2006 - Monsanto

’06 

Pledge Report 

The Sum of 

Our Commitments

The Monsanto Pledge 

INTEGRITY 

DIALOGUE 

TRANSPARENCY 

SHARING 

BENEFITS 

RESPECT 

ACT AS OWNERS 

TO ACHIEVE RESULTS 

CREATE A GREAT 

PLACE TO WORK 

ABOUT THE COVER: Sales representative José Aurélio (right) 

speaks with soybean grower Almir José Rebelo de Oliveira 

at his farm in Tupanciretã, Rio Grande do Sul, Brazil. 

Integrity is the foundation for all that we do. Integrity includes honesty, decency, 

consistency, and courage. Building on those values, we are committed to: 

We will listen carefully to diverse points of view and engage in thoughtful dialogue. 

We will broaden our understanding of issues in order to better address the needs 

and concerns of society and each other. 

We will ensure that information is available, accessible, and understandable. 

We will share knowledge and technology to advance scientific understanding, to 

improve agriculture and the environment, to improve crops, and to help farmers 

in developing countries. 

We will use sound and innovative science and thoughtful and effective stewardship to 

deliver high-quality products that are beneficial to our customers and to the environment. 

We will respect the religious, cultural, and ethical concerns of people throughout the 

world. The safety of our employees, the communities where we operate, our customers, 

consumers, and the environment will be our highest priority. 

We will create clarity of direction, roles, and accountability; build strong relationships 

with our customers and external partners; make wise decisions; steward our company 

resources; and take responsibility for achieving agreed-upon results. 

We will ensure diversity of people and thought; foster innovation, creativity and 

learning; practice inclusive teamwork; and reward and recognize our people.

FACING GLOBAL 

CHALLENGES 

An exploration of tools 

to meet the global 

challenges of food 

self-sufficiency, energy 

demand, a healthy 

environment, and 

healthier foods. 

PAGE 3 

The Sum of Our Commitments 

1 + 2 + 3 

CHALLENGES VALUE ACTION 

The principles expressed in the Monsanto Pledge 

are enduring.They guide our efforts to help society face 

global challenges, to deliver value to our customers and society, 

and to demonstrate integrity as we take action. 

This is the sum of our commitments. 

DELIVERING 

VALUE 

An analysis of how 

our processes and 

products deliver societal, 

environmental, and 

economic value. 

PAGE 21 

MONSANTO 2006 PLEDGE REPORT 1 

TAKING ACTION 

A look at the ways our 

employees take action, 

internally and externally, 

demonstrating their 

commitment to 

our Pledge. 

PAGE 33

2 THE SUM OF OUR COMMITMENTS 

Letter to Stakeholders 

November 2005 marked the fifth anniversary of 

the announcement of our Monsanto Pledge. The 

Pledge evolved from long-standing commitments 

to safety, environmental protection, customer 

service, first-class research, and product stewardship 

that had served as hallmarks of our work for 

many years. And it addressed what stakeholders, 

including our own people, said they wanted to 

see in the way we operated as an agricultural technology 

leader. We listened, we took their counsel 

seriously, and we continue to build our culture on 

those values. After five years, the Pledge is helping 

us to convert values to actions and results, and to 

make clear who we are and what we champion. 

Over these five years, we’ve grown as a company, 

not only in numbers of products and acres of 

biotech crops in production, but also in ways that 

put our values to work every day. We continue to 

squeeze the waste out of our manufacturing operations, 

making our processes more efficient and 

cleaner. We’ve brought better seeds and new 

choices to farmers in developed and developing 

countries — to help them grow more food, spray 

fewer pesticides, and improve their economic 

opportunities. We’ve responded to climatic disasters 

in our global communities, from tsunamis and 

hurricanes to earthquakes, through contributions 

of people, products, and money. 

But it is not only the big actions that define us. 

It is also the thousands of daily decisions our 

employees make as they do their jobs: how they 

involve people in dialogue on issues that may 

affect them, how they seek out opportunities 

“After five years, the Pledge is helping us to 

convert values to actions and results, and to make 

clear who we are and what we champion.” 

to share information and expertise where they 

think they can help. Simply put, it is about how we 

apply our values to our work. This report features 

many examples of the Pledge in practice. 

Obviously, we still have challenges. They include 

how to secure our intellectual property in parts 

of the world where the legal protection is not yet 

mature. We also want to work with development 

organizations to share our seeds and expertise 

in ways that result in better food security and 

economic opportunity for those that need them 

most, and to develop them in a parallel timeframe 

with developed countries. Currently, the traditional 

model of sequential product development results 

in decade-long delays in places like Africa. 

It is critical for us to do these things well over 

the next five years and beyond. We intend to 

do them with integrity, applying our values and 

listening closely to our advisory councils and 

our many stakeholders around the world. In 

many ways, we’ve only just begun the work 

of the Pledge. 

Sincerely, 

HUGH GRANT 

Chairman, President, and Chief Executive Officer

1 

Corn farmer Jesus Gavino in Lubao, 

Pampanga, the Philippines. 

Facing Global 

Challenges

4 FACING GLOBAL CHALLENGES 

Facing global challenges is essential 

if humanity is to survive and improve 

the quality of people’s lives around 

the world. The global population of 

6.5 billion is expected to grow to 9 billion by 2050. 1 

1 

This unprecedented growth places increasing 

demands on the earth. 

