This is Bloomberg Business Week with Carol Messer and Tim Steneveek on Bloomberg Radio.
Our next guest is a Bloomberg New Economy Catalyst Class of twenty twenty two. Now, just a reminder, Catalysts are people whose innovations, efforts and objectives have a genuine shot at changing the world for the better. And we are so delighted to have back with us Anastagia Volkova. She's the co founder and CEO of the regenerative ad company Regrow. We got to talk about some of the accolades, tam.
Yeah, well let's just start with just a couple of them. Okay, but we got it. We can't say I'm all or else. We're not going to get any time for an interview. Let's just go with this one. Time is named Regrow is one of the one hundred most Influential companies in twenty twenty three. Fast Company has named it one of the most innovative companies of the year. In Anastasia was named to the Time one hundred list of the next one hundred most influential people in the world.
Can I say, aren't you happy? You called it first? With the catalysts.
Yes, yes, yes, yes, you also have a PhD in visual drone navigation, which I always think is so cool and I think we talked about it last time. Good to have you back with us. I know you're in for all these quas accolades. I know now, but we don't have time. We want to talk to our So talk to us about what's going on this week and what's going on since we last talked to you in April.
Yeah, if i'd be loves to be back. Thank you so much for having me. Absolutely, it's wonderful to also see all the momentum in food and agriculture space and the industry leaders generally, we believe that it's an industry that can decarbonize as soon as are things.
Really changing and things are moving? What is to me?
What does it look like? Okay, let's look at the most recent pieces. So to California builds a passing legislature and they are going to mandate climate disclosures for companies over one billion dollars in revenue trading in California. There's also a segment for half a billion dollar revenue company.
Which does that mean? What do they have to show it?
Literally? Means that they need to go and calculate how they are impacting climate in their own emissions as well as their purchase goods and services. So if you are, for example, a food company making food that ends up on the shelf or on the plate, you literally need to be thinking about what is the emission on farm because this is where the largest portion of those emissions sits.
And by twenty twenty seven you will have to declare it, which effectively means that if you start measuring it, you'll start managing it. And all of the data that someone like Regro works on where one of the primary sources of the data that they can start understanding their supply shoes with and investing in it powers their decision making they can tangibly progress towards their net zero and emission reduction goals, which as you know, there are plenty.
When you say that this is one of the industries that can decarbonize the quickest, are you including animals in this as well?
Like?
Are you including cattle farming?
That's right, agriculture, How.
I mean this is like one of the worst things for the environment.
It's very subjective, right, So when you start thinking about what are the animals supposed to do versus what we got them to do, how we disaggregated agriculture. Whilst in an integrated system, they're actually all very helpful. It's a more circular system. You can feed them better. Crops with a lot of emissions in the animal system are still in the crops. We produce most of the crops to feed animals, not to feed ourselves, so that's where the majority of the impact will come.
First use the complication.
I am saying that we need to decarbonize all parts of the burger and starting to list what are the parts that we should decribonize, But I am definitely saying the alternative burger is better for the environment. Yes, but there's things about the burger that are also not terrible for them.
And a station when you work with the company, what exactly do.
You do for them? We help them first uncover their school three emissions i e. Those that on farm, So if they come and pick their supply sheds, they say, I source this over there, can you tell me how is that impacting the environment? And we actually letter up the data from the field level, so we have dynamically generated data on a near real time basis that can say here's what's happening in the landscape, this is what's
what's impacting the environment right now. Once they have that snapshot, they can also model with the platform that wee them, the ag resilience platform, the abatement potential, that is to say, what can I change for better? What can I reduce? How can I get to my mission production goal?
So it's not about carbon offsetting, it's actually do so you don't create carbon in the first place.
Yes, it's value chain investments. It's almost call it in setting. It's the opposite. So you take action within your value chain. You are not you're reducing your own emissions. You're not looking to offset them somewhere else.
I hate offset.
Sorry no, and European Commission is with you.
Because you shouldn't be making You've got to reduce the carbon footprint. It's not a case. It's not exactly I'm not going to all right, so I'm creating a lot of carbon, but I'm going to go plant some trees. You're still putting the carbon in there, like we've got to reduce it overall.
That's just no.
Absolutely, we have to find ways of producing food in a way that doesn't harm the environment so much, it actually renews it and regenerates it.
Is vertical farming one of those answers. Good question, It's very controversial.
