New estimates now predict that the
world population will pass ten billion by about 2080. Meanwhile, climate change is likely to lead
to increased drought in much of the world, especially in developing countries where population
growth will be the greatest. The net effect will be less land for food production, and many more
mouths to feed.
In endorsing the Principles, the
investors agree to promote environmental sustainability, respect labor and human rights, respect
existing land and resource rights, promote high business and ethical standards, and report publicly
on their progress toward implementing the Principles.
Jose Minaya, Head of Natural
Resources & Infrastructure Investments at TIAA-CREF, stated, "As the world faces the challenge of
feeding 9 billion people, it is critical that new investments into agriculture are made with
sensitivity to their environmental and social impact. The Farmland Principles express a strong
commitment by long-term oriented investors to practice responsible investment as we seek to create
value for our clients."