Accelerating innovation to meet farmer needs
Chuck Magro and Brook Cunningham
Our company turned five this past year, and in those five years, we are proud to say that we delivered meaningful impact to farmers and with farmers, as well as to the world around us. From drought-resistant corn to rice that slashes water usage, we work - every day and every shift - to transform agriculture and feed (and fuel) the world’s growing population.
Like the farmers we serve, the concept of sustainability lies at the core of our strategy, business, and vision for the future. That’s one reason we invest nearly $4 million every day in sustainable innovation – to develop critically-needed technology to help farmers solve some of their toughest challenges, from rising pest and disease pressures to extreme weather.
For example, thanks to agricultural technologies – including those developed by our company – current corn hybrids in the US not only produce nearly seven times more yield overall (as compared to those from almost a century ago), but also three times more under drought stress and three times more per inch of water1. This means that farmers can lower their impact on the environment and grow more corn – proof that sustainability and performance gains do not have to be mutually exclusive.
And, as we say at Corteva, we’re just getting started. In 2024, we also:
- Announced a proprietary hybrid wheat system that could increase yield potential by 10%2 while using the same amount of land and resources, providing significant promise for both farmers and global food security; be more resistant to drought—research trials show our hybrid wheat can yield roughly 20% higher2 than elite varieties in water-stressed environments; and accelerate the speed to market of new elite germplasm.
- Expanded market availability of Utrisha™ N, a nature-based, biological solution that uses a nitrogen-fixing bacterium to provide supplemental nitrogen to crops, helping to improve plant health and yield potential.
- Identified opportunities to expand our leadership in biofuels to serve a growing sustainable aviation fuel market, including in Europe, through our announcement with bp.
- Launched Corteva Catalyst™ to accelerate innovation in our industry by partnering with small businesses and entrepreneurs to develop next-generation technologies.
- Graham, Geoff. Building Global Breeding Solutions to Drive Local Crop Performance. February 2020.
- Internal yield trial testing; 2 years of testing with 6-10 locations/year in each of the market classes. Hard Red Winter testing in NE, KS, CO, OK.
“From Iowa to Brazil and France to India, it is a privilege to work alongside farmers and help solve some of the world’s toughest challenges.”
- Launched a program in India – 2MillionWomen – to support women across rural India grow more food and run more profitable farms.
We also hit other important milestones in 2024:
- Won the prestigious Campbell Safety Award from the National Safety Council, highlighting our success in creating and maintaining a safe and healthy workplace
- Continued to meet our stringent sustainability criteria in 100% of newly-developed solutions in our pipeline
- Supported biodiversity outcomes on eight million acres
- Delivered a 21% reduction in Scope 1 and 2 emissions intensity
We are pleased with the progress and impact we achieved in 2024 – but our work is far from over. Farmers still have some of the hardest jobs on Earth, and as the challenges they face intensify, so too does our partnership with them.
From Iowa to Brazil and France to India, it is a privilege to work alongside them and help solve some of the world’s toughest challenges. We look forward to a new year with optimism, energy, and a determination to continue to deliver solutions that help move agriculture forward.
Thank you for your support and interest in our company – we hope you enjoy this report.
Chuck Magro
Chief Executive Officer
Brook Cunningham
Senior Vice President, Chief Strategy Officer