2022 was the first full year of our Impact Challenge, in which we committed to generating more income and assets for farmers using roughly the same level of donor resources. We innovated to deliver more impact to more farmers more efficiently – by reducing our cost of doing business and prioritizing projects that build farmers’ resilience to financial and environmental challenges.
Cost efficiency is central to our mission and business model. Over the last few years, we have doubled down on this effort – for example, using metrics like Social Return on Investment (SROI) to guide where and how to deploy resources for the best farmer impact. As part of this push, we explored and scaled several impact channels that have the potential to become self-sustaining over time, to allow us to create and grow impact without needing external funding.
We also enable farmers to grow more food with more certainty each season, earn more money, and build resilience to financial and environmental shocks, by continuing to refine our services to better meet the needs of farmers in each market. In our efforts to ensure an environmentally sustainable farming future, we also adopted a 10-year climate strategy committed to building the resilience of smallholder farmers in the face of a changing climate.