Private Sector Mechanism Endorsement of the Principles for Responsible Agriculture Investments

Statement by the Private Sector Mechanism On the Occasion of the CFS

Rome, Italy, October 15 2014 – The Private Sector Mechanism welcomes the conclusion of the negotiations and the endorsement of the voluntary Principles for Responsible Investment in Agriculture and Food Systems as part of the UN Committee on World Food Security (CFS) in Rome.

On behalf of the International Agri-Food Network (IAFN) and the private sector mechanism, Hakan Bahceci, Chair of IAFN, thanked the FAO, member states, civil society members and other relevant stakeholders, for their willingness to listen the private sector concerns, value their participation, and be open to their contributions. “The Private Sector is proud to have been part of this process, which will contribute to enhance food security and sustainable livelihoods,” noted Bahceci.

Responsible Investment in Agriculture and Food Systems is a set of principles to promote investments in agriculture. “An increasing number of private sector firms are already engaged in the improvement of corporate practices related to agricultural investments. It is a real benefit to have a set of principles endorsed by the UN which can give guidance,” said Bahceci.

Many companies have already started to review the principles in the context of existing reporting mechanisms and relevant laws and are willing to examine how the principles may work in practice, with a view to operationalizing them.

“These Principles will also guide not only private sector engagement, but also that of national governments, donors, and NGOs. Stakeholders need to work together collaboratively to attract resources to agriculture – a sector which has long been underfunded,” added Bahceci. “Investments should and do improve livelihoods, promote economic growth and eradicate poverty, foster social and gender equality, achieve sustainable development practices – all if there is a stable, corruption-free enabling environment provided by government.”

The Private Sector Mechanism wishes to congratulate all relevant stakeholders for their tireless efforts to complete these principles, with particularly recognition of the tireless work of the work group Chairperson Christina Blank of Switzerland. It is an important milestone to successfully achieve better food security and nutrition outcomes.

For more information please contact:

Robynne Anderson robynne@emergingag.com

Secretariat to the International AgriFood Network

The Private Sector Mechanism fosters the input of the private sector into the UN Committee on Food Security. It is currently co-ordinated by the International Agri Food Network.