed innovation is one of the best ways to ensure food security for a world increasingly affected by climate change, Bill Gates said: “Better seeds and credit to buy fertilisers will allow food security in developing nations as food prices are becoming unaffordable… Food security is the priority now as climate change is making it harder… We can improve productivity per acre in developing nations, but for that, we need to adopt seeds like never before.”

Speaking about the situation at hand, Gates reminded that a combination of events have unfolded over the past years, all of which were bad for food availability. For instance, climate change hurt crop production, while Russia’s invasion of Ukraine hurt food availability and made fertilizers more expensive; earlier, grain prices had gone up during the coronavirus pandemic.
Moneycontrol News
first published: Sep 22, 2022 07:17 pm
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