{"id":71721,"date":"2026-02-19T17:00:51","date_gmt":"2026-02-19T16:00:51","guid":{"rendered":"https:\/\/www.i4ce.org\/?post_type=publication&#038;p=71721"},"modified":"2026-02-20T10:06:50","modified_gmt":"2026-02-20T09:06:50","slug":"production-assets-resilient-sustainable-agricultural-food-sectors-investment-needs-stranded-assets-climate","status":"publish","type":"publication","link":"https:\/\/www.i4ce.org\/en\/publication\/production-assets-resilient-sustainable-agricultural-food-sectors-investment-needs-stranded-assets-climate\/","title":{"rendered":"Which production assets for more resilient and sustainable agricultural and food sectors? Which investment needs? Which stranded assets?"},"content":{"rendered":"<h2><span style=\"font-size: 20px;\">Report only available in French<\/span><\/h2>\n<h2><span style=\"font-size: 24px;\"><b>Investment choices in the agricultural and food sectors in the coming years will be decisive<\/b>\u00a0<\/span><\/h2>\n<p><b><span data-contrast=\"auto\">To ensure the long-term viability of their production and to cope with crises, the French agricultural and food sectors must evolve towards more resilient and sustainable systems<\/span><\/b><span data-contrast=\"auto\">. More resilient\u00a0in order to\u00a0reduce their vulnerability to increasing climatic and geopolitical shocks. More sustainable\u00a0in order to\u00a0reduce pressures on key agricultural production factors (climate, water,\u00a0soil\u00a0and biodiversity).<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">However, implementing this transition is extremely complex<\/span><\/b><span data-contrast=\"auto\">. It involves coordinating climate,\u00a0health\u00a0and environmental challenges with economic,\u00a0social\u00a0and geopolitical considerations, while aligning the specific characteristics of a wide range of sub-sectors (cereals, pulses, dairy cattle, pigs, etc.) and the diverse actors involved in them.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Anticipating investment is essential\u00a0in order to\u00a0implement this transition while limiting its cost<\/span><\/b><span data-contrast=\"auto\">. Fixed assets in the agricultural and food sectors have lifespans ranging from 5 to 80 years. Investing today in production facilities that prove unsuitable within 10 or 30 years would create or reinforce lock-ins, increase future investment requirements, or generate capital losses.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">The challenge is\u00a0even more\u00a0crucial as several waves of investment are currently underway or forthcoming in these sectors<\/span><\/b><span data-contrast=\"auto\">. On farms, the upcoming wave of new entrants is\u00a0very likely\u00a0to be accompanied by a wave of investment. Downstream, several investment plans are underway or forthcoming to modernise facilities, particularly grain storage, slaughtering, and milk processing installations.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\"><b>An existing stock of approximately \u20ac115 billion in agricultural and food production assets in France<\/b>\u00a0<\/span><\/h2>\n<p><b><span data-contrast=\"auto\">We estimate that in 2023 the value of production assets (buildings,\u00a0equipment\u00a0and plantations) dedicated to agricultural and food production in France amounted to approximately \u20ac115 billion<\/span><\/b><span data-contrast=\"auto\">.\u00a0Nearly half\u00a0of this stock is dedicated to agricultural production: tractors, milking parlours, livestock buildings, vineyard plantings, etc. An equivalent amount is dedicated to downstream activities, 70% of which relates to the \u201cimmediate downstream\u201d segment (collection, sorting, storage, slaughtering\/cutting, primary processing), whose infrastructure is inseparable from agricultural production. Finally, 4% is dedicated to upstream activities: fertiliser production, plant protection products, compound animal feed, and agricultural machinery and equipment.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Investment, amounting to approximately \u20ac25 billion in 2023, is particularly correlated with the economic cycle and primarily aims at efficiency gains<\/span><\/b><span data-contrast=\"auto\">. Investment on farms increased by 40% (excluding inflation) between 2017 and 2023, in connection with favourable economic conditions. These investments were\u00a0mainly made\u00a0in the largest farms and those specialising in dairy cattle,\u00a0pigs\u00a0and poultry. They have enabled gains in labour productivity. Downstream, companies are increasingly\u00a0consolidating\u00a0and are also investing to enhance competitiveness. Both on farms and in downstream firms, investment capacity is uneven.