Despite advances over the past century, many people cannot earn enough money 

to purchase food, and they do not have the resources to grow enough food to feed 

their families. Energy demand is increasing while the world’s supply of petroleum 

is becoming uncertain. The environment is struggling to compensate for the toll 

that human consumption takes on raw 

materials, energy, and agriculture. Finally, 

vast numbers of people have grown reliant 

on easily accessible but nutritionally 

poor foods. 

Monsanto is just one organization that is 

helping the world face the challenges of 

increasing food self-sufficiency, meeting 

energy demand, improving environmental 

health, and creating healthier foods. 

GLOBAL CHALLENGE FACTS 

800 MILLION PEOPLE chronically undernourished in the 

developing world 2 

71% EXPECTED INCREASE in energy use by 2030 3 

40% DECREASE in sea ice thickness observed 

since 1970 4 

29% OF GLOBAL DEATHS were attributed 

to heart disease in 2003 5

Poverty Alleviation/ 

Food Self-sufficiency 

Hunger, poverty and food insecurity have been linked to low 

agricultural productivity of subsistence farmers around the world. 

We, at Monsanto, are in a unique position to help growers increase 

food production with modern agricultural tools.We are working to 

deliver the benefits of these tools to Africa, a continent that faces 

many challenges but which has great potential to reduce poverty 

and become self-sufficient in agriculture. 

Hope Lives on an African Farm 

Millions of subsistence farmers in sub-Saharan 

Africa invest their time and labor tilling their small 

fields, planting poor-quality seeds, and hand-hoeing 

weeds in hope of harvesting enough food to survive. 

Drought and lack of good agricultural products 

often thwart their efforts. The average maize yield 

for a farmer in sub-Saharan Africa is one tenth of 

that realized by farmers in the United States and 

Europe. Low yields and small farms result in a 

“hunger season” of several months before each 

new harvest. 


The cost for food aid to feed a family 

of 6 for one year in Malawi is $400. 6 

The cost for quality hybrid seed and 

fertilizer for a family of 6 to feed itself 

for one year in Malawi is $40. 6 

$ 400 $ 40 

food 

aid 

vs. 

Comparison of corn ears from a Monsanto hybrid 

(left) and a traditional open-pollinated variety in 

Malawi, March 1, 2006. 

With nothing to invest and no surplus to sell, 

farmers are trapped in a poverty cycle. They lack 

the means to purchase high-quality inputs that 

could make their farms more productive. Up to 

70 percent of the poor people in Africa are 

farmers, so low agricultural productivity is a 

major contributor to poverty on the continent. 7 

Agriculture is a wealth-creating investment that can 

help break the poverty trap. Last year the Monsanto 

Fund donated $1 million to the World Food Program 

for drought-relief food aid in Malawi, a small inland 

country in sub-Saharan Africa. The actual cost to 

purchase and deliver a ton of maize to feed a 

farm 

inputs


family of six for a year was $400. 6 This year 

Monsanto donated quality hybrid maize seed to 

farmers in Malawi. The cost to grow a ton of maize 

was $40: $7.50 for quality seed and $32.50 for 

fertilizer. 6 This comparison — spending $400 versus 

spending $40 — builds a compelling case for 

investment in agricultural productivity. 

“Helping farmers grow better crops feeds 

more than just their stomachs. It feeds their 

dignity, their sense of pride and their hope 

for the future,” said Robert B. Horsch, Monsanto 

Vice President, International Partnerships. “As a 

leading provider of agricultural tools, we at Monsanto 

have an opportunity to help people help themselves 

to make an impact on hunger and poverty in Africa.” 

70 % 

Income spent on food: 70 percent 

in developing countries versus 

10 percent average in the United 

States. 8 Increased agricultural 

productivity improves quality-of-life, 

education, and community development. 

300 million people 

in sub-Saharan Africa are surviving on 

less than one dollar a day. 9 

Monsanto’s Vision 

Our vision is to enable access to improved 

agricultural tools to farmers who cannot currently 

obtain them through commercial channels. Some 

of these tools already exist — such as quality 

conventional hybrid maize seed and seeds with 

biotechnology traits like insect resistance. These 

tools can have a real, immediate impact, but many 

farmers in Africa cannot access them due to lack 

of information and the necessary regulatory and 

commercial infrastructure. 

An important future agricultural tool currently 

under development is drought-tolerant (DT) 

maize. Drought is a leading cause of hunger in 

Africa. Monsanto’s development of DT maize will 

generate significant benefits for growers, including 

smallholders in developing countries who have the 

choice to buy our products. Given our history of 

sharing and the food security potential of this technology, 

we believe that it is critical to provide this 

technology to farmers in sub-Saharan Africa who 

cannot access it through commercial markets. 

We cannot reach those farmers even on a humanitarian 

basis, however, without major changes in 

the conditions and policies in sub-Saharan Africa. 

Unless steps are taken now to establish functional 

regulatory capacity and seed delivery systems, 

it is unlikely that these farmers will be able to 

benefit from DT technology without another 

decade or more of sequential efforts after the 

U.S. commercial launch. 

Monsanto initiated a broad stakeholder dialogue 

to gain guidance about how to overcome these 

challenges. We consulted many organizations 

involved in development and poverty alleviation 

including non-governmental groups, research 

institutes, foundations and private companies. We 

also consulted extensively with our Biotechnology 

Advisory Council (see page 40). 