It's very controversial because you have to consider everything from the system perspective. Right, So on one hand, you have the transportation of say salad from Salinas, California, to New York City, and that's absurd, So you probably should consider growing it here, if you recycle some of the resources, if you're able to provide it with the water it
needs without drowing more water into that farm over time. Okay, great, but you still look in at a system that largely requires artificial synthetic input fertilizers, and they sustain the system, is opposed to say soil out there that when healthy, sequestors carbon and provides water, cleaning, clean air, all of those ecosystem services to us living all around on those those environments.
You know, it's interesting. We had Johannes Zuting of Powers twenty one on and they basically are making sure that you know, or helping developing the developing world, you know, create data sets. They don't actually have the data, but they're pulling from different sources and making sure it's year. But the whole idea is you need to collect and track transformative data to help bring about transformative policies and change.
Talk to us about the importance of that having that data that you guys are providing right, the information, but also go hand in hand with governments states countries saying we've got to do better, and so you need the data to kind of meet.
Absolutely it has to and we have plenty to update the listeners on with the IRA money, with the investment, with the Inflication and Reduction Act and the Embedded Climate's MARGE Commodities program, the Administration is looking to effectively accelerate
the investment into low carbon commodities and agricultural sector. But also they have released recently an initiative specifically focused on the data and the MRV the monitoring, reporting and verification of emissions and practices, and they completely go hand in hand. So if we ever want this to be a truly bipartisan issue that is internationally accepted, we need to start looking at the data and not wondering where the money
is going on. Because once you are seeing that the money is getting to where it needs to be, why wouldn't you invest more in because you are getting that return you're looking for. But it's the data that needs to tell that story.
Talk to us more about this because I always wonder about incentives here. It's one thing for the state to actually require disclosures like California is doing, you know, and it's a side point. But my concern is that, Okay, all these companies are going to move to Texas, which is a state that will not require these types of disclosures. Maybe that's a conversation for a different day.
You really grow in Texas.
I mean, you could base your company in Texas instead of facing it.
Anyone who trades in Texas, not anyone who's headquartered like in California. For the California bill, you just have to be trading in California. You are not headquartered in.
California, so people won't get around it.
I don't think you can move something to Texas and stop trading one of the largest economists in the world that is California.
Yeah, that's very true. Okay, maybe the lawyers will be busy trying to.
Figure out a way maybe hopefully so.
What's good But estion is really about is really about data, and you know where that data comes from and how you measure that data in this day and age.
That's right when you're looking at this type of bill, people are getting concerned that this will actually put more burden on the suppliers, of which farmers is one of the categories in this industry, of course the primary category. So this data, you don't need to invent more ways to get this data. We already, as Greta Thamberg always says, we already have all the solutions. We just need to
actually implement them. So regrow gets data from fire management system, statistical surveys, but importantly satellite imagery, so remote sensing of practices tells us a lot about what's happening in the land in a non invasive way, in a very scalable and cost effective way. Then we pass it through climate models, soil carbon crop models to understand what is the impact on the environment. So we see the practices from space, from local systems, tractor tells us what's going on. We
don't have to ask the farmer for absolutely everything. We have to accept that agriculture has been running on data. It's a big business, it's a big industry. It has the data. If you provide the incentives and you assure the privacy, you will be able to get the system to a level of transparency where it can all actually flow in a direction of Paris one point five degree trajectory.
What companies are you working with?
We're working with General Mills, Kellogg, Cargil, folks across the supply chain, from those that provide input to the farmer's trade and aggregate and process the commodities all the way to those that you pick up their boxes off of supermarket shelves and plates or oldly for example, is another cool.
One US only or is it global?
Global? Global?
So everybody's involved in it. So what has changed you guys have been around? Is it five six years?
That's we're going to be twining seven? This no number?
So what's changed from when you started in just kind of about thirty seconds?
Oh, impact has changed? Right, three years ago, we weren't having this conversation. Absolutely every step you take during not only Climate Week but generally when you interact with corporate and governments, resiliences at the forefront. For us, we of course have grown in the response to that interest from the market, from the policy and.
People are changing their practices because of the information they're getting from you.
That's correct. People are establishing more ambitious plans. People are able to understand how to invest into the transformation because they can clearly see what the return would be. And important to Carol share the risk of the farmers upfront. You're not telling them to do something without no one was going to lead to.
Can't wait to see her the next six years, seven years, hold for you that till twenty thirty.
You're right on.
Come back soon. We really appreciate an a stage of a Covia. She's co founder and CEO of Regrow here in studio