Bayer, BASF, Corteva pledge $16.5 billion to help EU farmers cut pesticide use

Crop protection companies active in the European Union, including including BASF SE, Bayer AG, have pledged to spend $16.5 billion through 2030 to diversify their activities away from applying synthetic pesticides in bulk.

The spending pledge was a response to an EU plan that would require cutting pesticide use in half.

Members of the the European Crop Protection Association (ECPA), which also includes Corteva Inc., would jointly commit 10 billion euros ($11.8 billion) to build up their precision and digital farming arms, and 4 billion euros ($4.7 billion) to biopesticides, the group said [September 7].

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