In 2005 we joined the Clinton Global Initiative led 

by former U.S. President Bill Clinton and laid out a 

plan for a new public-private partnership for African 

agricultural development to reduce hunger and

Viewpoint: Chronic Food Insecurity 

The Millennium Villages Project in Malawi 

Rebbie Harawa, Millennium Development Village Coordinator, Malawi 

Malawi is among the most food-insecure countries in the world. Maize accounts 

for 72 percent of the calories in the daily diet in Malawi. The country has had 

increasing difficulty in growing enough maize. Production levels are not keeping 

pace with population, which doubled from 6 million to 12 million between 1977 

and 2000. The intense population pressure has led to reduced farm sizes. The 

average smallholder currently farms less than 0.8 hectare. Poor-quality seed and lack of modern inputs 

such as chemical fertilizers, which are unaffordable for many farmers, compound low maize productivity. 

In response to the chronic food insecurity, in early 2005, professor Jeffrey Sachs, and advisor to United 

Nations Secretary-General Kofi Annan and leader of the Earth Institute at Columbia University, came to 

Malawi to start the Millennium Villages Project. Together with the Malawi government, the United Nations 

and the Earth Institute established Millennium Villages in the rural communities of Zomba, Dedza, and 

Mzimba. Their objective was to eliminate hunger and malnutrition by increasing the production, access, 

and utilization of nutritious foods. The project provided an agricultural input package containing 100 kg 

of chemical fertilizer and 10 kg of hybrid maize, enough seed to cover 0.5 hectare of land. The seed was 

a generous donation from Monsanto Company. A total of 12,000 households, serving a population of 

more than 60,000, benefited from these inputs. 

Extension staff from the Sasakawa-Global 2000 and the Ministry of Agriculture provided technical assistance 

to the farmers during the growing season. The result was a bumper harvest. One local farmer 

commented, “Since I was born in this village, I have never seen a good maize crop like the one 

I have seen this year.” The project team measured the average maize yield in the Millennium Villages 

at 5.5 tons per hectare. That is a 500 percent increase over the average yield of 0.8 tons per hectare 

which farmers get when they cultivate the local (open-pollinated) maize without chemical fertilizer. Most 

of the Millennium Villages have surpluses. The project is currently working on marketing, to ensure that 

this surplus maize fetches a good price for the farmers. 

The high yields that have been observed in the Millennium Villages 

do not come as a surprise. In recent years, it has been established that 

Malawi’s maize production needs modern farm inputs. The country 

has had 1.2 million to 1.5 million hectares planted with maize for 

the past six years: 58.21 percent in local varieties, 8.94 percent in 

composites, and 32.85 percent in hybrids. However, hybrid production 

accounts for more than half (54.58 percent) of the total maize 

output. We need to support smallholder maize production with 

modern farm inputs, especially in initial stages, so that smallholder 

farmers can become food-secure. 

MONSANTO 2006 PLEDGE REPORT 7


Donations Chart 

AUG. 2005 

$ 1.0M USD 

The Monsanto Fund donated 

cash to the World Food Program 

for emergency food aid to the 

poor and drought-affected 

population in Malawi. 

DEC. 2005 

$ 840,000 USD 

We gave 700 metric tons of 

quality hybrid maize seed to 

the Malawian government and 

several NGOs for distribution. 

It was distributed to 140,000 

farmers. The expected yield 

over 5 metric tons/hectare 

— enough to feed 1 million 

people for 1 year. 

poverty and build capacity for sustainable 

economic growth. The plan has three phases: 

PHASE I: Improved access to quality hybrid maize 

seeds to help farmers in Africa achieve current 

standards of ag productivity and sustainability. 

The United Nations Millennium Project task force 

on hunger recommended access to quality seeds 

as a key area for improvement. 

PHASE II: Improved access to existing biotechnology 

traits, such as insect protected corn and 

cotton, in which the plants protect themselves 

from the pests. These products have been used 

by millions of farmers around the world for over 

a decade and have brought significant benefits 

to smallholders farmers in Asia and South Africa. 

820 metric tons 

of seed, worth $980,000, were donated to 

resource-poor farmers in Malawi in 2005. 

DEC. 2005 

$ 140,000 USD 

We provided 120 metric tons 

of seed to the Millennium 

Development Villages. It was 

distributed to 12,000 farmers. 

PHASE III: Help sub-Saharan countries prepare to 

be able to use drought tolerance technology — in 

parallel with the U.S. We believe that drought 

tolerance will have a particularly important role 

to play in food security. 

Within one year, the project has matured from an 

idea that generates great enthusiasm to a multitiered 

plan that generates action. “Our vision is to 

make available quality drought-tolerant white maize 

seed without royalty to smallholder farmers in Kenya 

and Malawi within three years of the U.S. launch. 

Our three-part plan and multiple partners will help 

lay the foundation for DT maize and enable the 

policy changes necessary to make this vision a 

reality,” said Natalie DiNicola, Monsanto director 

of International Partnerships. 

It All Starts With Better Seed 

2006-2010 

Up to $ 1.5M USD 

Monsanto pledges 240 tons 

of quality hybrid maize seed 

to fulfill the needs of 24,000 

smallholder households each 

year for four more years. 

