The increasingly rapid advancement of mobile technology now makes it possible to access information from almost anywhere in the world through the Internet and mobile apps. How can we utilize this advancement to create a more sustainable planet?
The answer lies in connecting rural landowners to governments and financial institutions through the use of mobile technology and, as we believe, by linking with Thomson Reuters information platforms.
With an expected 50% increase in global food demand by 2030 and more than 9 billion people to feed by 2050, there is a critical need for additional agricultural investment. Approximately 440 million farmers do not have a bank account or mobile money account, and there is $450 billion in unmet global demand for smallholder agricultural finance, according to the World Bank and Dalberg.
With limited infrastructure in rural areas, communicating with the government and accessing bank products is nearly impossible for many landowners. However, with expanded mobile coverage and increased Internet accessibility through mobile devices, Thomson Reuters can now help connect these parties and address key challenges to sustainable economic inclusion: by helping landowners document their land rights, governments develop formal registries, and financial institutions reach landowners and farmers who desire credit and insurance.
By bridging this connection gap, we can improve land registries for governments with wider participation from landowners, help farmers access credit and crop insurance with formal land titles to demonstrate ownership and collateral, and help banks reach new customers and make responsible lending decisions.
The benefits of creating a more sustainable world are indisputable. We have seen a dramatic reduction in poverty from a stronger agricultural sector around the world, such as 63% higher agricultural productivity in plots without risk of eviction in Uganda and a 50% gain in productivity after land titling in Nicaragua.
As The Answer Company, Thomson Reuters provides the technology, intelligence and human expertise needed to find trusted answers. By enabling economic inclusion through stronger land tenure, we are helping to answer the question of how we believe the world will become sustainable.