Annual Report 2016
"2016 was one of the most iconic years in the organization’s history to date."Marie Haga
Executive director of the Crop Trust
Crop varieties added+43K
Crop Wild Relatives collected1,5K
Grants provided for conservationUSD 32,4M
Contributions+ USD 23,9M
Updated accessions in Genesys2,1M
Crop accessions distributed72K
Countries receiving samples102
"We on the Executive Board certainly felt the energy this year, and also the heat."
"Vavilov's insight, that crops are citizens of the world, still holds the power to inspire."
What we do
Global Genebank Partnership
The Crop Trust is building an effective, sustainable global system to conserve the world’s crop diversity forever.
Quality Management Systems
“If you’re a genebank, however small, you need a quality management system. You can’t leave anything to chance. Seeds are too precious.”
Crop Wild Relatives
"The future of food fundamentally depends on these plants, and we all share a common interest in ensuring their productivity and resilience."
What we do
Svalbard Global Seed Vault
“In a rapidly changing world, it’s wonderful to see a renewed commitment from partners to safeguard their resources in the Svalbard Global Seed Vault."
“It doesn’t help to have the most perfect crop collections in the world, if no one knows what they contain. That is why information systems are so important.”
The result of global conservation strategies is an improved understanding of threats to diversity and an actionable strategy for progress.
The Crop Trust
“The Crop Trust is very fortunate to benefit from a multifaceted and inclusive governance structure.”
The Crop Trust is committed to securing our food, together.
"2016 was one of the most iconic years in the organization’s history to date. I am extremely proud of the strides we made in growing our ever-important network of partners."
The effects of climate change put crop diversity front and center. Diverse crops enable farmers to provide adequate food and nutrition, not only for their families but for others as well.
Spreading the message
It matters not what continent we live in, nor where our favorite crop comes from – e.g. maize from Mesoamerica, rice from Southeast Asia, wheat from the Fertile Crescent. We all eat. And we all benefit from crop diversity.
We are deeply grateful for all contributions and pledges of all sizes because they show the continued power of the hope we all share, a hope for a food secure world.
Grants to conserve crop diversity world wide increased in 2016
Securing our food, forever
Platz der Vereinten Nationen 7
The Crop Trust is fortunate to have support from across the world all dedicated to realizing one common vision: a food secure world.
The Crop Trust would like to thank the following people for their support for this year’s annual report: Ambassador Walter Fust, Mary Ann Sayoc, the Crop Trust Staff, Scriptoria, Epic Agency, In Fine Co/Creative Agency and Getty Images Reportage.
53113 Bonn, Germany
Running the numbers
The Crop Trust supports the world’s most important collections of crop diversity with annual funding. That includes time-bound projects and long-term programs targeted at crop diversity protection in genebanks. In 2016, USD 32.4 million or 95% of all expenditures of the Crop Trust were a result of program activities.
Supported were collections of banana, barley, bean, cassava, chickpea, edible aroids, faba bean, forages, grasspea, lentil, maize, pearl millet, rice, sorghum, sweet potato, wheat and yam. These grants employ more than 1,000 people across the globe.
Cost effectiveness is vital in order for the Crop Trust to continue to earn the trust of its donor partners. In 2016, the Crop Trust Secretariat incurred operational expenditures for fund management and general services of USD 1.7 million or 5% of all expenditures of the Crop Trust.
The Endowment Fund
The Investment Objectives and Policies of the Crop Trust permit the annual withdrawal of up to 4% of the average market value of the Crop Diversity Endowment Fund over the previous twelve quarters. In 2016, 1.4% was released, funded by Endowment Fund income. A grant from the US Agency for International Development covered USD 0.6 million of operational expenditures in 2016.
The Crop Trust is an official signatory to the United Nations Principles for Responsible Investing (UNPRI), an international framework for incorporating sustainability into investment decision-making. The Crop Trust believes that application of the UN PRI Principles improves alignment of the investment portfolio with its overall mission and with the broader objectives of society.
In 2016, the Crop Diversity Endowment Fund increased further to reach USD 188 million, an increase of USD 30.6 million from 2015. Much of this was due to new contributions received from donors, complemented by considerable investment income earned on the endowment. Further donor pledges were received in 2016, which we expect to result in additional cash contributions during 2017.
In 2016, following a detailed procurement exercise, two new investment managers were appointed for the Crop Diversity Endowment Fund, each sharing half of the portfolio. Portfolio performance is reported quarterly to the Crop Trust’s Finance and Investment Committee who reports to the Executive Board.
The financial statements of the Crop Trust are prepared with reference to International Financial Reporting Standards (IFRS). The Crop Trust is working with our external auditors PricewaterhouseCoopers (PwC) to implement full IFRS reporting for the next financial year.
PwC has confirmed that the Crop Trust’s accounting policies are clear, transparent and easy to understand. The Finance Office, in collaboration with PwC, will continue to ensure that accounting policies being applied in the financial statements are consistent with best practice.
PwC, the Crop Trust’s external auditors since 2013, have audited the financial statements of the Global Crop Diversity Trust for 2016 and provided again an unqualified audit opinion with no management letter points identified, as in prior years. The full Financial Statements and Independent Auditor’s Report can be downloaded below.