The first step is to deliver high quality hybrid maize 

seeds to resource-poor farmers. In December 2005, 

Monsanto donated 700 metric tons of conventional 

quality hybrid maize seed to 140,000 resource-poor 

farmers in Malawi in response to the severe drought. 

The Malawian government provided the fertilizer. 

Distribution was handled by the government and 

several nongovernmental organizations. The 

harvest exceeded five tons per hectare, significantly 

greater than the three-quarters to one ton

typically harvested by those farmers. Collectively, 

the harvest from the quality hybrid maize seed 

yielded enough to feed a million people for 

one year. 10 

In addition, Monsanto became a founding member 

of the Millennium Promise, a nonprofit organization 

created by Jeffrey Sachs, Ph.D., special advisor 

to U.N. Secretary General Kofi Annan, to improve 

the lives of the poorest farmers in about 100 

“Millennium Villages.” 

We donated 120 metric tons of seed to the 

Millennium Villages in Malawi for immediate planting 

by more than 12,000 farmers. The Millennium 

Village program secured funding for fertilizer and 

provided training in best farming practices. 

Going forward, Monsanto has pledged 240 tons 

of quality hybrid maize seed to fulfill the needs of 

24,000 smallholder households, or 120,000 people, 

each year for four more years. The total donation 

is valued at $1.5 million. 

Helping Growers Worldwide 

Drought-tolerant Crop Progress 

Growers in both developed 

and developing countries 

eagerly anticipate droughttolerant 

crops. These crops 

will remove some of the uncertainty 

of farming by reducing 

drought-induced yield losses in 

years when moisture is limited. 

The result will be greater yield 

consistency with a higher 

average yield under waterdeficit 

conditions. 

We are pursuing multiple 

approaches to drought tolerance. 

These include enabling plants to 

continue to photosynthesize the 

Beyond Hybrids 

sun’s energy and convert it 

to food even under low soil 

moisture, when nontolerant 

plants would be shutting down. 

We are in the fourth year of 

field-testing in corn, and we 

are also developing drought 

tolerance for soy and cotton. 

“The trait is being introduced 

into diverse germplasm and 

undergoing multiyear testing, 

characterization, and quality 

control,” said John Headrick, 

Monsanto development team 

lead for drought-tolerant corn. 

“This testing, together with 


For Africa to keep pace with improved-trait crops in 

the next decade, countries need to build biosafety 

laws, research capacity to authorize field trials, 

and training for farmers in best management and 

stewardship practices. 

Field trials are currently taking place in a number 

of African nations. “There is still some fear of the 

unknown where misinformation about biotech crops 

exists,” said Kinyua M’Mbijjewe, Monsanto’s African 

public and government affairs lead. “But the more 

farmers see what the tools of modern agriculture 

can do for them, their families, their communities, 

and their country, the more they want them.” 

Monsanto is just one player among many whose 

contributions and talents will be needed. But as 

we create synergy out of the pieces that each party 

brings to the table, we help Africa toward its goal 

of food self-sufficiency and poverty alleviation. 

With Gene Without Gene 

submissions and approval from 

regulatory agencies, is necessary 

before commercialization.” 

Field trials so far have taken place 

only in the United States. When 

national biosafety laws allow it, we 

will begin working with African 

countries to develop droughttolerant 

traits in maize varieties 

that are suited for maize-growing 

regions of the continent.


Energy Demand 

Demand for energy is increasing globally. 

Mechanized equipment is fast replacing 

hand labor in the developing world, and 

everywhere people are becoming more 

dependent on electricity and powered 

transportation. From 2002 to 2004 — 

in just two years’ time — world demand 

for petroleum increased 5.3 percent. 11 

In the United States, it is estimated 

that demand for truck transit will 

increase by 56 percent and demand 

for rail transit will increase by 

17 percent during the next 

10 years. 12 For these reasons, 

many are seeking ways to 

maintain plentiful energy. 

37 % 

U.S. transport fuel 

could be provided 

by biofuels. 11 

40 % 

of Brazil’s non-diesel 

fuel is ethanol. 11

Renewable Fuels Improve Environment 

and Energy Sufficiency 

As our lives become more reliant on energy, leaders 

of many countries are beginning to advocate policies 

that encourage energy conservation and 

promote energy security through increased use 

of renewable sources. Renewable fuels, such as 

ethanol made from plant matter and biodiesel 

made from vegetable oils, capture the daily energy 

from the sun and convert it to forms we can use. 

In the United States, a desire to reduce the nation’s 

dependence on foreign oil led the Congress in 

2005 to legislate a renewable fuels standard, which 

requires 7.5 billion gallons of renewable fuels by 

2012. 13 In Brazil, a long-term effort to develop a 

sugarcane-based ethanol industry is bearing 

results. The country has saved an estimated 

$121.3 billion in imported petroleum costs and 

related debt since 1976 11 and in 2006, Brazil is 

reported to have achieved energy independence. 14 

Ethanol is a naturally occurring alcohol created 

during the fermentation of organic matter. It has 

been used as a fuel source for more than 100 

years. 15 Only recently have nations considered 

it a potential contributor to their energy supplies, 

however. The commercial ethanol industry is 

expected to continue to grow to more than 

10 billion gallons by 2015. 12 Most U.S. ethanol 

research has involved corn. Ethanol accounts 

for 10 percent of all U.S. corn use today; by 

2015, it is expected to account for 30 percent 

of all corn use. 12 

In addition to its benefits as a renewable source 

of energy, ethanol provides environmental benefits 

in that the corn grown to produce it often utilizes 

conservation tillage methods. This reduces the 

atmospheric levels of greenhouse gases through 

carbon sequestration. In fact, corn ethanol has the 

potential to reduce fuel-related greenhouse gasses 

by 13 percent. 11,16 

Ethanol is just one part of a sound energy policy. 

