What's Happening?
The agriculture sector is being encouraged to adopt intergenerational planning to ensure long-term sustainability and resilience against climate and market changes. Dr. Mandy Bell, head of New Zealand-based venture builder Criffel Futures, emphasizes
that traditional succession planning, which focuses on asset transfer from one generation to the next, often neglects the ecological systems crucial for farm productivity. Intergenerational planning, on the other hand, reframes farming as a long-term stewardship of these systems. Bell highlights that challenges such as biodiversity loss, greenhouse gas emissions, and food scarcity require solutions that span multiple generations. She argues that while intergenerational planning may seem complex due to competing interests, it is essential for the agriculture sector, which is often the first to feel the impact of climate volatility.
Why It's Important?
Intergenerational planning is crucial for the agriculture sector as it addresses long-term challenges that cannot be solved within a single generation. By focusing on stewardship rather than mere succession, farms can maintain ecological systems that underpin productivity and resilience. This approach is particularly important as agriculture faces increasing pressures from climate change and market fluctuations. The adoption of intergenerational planning can help ensure that farms remain viable and sustainable, benefiting not only the current generation but also future ones. It also encourages financial resilience, entrepreneurship, and community engagement, which are essential for supporting multiple generations over time. As climate volatility continues to affect food supply and prices, intergenerational planning can help mitigate these impacts and ensure food security.
What's Next?
For the agriculture sector to successfully implement intergenerational planning, stakeholders need to engage in facilitated group discussions that include farmers, connectors, facilitators, and experts. These discussions can encourage peer learning and help develop long-term strategies that are not reliant on top-down instruction. Smallholder farmers, in particular, are encouraged to have basic discussions about long-term goals, despite time and resource pressures. By writing down and revisiting these plans, farmers can ensure continuity and progress. The sector must also focus on the five pillars of intergenerational planning identified by Bell: financial strength, entrepreneurship, unity and harmony, education, and community contribution. These pillars can help guide the transition from traditional succession to a more sustainable, long-term approach.
