Agriculture and climate technology company eAgronom, in cooperation with Swedbank, has issued the first Sustainable Agriculture Certificate. Its aim is to promote the implementation of environmentally friendly farming practices, as well as to provide more favourable financing conditions for farmers who are committed to sustainable farming. The 'Liepkalns' farm is the first in Latvia to receive this type of certificate.
Aleksejs Danilins, the owner of the 'Liepkalns' farm in the Rēzekne municipality, produces organic products on his family farm that have gained popularity throughout Latvia. He is the first to have taken advantage of the benefits of the Sustainable Agriculture Certificate offered by eAgronom in cooperation with Swedbank.
Aleksejs explains why he chose to apply for the certificate: “We have been farming sustainably for over ten years, so we had no doubts about our eligibility. It is pleasing to see that this is now also being recognised by credit institutions. This certificate not only reaffirms to our customers that we use environmentally friendly farming practices on our farm, but it also significantly reduced our costs for purchasing new machinery,” admits Aleksejs.
Swedbank is currently the only bank in Latvia that offers farmers the opportunity to receive more favourable loan and leasing financing conditions by evaluating the agricultural practices used.
Rolands Zeltiņš, Head of Agriculture at Swedbank, points out that more environmentally friendly farming is becoming increasingly popular: “We have observed that interest in transitioning to a sustainable lifestyle and farming model is growing; however, this is often associated with additional investment in modern technology and a review of existing farming practices. That is why we provide favourable financing conditions for farmers who have received the Sustainable Agriculture Certificate. In the future, we see great potential for this certificate for farmers, not only in terms of receiving better financing conditions but also in terms of advantageous offers from other partners,” informs R. Zeltiņš.
Diāna Līva, an agronomist at eAgronom in Latvia, emphasises that the Sustainable Agriculture Certificate not only makes sustainable farming more profitable but also improves soil quality in the long term: “The practices that farmers must follow to receive the certificate mean taking care of soil biodiversity. By following them, natural processes in the soil are restored. It becomes more resistant to various factors, especially stresses caused by weather conditions, such as periods of excessive drought or moisture. Consequently, the quality of food also improves, which benefits us all,” says Diāna, who hopes that this initiative will help restore soil quality on many farms in Latvia.
The Sustainable Agriculture Certificate is intended for farms involved in crop production or where crop production is one of their lines of work. The certificate confirms that environmentally friendly farming practices are being carried out on the farm. It is issued after an audit during which data is analysed using satellite imagery, farm management software reports, and, if necessary, physical visits to the farms.
If the farm meets the necessary criteria during the audit, eAgronom issues the Sustainable Agriculture Certificate. By presenting this to Swedbank, it is possible to receive more favourable financing conditions for a loan or lease.
About eAgronom:
Agriculture and climate technology company eAgronom provides financial benefits to sustainable farmers and also offers farm management software. eAgronom has been operating in Latvia since 2017, and it is currently used to manage more than 160 thousand hectares of agricultural land in Latvia and over a million hectares of agricultural land across Europe.