Combined with sensible conservation efforts and 

other renewable and alternative forms of energy, 

ethanol can help nations reduce their dependence 

on nonrenewable petroleum energy and mitigate 

the effects of carbon dioxide emissions. 

Ethanol is widely available in blended fuels as E10, 

a blend of 90 percent gasoline and 10 percent 

ethanol. Ethanol serves as an oxygenate in this 

formulation, helping gasoline burn more cleanly 

and reducing tailpipe emissions. E10 can be used 

in all standard gasoline engines. E85, a blend of 

85 percent ethanol and 15 percent gasoline, is 

becoming more widely available in the United 

States too. E85 can be used in any vehicle 

designated as “flex-fuel” capable. More information 

on E85 and flex-fuel vehicles is available 

at www.e85fuel.com. 

GROWTH IN U.S. CORN YIELD, 1970-2015 

(bushels per harvested acre) 

Actual 1973-2004 Trend 1990-2004 Trend 

Corn yield is one of the largest contributors 

to cost efficient corn-based ethanol output. 

225 

175 

125 

75 


1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 

Source: Bill Hudson, ProExporter Network 

Our Technology Improves Ethanol 

as a Source of Renewable Energy 

At Monsanto, we provide solutions that improve the 

productivity of the ethanol value chain. We provide 

farmers with corn seed genetics that have high yield 

potential, and we offer insect and weed traits to 

protect this potential. Our products for starch-based 

ethanol production provide benefits to farmers, 

processors, and fuel distributors. Ultimately, these 

benefits will help bring consumers a renewable 

fuel that also has a low environmental impact. 16 

Early use of ethanol as fuel raised questions 

about the efficiency of the technology as a source 

173 

164


ETHANOL YIELD IMPROVEMENT THROUGH HIGH FERMENTABLE CORN 

#2 Yellow Corn Processor Preferred 

Comparison of an ethanol-processing plant using conventional corn (left) and one using Processor Preferred 

High-Fermentable Corn (right). The higher starch content of Processor Preferred High-Fermentable Corn allows 

processors to produce more ethanol from a bushel of corn. 

Processor Preferred Hybrids 

Number of Samples 

1,000 

800 

600 

400 

200 

45.00 46.00 47.20 48.20 49.20 50.20 51.20 52.20 53.20 54.20 55.20 

Predicted Ethanol Yield (nit units) 

Source: Monsanto Company 

of renewable energy. However, continuous 

improvements to crop yield and starch processing 

have lessened this concern over the past few 

years. 11,16 Increasing farm yield improves the efficiency 

of grain-based ethanol production by 

reducing the input costs required to produce a 

bushel of corn. Average corn yield has increased 

steadily, and Monsanto has contributed to this 

increase through the development of corn genetics 

optimized for yield and through the development 

of biotech traits that reduce crop exposure to pests 

(see table, page 11). 

In addition to improving grain yield, we have 

developed Processor Preferred High-Fermentable 

Corn: corn hybrids that improve refinery yield by 

producing 2 to 4 percent more ethanol per bushel 

of corn than conventional feed corn does. High 

farm yields plus the higher refinery yields improve 

our ability to produce ethanol from corn grain. 

To increase the efficiency and availability of ethanol, 

we support a network of more than 40 U.S. ethanol 

plants that promote Processor Preferred corn 

hybrids. We have also developed corn grain 

calibration software for ethanol plants to improve 

their predictions of ethanol yield. 

Ethanol production results in a byproduct called 

distillers’ dried grains (DDGs). DDGs are used 

as livestock feed in limited amounts for certain 

150 

120 

animals. Monsanto and Cargill, through a joint 

venture called Renessen, are developing 

technology to improve the quality of DDGs. This 

will enable the DDGs to be used in higher amounts 

in animals such as swine and poultry. This enables 

the corn processed for ethanol to provide additional 

feed and ultimately food benefits. 

Advancements in the corn ethanol processing 

system help improve ethanol’s fuel efficiency 

and bring value to farmers, processors, energy 

consumers, and society. In addition, this value 

supports the ethanol delivery channel, increasing 

the availability of ethanol at fuel stations, and 

encouraging automobile manufacturers to make 

flex-fuel vehicles available. Corn ethanol is helping 

to establish the alternative fuel infrastructure. It is 

paving the way for research in alternative sources 

for ethanol, including sugar beets, sugarcane, 

switchgrass, and plant cellulose. 

Biodiesel Provides Another Renewable 

Fuel Option for the World 

Ethanol is not the only potential source of renewable 

energy. Another rapidly growing alternative 

to gasoline and petroleum-based fuels is biodiesel 

fuel. Biodiesel production has the potential to help 

create new economic opportunities for farmers 

90 

60 

30 

#2 Yellow Corn 

Number of Samples

who grow oilseed crops, reduce harmful emission 

of greenhouse gases, and increase energy security. 

