More than half of British farmers have adopted regenerative farming practices due to rising costs and unpredictable weather, new research from Barclays has revealed.
The bank’s survey of 223 farmers found 56% had already moved to regenerative practices, while a further 24% plan to do so.
This shift was being driven by immediate commercial pressures, Barclays said, with two-thirds stating rising input costs were their biggest challenge over the next 12 months. More than three-quarters are experiencing the effects of changing climatic conditions on their farm.
Farmers are consequently responding through a range of regenerative practices, with 65% reducing pesticide or herbicide use, Barclays found.
It comes after previous research by the UK government found 46% of farms in England were engaged in soil management practices such as cover cropping and reduced tillage.
“This survey tells us that, as an industry, we have matured our understanding of the business case for transition,” said Wayne Astridge, Barclays head of agriculture & landed estates.
“Whether the drivers of that change are commercial, environmental, or a combination of both, the fact that 80% of surveyed farmers tell us they are already adopting or planning to explore regenerative and sustainable agriculture practices is significant and worth exploring.”
However, Barclays highlighted most farmers were still navigating the transition alone with lenders yet to catch up with the sector’s evolving needs.
Julia Bolton, a regenerative agriculture specialist at the International Finance Corporation, believes banks and insurers need agreed frameworks for what regenerative agriculture means, how it’s assessed and how it’s priced, if farmers are to receive the funding they need.
“We’ve seen convergence among a lot of the large food and ag companies on what they consider to be regen ag. But in the financing space, we do not,” she told an audience at Groundswell this week.
“So, how can we not only move the space in the right direction, but ensure that we are providing better priced financing to farmers to actually make that transition?”
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