&Green announced its first Brazilian and cattle sector transaction in June 2020. Agropecuária Roncador Ltda (Roncador) is a cattle and soy farmer operating on a farm of approximately 150,000 hectares in the State of Mato Grosso in Brazil. &Green has financed Roncador for the upscaling of its sustainable farming system that integrates crops (predominantly soy) with livestock (“ICL”) to their full farming operations. In addition, the project includes the recuperation of degraded pastures.


Agropecuária Roncador Ltda (Roncador)
Upstream Cattle and Soy
E&S Risk Category
&Green Investment
USD 10 million loan
Investment Term
8-year tenor
Financial Structure
&Green provided a 8-year long term senior secured loan


Tables summarizing the portfolio’s total impact progress following the previous and the revised KPI frameworks are available in the Annual Impact Report.

&Green invests in projects that approach land management from a regenerative agriculture perspective. Regenerative agriculture broadly refers to the adoption of production practices that understand the availability of the land’s natural resources, increase biodiversity, prioritize soil health and fertility, sequester carbon, and reduce or eliminate the use of pesticides. The principle behind regenerative agriculture is to protect and restore ecosystems’ health, instead of depleting it, therefore contributing to combating climate change, which aligns well with &Green’s vision to transform tropical commodity supply chains.

Roncador’s production blueprint is a great example of how regenerative agriculture practices can be adopted in &Green’s investments:

At the core of the Roncador Landscape Protection Plan is the upscaling of an Integration Crop and Livestock (ICL) model: a form of mixed production that simultaneously utilizes part of the land for agriculture, namely soybeans and second-harvest maize, and part of the land for cattle, for the other (approximately) 6 months of the year. The overarching objective of the ICL model is to transition from monoculture (pasture) production to one that integrates components of different productive systems to achieve increasingly higher levels of product quality, environmental quality and competitiveness. ICL systems are a promising strategy to direct the expansion of pasture and crops towards already deforested areas and promote agricultural practices that can intensify production sustainably. By combining crop and livestock activities in the same area, farmers are able to increase fertility and organic matter in the soil. This favors biomass production and allows for higher stocking rates in pasturelands and higher productivity for grain cultivation. Such increase in the system’s total productivity represents a direct advantage for farmers if it can be translated into higher economic returns and soil conservation over the longer run.


Ecological & Environmental Benefits


Improved use of natural resources through synergy between animal and plant components;


Improved physical, chemical and biological properties of soil thanks to increase of organic matter;


Greater input efficiency;


Reduced agrochemicals use to control insect pests, diseases, and weeds;


Reduced pressure to clear and open new areas for agriculture;


GHG mitigation resulting from increased sequestration capacity;


Reduced erosion risk.

Economic and Social Benefits


Increased yield and production quality;


Increased annual food production at lower costs;


Reduced production seasonality;


Reduced variability of herd size, less outsourcing needs and reduced sensitivity to market cycle and market prices for procurement.


Increased competitiveness of animal product chains in national and international markets;


Diversified commercial activities;


Enhanced public image of farmers, linked to environmental awareness.

See how regenerative agriculture practices were adopted in the HSJ transaction.


Establishment of the ESMS

During 2021, Roncador professionalized by building an integrated Environmental and Social Management System’s (ESMS) to formalize Roncador’s existing approach on the ground. The ESMS is in line with the impact commitments made to &Green and using the IFC Performance Standards . Roncador’s initial third-party independent audit will be carried out in the first quarter of 2022 to assess the alignment of Roncador’s 2020 and 2021 ESAP submissions, including its ESMS , against the IFC Performance Standard.

Implementation Of  The LPP

Roncador’s Landscape Protection Plan (LPP) is based on the company’s farming system, which integrates crop production (predominantly soy) with livestock production (i.e. Integrated Crop and Livestock or “ICL”) on all of the farm’s productive areas. Impact targets linked to the ICL model include soy and cattle productivity improvements as well as annual information sharing activities to support the replication of this blueprint within the sector. Through the advocacy and information dissemination work carried out in 2021, one of the activities required by its LPP, Roncador showcased the benefits that the implementation of such a blueprint brings to production practices. In 2021, the communication campaigns to promote the ICL model and the protection/restoration of the forest included the participation of the CEO of Grupo Roncador at two webinars (DBO; Campo & Negocios) and a ESG conference organized by UBS Brazil; reports in mass-circulation newspapers – including the leading weekly publication in Brazil, Veja, and third largest daily newspaper in the country, Estadao, and reports directly available on the company’s website. In 2021, Grupo Roncador was also included in the Financial Times ranking of America’s 500 fastest growing companies.


In May 2021, following a judicial dispute initiated in 1994, Roncador lost to INCRA (National Institute of Colonization and Agrarian Reform) the ownership and possession over 4,500 hectares of native forest so far included as part of…


In 2021, several fire alerts were registered inside Roncador’s farm boundaries and riparian areas. Of particular significance was a fire inside Roncador’s farm in September 2021 caused…

In 2021, Grupo Roncador has continued to use and improve a system that integrates regenerative and high-tech agriculture and livestock, a model that has proven to be effective in increasing food production. &Green's financial support was important to help us upscale our integrated farming system. Improving land use strategies, supporting people, and taking care of the environment are priorities for Roncador and, together with partners such as &Green, we aim to positively influence other farmers to adopt sustainable production practices that protect forests and biodiversity and are socially inclusive.


CEO of Grupo Roncador

To top