In Europe, where traditional diesel was already a 

popular fuel choice, biodiesel production increased 

65 percent during 2005, totaling 965 million 

gallons. 11 That year, biodiesel production totaled 

75 million gallons in the United States, triple the 

previous year’s production. 11 

Biodiesel is created by the reactions of vegetable 

oils or other lipid sources with methanol. Vegetable 

oils used to create biodiesel come from soybean, 

cottonseed, corn, rapeseed/canola, sunflower, 

safflower, coconut, and palm. Animal fats or waste 

oils (such as used restaurant grease) can also 

be used to make biodiesel, but pretreatment is 

generally required. The choice of oil depends on 

prices and local supplies. Rapeseed oil is typically 

used in Europe. In the United States, 92 percent 

of the biodiesel fuel was made from soybean oil 

last year. 18 

WORLD BIODIESEL PRODUCTION, 1991-2005 

(liters in billions) 

5 

4 

3 

2 

1 

Source: F.O. Licht, as cited by Worldwatch Institute 

Monsanto’s pipeline is positioned to contribute to 

the growth of biodiesel. We have many products 

that increase agricultural productivity and farmer 

profitability. The seed industry is at the beginning 

of the biodiesel supply chain, and vegetable oil 

accounts for about 85 percent of the biodiesel 

cost. 18 Our products in development will help 

increase both the crop yield and the oil yield per 

acre. Roundup RReady2Yield soybeans, now in 

advanced development, will increase overall yield. 

Later, Renessen’s high-oil soybeans and high-oil 

corn will increase their oil content. Crops such 


12-41 % of fuel-related 

greenhouse gas could be eliminated 

with biofuels. 17 

as winter canola, a cost-effective rotational crop 

for wheat farmers, can increase the vegetable oil 

supply as well as improve farmer profitability. 

Biodiesel can be used in any diesel engine with 

little or no modification to the engine or fuel 

system. Biodiesel can be used as a pure fuel or 

blended with petroleum in any percentage. B20, 

available at many fueling stations, is a blend of 

20 percent biodiesel (by volume) with 80 percent 

petroleum diesel. For additional information on 

biodiesel, visit www.biodiesel.org.


Healthy Environment 

0.5 tons 

of carbon per acre per year 

can be sequestered by 

conservation tillage. 19 

185 

Carbon dioxide equivalent 

to the burning of 185 gallons 

of gasoline is sequestered 

for every hectare of 

20, 21 

no-till farming. 

As the world’s population continues 

to grow, humanity places greater 

demands on the earth. Demand for 

grain is increasing rapidly. Rising 

incomes in many parts of the developing 

world are enabling people both 

to buy more consumer goods, which 

require resources for manufacture, 

and to eat more animal protein, 

which requires large amounts of 

feed grain for production.

Sustainable Farmlands Can Help 

Mitigate Climate Change 

Climate changes are placing greater demands 

on the environment. In 2002, the latest year for 

which comprehensive data are available, global 

carbon dioxide emissions were estimated at almost 

25 billion tones. 22 Atmospheric carbon dioxide has 

increased from a pre-industrial concentration of 

about 280 parts per million to about 367 parts 

per million at present. 23 

Climate change is among the most pervasive 

threats to the web of life. Although there is still 

some debate about the causes and ultimate 

effects of climate change, humans have the 

power to address at least some of its sources. 

Smart choices about energy use, material 

consumption, and production methods have the 

potential to reduce some of the effects of climate 

change. They will also help society treat the finite 

resources of the earth responsibly. Environmental 

action, through sustainable resource management 

and production, can make a difference. 

Agriculture is one area where changes in 

production methods are showing benefits to the 

environment. Agriculture employs more than a 

billion people and generates more than a trillion 

dollars’ worth of food annually. 24 Pasture and cropland 

occupy 50 percent of the earth’s habitable 

land and provide habitat and food for most of the 

world’s plant and animal life. 24 In addition, the 

agricultural sector consumes about 69 percent 

GLOBAL MONSANTO PLANTED BIOTECH ACRES 

(in millions) 

250 

200 

150 

100 

50 

1998 1999 2000 2001 2002 2003 2004 2005 2006* 

*Denotes YTD June 29, 2006 

Source: Monsanto Company http://www.monsanto.com/monsanto/content/ 

investor/financial/reports/2006/Q32006Acreage.pdf 

of the planet’s fresh water — more than twice 

as much as industry does (23 percent). 24 

Never before have farmers around the world been 

asked to produce so much food for so many people 

on so little land. Many farmers are adopting technologies 

that allow them to produce quality foods 

while protecting the environment. According to 

C. Ford Runge, these changes in agricultural 

practices “are currently revolutionizing the 

planting and harvesting of crops such as corn 

and soybeans, integrating them much more fully 

with biological cycles, and reducing the erosion 

and soil fertility losses that accompany traditional 

deep-plowing methods.” 25 

Conservation Tillage Improves 

Environmental Sustainability 


208 million 

metric tons of carbon created by human 

activity can be sequestered in the soil through 

conservation tillage in the United States. 19 

A soybean field demonstrating conventionally 

plowed rows (left) and conservation tillage (right). 

