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BASF to allocate $16.5 billion to develop pesticide-free technology

Crop protection companies operating in the European Union, including BASF, Bayer have pledged $16.5 billion by 2030 to develop pesticide-free technologies.

Bloomberg Law writes about it.

The spending pledge was reportedly in response to an EU plan that called for halving the use of pesticides.

“Members of the European Plant Protection Association (ECPA), which also includes Corteva Agriscience, will jointly provide €10 billion ($11.8 billion) for their precision and digital agricultural 'weapons' and €4 billion ($4.7 billion) for biopesticides “, — specified in the message.

Recall that in February of this year, the European Commission decided that from October 2020 the level of pesticide residues in grain should be reduced by almost 10 times.

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