1. Presentation by: Will Speller United Nations Conference on Trade and Development Joint work with Grahame Dixie and Asuka Okumura (World Bank), Hafiz Mirza, Axèle Giroud and Jacqueline Salguero Huaman (UNCTAD ) The Impact of Larger-Scale Agricultural Investment on Communities: Further Voices from the Field 1

2. 2 This paper follows on from previous UNCTAD and World Bank research… Field research on 39 mature agribusinesses (Africa and South East Asia) Investigates what investors are doing to promote economic, social and environmental gains and sustainability. Shows how communities perceive and are affected by investment. 240 interviews, involving 550 stakeholders. Revisit 8 investors in Ethiopia, Mozambique, Tanzania and Cambodia. Focus on stakeholder interviews: more in depth, wider range, changes over time. 120 interviews, involving 350 stakeholders. 2016 2014

3. 3 Ratio of positive to negative impacts for each company Source: UNCTAD-World Bank Survey of Responsible Agricultural Investment Database Note: Interviewees were allowed multiple responses

4. 4 Share of positive to negative impacts: selected companies Horticulture company Rice company Red line: Positive impact Blue line: Negative impact Source: UNCTAD-World Bank Survey of Responsible Agricultural Investment Database Note: Interviewees were allowed multiple responses

5. 5 Some voices from the field… Fatanye, a 29 year old Ethiopian lady… First job, five-fold increase in salary, Section Head of Plantations, training and education, using her savings to launch her own agribusiness. Mrs. Sokhim in Cambodia… Daily paid worker moved to a permanent contract, savings used to purchase own land, set up a shop, and pay for son’s education. A community neighbouring a rice plantation… Lost farmland without adequate compensation, replacement land unsuitable for farming, houses small and far from school, no follow- up contact with investor, many have given up and moved.

6. 6 Preliminary findings Operational and financial success is a key prerequisite for environmental and socio-economic stability. Employment remained a key benefit; wages and employment had grown between field visits. Investments can be a catalyst for social transformations, especially of women’s place in society. The income from employment or contract farming provides opportunities for savings and investment in fixed assets, land improvement and education. Community development programmes were typically appreciated when consultative and well-funded.

7. 7 Preliminary findings Economic spillovers to the surrounding economy do occur, but are neither guaranteed nor automatic. Technology transfer occurs primarily through training. The impact varies substantially from site to site, depending on the business model, crop and other factors. People who have been resettled disproportionately bear costs associated with new investments. Local people were often insufficiently conscious of environmental degradation. Enlightened investors were raising awareness. Communication and transparency were critical success factors cross all aspects of the operation.

8. 8 Next steps: Pilot Use of Principles Guiding New Investments in Agriculture Field work at 12 early stage agricultural investors in Africa. Objectives: to infuse responsible investment principles into operations from the outset. learning and establish good practices in implementing responsible business practices in agriculture. develop tested instruments, methods, documents, processes and procedures which can be used in the early phases of future investments. inform the work of development agencies, government bodies, investor groups, NGOs and other institutions that promote responsible investment in agriculture.

9. Thank you!