At Monsanto, we are in a unique position to help 

growers farm sustainably. Our products have 

benefits that allow them to grow crops with less 

environmental impact than conventional farming. 

Some of our traits allow farmers to reduce the 

application of pesticides. 26 Others allow Roundup


CONSERVATION TILLAGE 

Reduces the number of tillage trips across 

the field and fuel burned 

Reuses the resources already in the soil 

to maintain soil productivity 

Recycles leaves, stubble, and other residue 

from past crops into nutrients 

AS A RESULT, IT PROVIDES MANY 

ENVIRONMENTAL BENEFITS 

Conserves soil and water, helping keep agriculture 

sustainable and maintaining natural resources 

Less erosion of soil results in cleaner 

water in rivers and streams 

Better soil conservation practices results 

in less flooding 

Less fuel burned results in cleaner air 

Carbon from previous crops is returned 

to the soil, resulting in less carbon dioxide 

released to the atmosphere 

Enhanced wildlife habitat in fields and waterways 

agricultural herbicides to be used in conjunction 

with Roundup Ready crops. Together, they 

allow farmers to practice efficient conservation 

tillage systems. 

In the last decade and a half, various conservation 

agriculture practices have been introduced around 

the world. Conservation tillage, one such production 

technology, reduces the soil disturbance needed to 

prepare for planting and to control weeds. In the 

past, farmers did not have the necessary tools, such 

as no-till planters and in-crop weed control, for 

conservation tillage, so they had to use their plows 

to turn the soil before planting. Although conventional 

plowing leaves fields looking clean, it takes 

time, burns fuel, and leaves soil exposed to 

erosion from wind and rain. 

The environmental benefits of no-till are significant. 

Farmers who use no-till leave the remains of the 

previous crop as mulch on the field. This mulch 

protects the soil from wind and rain, and it recycles 

nutrients into the soil to help the next season’s crops 

grow. Moreover, carbon from the retained plant 

matter is recycled into the soil. One acre of no-till 

farming sequesters as much as 0.5 tons of carbon 

each year, 19 as much carbon dioxide as is emitted 

20, 21 

by the burning of 75 to 185 gallons of gasoline. 

In fact, eleven percent of carbon created by human 

activity can be sequestered by agricultural lands. 27 

According to Runge, “After decades of research, 

biotechnology is now helping to bring corn 

production into a new era in which corn plants 

are being genetically engineered to resist various 

pests… [These technologies] will usher in 

increases in efficient use of natural resources, 

and will be highly complementary to soilconserving 

technologies.” 25 

UPPER: The remains of a previous corn crop 

are protective mulch for this soybean field. 

LOWER: Conservation tillage methods reduce 

erosion and soil fertility loss.

Pledge Award Winners 

Development of an Improved Conservation-Tillage 

System for the Brazilian Cerrados 

Encompassing 200 million hectares, the Brazilian 

Cerrados are the largest savanna in South America 

and an important agricultural growth area. A 

conservation-tillage system for the Cerrados would 

have many environmental benefits, but first it 

would need to be adapted to the seasonal 

conditions of the region. 

Monsanto’s Cerrados Technology Development 

Team designed a system to address the weaknesses 

of prior conservation-tillage practices in the 

Cerrados. They conducted field trials, identified 

the best cover crops (see photo, right), and developed 

best practices for incorporating and seeding 

the cover crops. The team shared its findings with 

more than 4,000 farmers through training seminars 

and field days. Farmers who implemented the 

Rice is the traditional crop in 

coastal Andhra Pradesh. But the 

decreasing supply of freshwater 

for irrigation threatens the area’s 

economy, because it prevents 

farmers from planting rice the 

customary two seasons in a row. 

Local farmers tried switching 

to a less water-consuming crop 

such as corn between rice 

plantings, but that resulted in 

weeds that limited the yield 

of the corn crop. 

A Monsanto team (featured 

right), recognizing the challenges 

the farmers faced, 

developed an effective no-till 

system for the region. The team 

recommended a combination 

of pre-emergence and postemergence 

herbicides that 

allow corn to be planted in the 

rice crop residue, which lets 

farmers control weeds without 

tillage and growing corn with 

little additional irrigation. 

With these methods, corn 

yields have increased 

dramatically, often to 

10 times previous levels. 

In addition, the introduction of 

an alternate crop reduced the 

amount of freshwater used in 

agriculture. Moreover, no-till 

practices sequester carbon 

in the soil and reduce erosion. 


team’s recommendations 

are already 

realizing benefits: better 

yields, improved water management, reduced 

erosion, lower carbon dioxide emission, fewer 

costs, and less need for mechanical labor. 

This project is one of the first sustainable production 

systems for the Cerrados. It has the potential to 

reduce carbon dioxide emission from farms 

by more than 1 metric ton a hectare. 

In Brazil, Monsanto’s reputation as a partner in 

agriculture and a no-till technology leader continues, 

strengthening our tradition of innovative technology 

and our partnership with farmers to promote 

sustainable food production around the world. 

No-Tillage Corn in Andhra Pradesh Helps Farmers Overcome Water Shortage 

Today, the farmers in Andhra 

Pradesh are realizing the 

benefits of no-tillage farming. 

Their farms are sustainable, 

and they are seeing greater 

yields and profits. In addition, 

the new practices demonstrate 

respect for neighboring 

communities and their own 

limited water supply.


