 The TIAA-CREF Center for Farmland Research will conduct research and
host academic symposiums focused on farmland prices and the
financial aspects of farm management. The center will serve as a
specialized academic unit within the university's College of
Agricultural, Consumer and Environmental Sciences. It will also
support Farmdoc, the university's widely read online research
program on the agricultural sector. An advisory board of TIAA-CREF
and university representatives will provide guidance for the center.
"TIAA-CREF and the University of Illinois share a long-term
perspective and a commitment to agricultural research," said Heather
Davis, head of TIAA-CREF's global private fixed income and equity
investments. "We are proud to collaborate with the university on
this venture, which will generate more of the sophisticated research
needed to drive long-term and sustainable practices by institutional
investors, businesses and farmers. Sustainable practices help ensure
that farmers increase productivity to meet rising demand for food
around the world, while maximizing land values over the long term."
"Farmers, educators and investors rely upon the University of
Illinois for leading-edge agricultural research," said Robert J.
Hauser, dean of the College of Agricultural, Consumer and
Environmental Sciences at the U of I. "The TIAA-CREF Center for
Farmland Research will help us create the tools needed to promote
sustainable and innovative agriculture practices and maintain our
status as the premier source for farmland research."
The center's research mission complements TIAA-CREF's long-term
commitment to sustainable investment in agriculture. The financial
services organization is a founding member of the Principles for
Responsible Investment in Farmland, a group of international
institutional investors that launched the principles in September
2011. These principles aim to improve sustainability, transparency
and accountability of investments in farmland. TIAA-CREF is also a
signatory to the U.N. Principles for Responsible Investment. The
organization owns a majority interest in Westchester, a global
agricultural asset manager, headquartered in Champaign, Ill.
Westchester manages more than 400 high-quality, diverse farmland
assets across the United States, Australia, South America and
Europe.
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Ongoing investment in agriculture continues to be important to
meet increasing demand for food, fiber and fuel from developing
economies and alternative energy mandates. By 2030, the world's
farmland will likely have to support a population of more than 8
billion people -- an increase that will require a 25 percent boost
in agricultural productivity.
TIAA-CREF owns or manages approximately $4 billion in
high-quality farmland -- more than 600 properties totaling more than
1 million acres -- in major grain-producing regions including the
United States, Australia, South America and Eastern Europe.3 The
firm typically leases the land to local farmers.
___
The University of Illinois is a world leader in research and
discovery and is the largest educational institution in the state,
with more than 76,000 students, 5,771 faculty and staff, and
campuses in Urbana-Champaign, Chicago and Springfield. The
university awards more than 19,000 undergraduate, graduate and
professional degrees annually.
TIAA-CREF is a national
financial services organization with $502 billion in assets under
management as of Dec. 31, 2012, and is the leading provider of
retirement services in the academic, research, medical and cultural
fields.
The University of Illinois College of Agricultural, Consumer and
Environmental Sciences offers many opportunities for students and
faculty to achieve success. More than 2,500 undergraduate students
and nearly 750 graduate students have the opportunity to network,
learn about careers and contribute to the life of the college.
Research at the College of ACES encompasses initiatives in bioenergy,
biotechnology, integrated landscapes, environmental sustainability,
food and agricultural systems, global climate change, family
resiliency, public policy, and more.
[Text from
TIAA-CREF news release
received from
University of Illinois College of Agricultural, Consumer and
Environmental Sciences]
This material is for informational purposes only and should not be
regarded as a recommendation or an offer to buy or sell any product
or service to which this information may relate. |