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\"><b>The transition affects production assets across all stages and value chains, calling for coordinated and planned investment<\/b>\u00a0<\/span><\/h2>\n<p><b><span data-contrast=\"auto\">Out of the total, \u20ac100\u00a0billion\u00a0of production assets across all stages and value chains are potentially affected by the transition<\/span><\/b><span data-contrast=\"auto\">\u00a0\u2014 not only to meet environmental objectives, but also to adapt to climate change and to improve France\u2019s independence in strategic products such as fertilisers, plant proteins (e.g.\u00a0soy), and fossil fuels.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Additional\u00a0investment will be\u00a0required, and a significant share of capital losses (stranded assets) could be avoided<\/span><\/b><span data-contrast=\"auto\">. However, the scale of these costs\u00a0remains\u00a0difficult to estimate \u2014 not only due to a lack of\u00a0consolidated\u00a0data, but also because the total amount depends on the type of transition pursued and the degree of planning and anticipation.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Coordination and planning of investments can help limit the cost of the transition<\/span><\/b><span data-contrast=\"auto\">. Indeed, the transition requires simultaneous changes across several value chains,\u00a0stages\u00a0and territories (Table). A single production asset may be affected by several transition levers: some requiring investment to optimise or improve it, others requiring replacement (Figure). Coordinated and planned investment choices could reduce the overall cost of the transition by\u00a0anticipating\u00a0needs and thus avoiding potential capital losses.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Public authorities have a role to play in orchestrating this transition: roadmaps guiding investment by\u00a0sub-sectors\u00a0and by\u00a0regions\u00a0are needed<\/span><\/b><span data-contrast=\"auto\">. A forthcoming part of this study, analysing the current orientation of public support for agricultural and food investment, will be published in the coming months.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\"><b>One-off investment needs to be integrated into the standard equipment renewal cycle<\/b>\u00a0<\/span><\/h2>\n<p><b><span data-contrast=\"auto\">The transition implies one-off investment needs, particularly in agricultural production assets<\/span><\/b><span data-contrast=\"auto\">. The total value of the production assets concerned currently amounts to approximately \u20ac80 billion. These include:<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Replacing the propulsion systems of agricultural machinery and the energy sources of downstream facilities.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Replacing or\u00a0modifying\u00a0specific equipment to improve and\/or optimise fertilisation practices, soil management, irrigation, plant protection treatments, and livestock effluent management.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Acquiring\u00a0new tools for the development of hedgerows and agroforestry (planting and maintenance equipment), for adapting livestock buildings and perennial crop activities (viticulture and arboriculture) to climate change, for energy production, and for securing water supply.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>A large share of these needs can be integrated into the standard equipment renewal cycle. This is the case for machinery, much of which will in any event be replaced by 2050 due to its\u00a0relatively short\u00a0lifespan. Transition\u00a0objectives\u00a0can therefore be incorporated into renewal decisions, albeit potentially at\u00a0additional\u00a0cost.<span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-size: 24px;\"><b>Infrastructure reconfiguration needs to be coordinated across value chains and territories<\/b>\u00a0<\/span><\/h2>\n<p><b><span data-contrast=\"auto\">The transition also entails more structural investment needs, affecting the configuration of buildings and perennial plantations and potentially generating stranded assets<\/span><\/b><span data-contrast=\"auto\">. The agricultural and food production assets affected by these more structural needs amount to approximately \u20ac70 billion. These include:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><span data-contrast=\"auto\">Reconfiguring grain storage buildings and facilities to adapt to the necessary diversification of crop production, including the development of pulses.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Reducing production capacity and\u00a0possibly relocating\u00a0part of livestock activities, both on farms and downstream.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Relocating part of perennial crops (vineyards and orchards) to more favourable climatic zones where incremental adaptation to climate change reaches its limits.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Reconfiguring input production facilities, certain livestock buildings, and downstream collection and processing tools to meet organic farming specifications.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><b><span data-contrast=\"auto\">Here again, part of the reconfigurations and relocations can be integrated into the standard renewal cycle, provided they are\u00a0anticipated\u00a0and coordinated<\/span><\/b><span data-contrast=\"auto\">. For example, in response to ageing facilities, grain collection operators are considering a major investment plan to renew silos whose lifespan can reach 80 years. The needs arising from crop diversification and the development of pulse value chains can be incorporated into this plan \u2014 not only to meet environmental\u00a0objectives, but also to adapt to climate change and strengthen France\u2019s strategic independence.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-71747 \" src=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Table-List-of-transition-levers-their-impacts-on-production-assets.jpg\" alt=\"\" width=\"1007\" height=\"1459\" srcset=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Table-List-of-transition-levers-their-impacts-on-production-assets.jpg 1341w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Table-List-of-transition-levers-their-impacts-on-production-assets-207x300.jpg 207w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Table-List-of-transition-levers-their-impacts-on-production-assets-707x1024.jpg 707w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Table-List-of-transition-levers-their-impacts-on-production-assets-768x1113.jpg 768w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Table-List-of-transition-levers-their-impacts-on-production-assets-1060x1536.jpg 1060w\" sizes=\"auto, (max-width: 1007px) 100vw, 1007px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-71748 \" src=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Fgure-A-complex-set-of-investment-needs-risks-of-stranded-assets-across.jpg\" alt=\"\" width=\"1007\" height=\"1465\" srcset=\"https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Fgure-A-complex-set-of-investment-needs-risks-of-stranded-assets-across.jpg 1334w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Fgure-A-complex-set-of-investment-needs-risks-of-stranded-assets-across-206x300.jpg 206w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Fgure-A-complex-set-of-investment-needs-risks-of-stranded-assets-across-704x1024.jpg 704w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Fgure-A-complex-set-of-investment-needs-risks-of-stranded-assets-across-768x1117.jpg 768w, https:\/\/www.i4ce.org\/wp-content\/uploads\/2026\/02\/Fgure-A-complex-set-of-investment-needs-risks-of-stranded-assets-across-1056x1536.jpg 1056w\" sizes=\"auto, (max-width: 1007px) 100vw, 1007px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Les choix d\u2019investissements des secteurs agricoles et alimentaires des ann\u00e9es \u00e0 venir sont d\u00e9terminants. Pour p\u00e9renniser leurs productions et faire face aux crises, les secteurs agricoles et alimentaires fran\u00e7ais doivent \u00e9voluer vers des syst\u00e8mes plus r\u00e9silients et durables. L\u2019enjeu est d\u2019autant plus crucial que diff\u00e9rentes vagues d\u2019investissements sont en cours ou \u00e0 venir dans ces secteurs. Dans cette \u00e9tude, I4CE a estim\u00e9 qu\u2019environ 100 milliards d\u2019euros d\u2019outils de production agricoles et alimentaires sont affect\u00e9s par la transition. Une coordination et une planification des investissements semblent incontournables, notamment pour en limiter les co\u00fbts.<\/p>\n","protected":false},"featured_media":71722,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false},"type_publication":[49],"class_list":["post-71721","publication","type-publication","status-publish","has-post-thumbnail","hentry","type_publication-climate-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Which production assets for more resilient and sustainable agricultural and food sectors? Which investment needs? 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Pour p\u00e9renniser leurs productions et faire face aux crises, les secteurs agricoles et alimentaires fran\u00e7ais doivent \u00e9voluer vers des syst\u00e8mes plus r\u00e9silients et durables. L\u2019enjeu est d\u2019autant plus crucial que diff\u00e9rentes vagues d\u2019investissements sont en cours ou \u00e0 venir dans ces secteurs. Dans cette \u00e9tude, I4CE a estim\u00e9 qu\u2019environ 100 milliards d\u2019euros d\u2019outils de production agricoles et alimentaires sont affect\u00e9s par la transition. 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