Healthier Foods 

The demand for healthier food 

options is increasing.With greater 

access to health and nutrition 

information, consumers have a 

growing voice in determining which 

crops farmers grow, how foods are 

produced, and what health and 

nutrition benefits they can expect 

from these foods.Working with 

food companies, processors, and 

farmers, Monsanto is leading the 

way to develop agricultural 

products for healthier foods. 

1 billion pounds 

of trans fats can potentially 

be eliminated through the use 

28, 29 

of low-linolenic soybean oil. 

Vistive Soybean Oil Adds 

to Heart-Healthy Food Options 

People around the world are becoming increasingly 

interested in healthier food options. Food producers 

are looking for ways to meet this demand by, among 

other actions, reducing trans fats. In addition, in 

2006 the U.S. Food and Drug Administration began 

requiring food labels to include information about 

trans fat content. 

Since commercialization in 2005, our Vistive lowlinolenic 

acid soybeans have quickly become a 

promising tool for food manufacturers to reduce 

trans fats and provide healthier products to 

consumers. Trans fats are created when oils are 

hydrogenated to prolong their shelf life. Lowlinolenic 

soybeans are more stable than ordinary 

soybeans and therefore require little, if any, hydrogenation. 

In 2006, about 500,000 acres of Vistive 

soybeans were planted. In 2007, we expect to see 

two to four times that amount as food companies 

continue to seek low-trans fat solutions. 

Soybean oil is the food industry’s predominant 

vegetable oil because of its favorable taste profile, 

food formulation flexibility, and global supply. 

After discussions with food manufacturers, we 

decided that Vistive could establish a new standard 

for the performance of food-grade oils. In 

addition to food processors and manufacturers, 

restaurants are testing Vistive oils in their recipes. 

Though they are not required to label trans fats 

Because Vistive soybeans are low in linolenic 

acid, oil derived from them does not require 

much, if any, hydrogenation.

80 % of trans fats in the diet are 

29, 30 

provided by processed foods and oils. 

by law, many restaurant companies want to develop 

trans fat-free kitchens that do not sacrifice taste. 

Already, more than 100 food companies are using 

or testing Vistive oil. 

More Products to Provide Healthier 

Options for Consumers 

Monsanto is developing many other products that 

we believe will help the food industry deliver healthy 

products to consumers around the world. 

In 2005, we launched rapeseed varieties that 

produce oils food companies can use to make 

economical products with reduced trans fats, while 

maintaining taste and shelf life. To meet increasing 

demand for high-quality vegetable-based protein, 

we are developing a better-tasting soybean through 

conventional breeding. This will provide an option 

for people who want the heart-healthy benefits of 

soy, but currently make other choices for flavor. 

500 lives 

a year can potentially be saved in 

the United States through reduced 

trans fats consumption. 31 

Vistive oil allows food companies to provide 

consumers with healthier products. 


We are also working on second-generation soybean 

oils with more heart-healthy monounsaturated fat, 

similar to olive oil. These would also enable food 

products to have low-trans fat benefits, including 

improved flavor stability and longer shelf life. Our 

third-generation biotech research on oils is building 

on the benefits of heart-healthy monounsaturated 

fat and low trans fat and adds the benefit of very 

low levels of saturated fat. 

Long-term research involves ways to produce food 

crops enriched with omega-3 fatty acids. People 

generally associate omega-3 fatty acids with fish, but 

fish actually ingest omega-3 from algae. It is this 

trait found in algae that our scientists are working 

to deliver through a land-based oilseed crop. The 

largest source for vegetable oil in the United States 

is soy, thus it is the target crop for this research. 

These products could provide consumers with 

higher levels of omega-3s in foods and provide 

an additional means to maintain their heart health. 

The goal is to create an affordable, land-based, 

renewable oil source with properties that contribute 

to great-tasting food products.


Viewpoint: Healthier Foods 

Vistive Oils Help Meet Consumer Demand for Healthier Foods 

In response to consumer demands for healthier foods, Monsanto delivered 

Vistive low-linolenic soybeans to the marketplace. The first U.S. commercial 

harvest was in 2005. The product was well received, and is gaining support 

among growers, processors, and food companies. 

Growers are aware of the important role their crops play in the diets of many, 

and of the value that Vistive soybeans can provide to consumers. “Consumers are more health conscious 

than ever,” said grower Chuck Shelby. “Vistive gives us a product that meets their 

needs.” Indeed, although many seed traits have been designed to improve farm 

productivity, Vistive is the first to provide direct consumer benefits. “ Vistive is one 

of the first biotech products that gives benefits directly to the consumer,” 

said grower Duane Davids. 

Just as growers are excited about the option to grow heart-healthy crops for consumers, processors are 

adding Vistive to the crops that they process to meet consumer interests. “As a leading solution provider 

to the U.S. food industry, Cargill is pleased to help our manufacturing customers better 

meet their customers’ needs, and to partner with Monsanto in commercializing these 

exciting new products,” said Stan Ryan President of Cargill’s Dressings, Sauces and 

Oils — North America business. “We look forward to continue participating in 

the growing promise of innovations such as Vistive.” 32 

In addition, consumer health groups are encouraging healthier food choices among busy consumers. 

The American Heart Association (AHA) advocates low-trans fat diets to reduce risk for heart disease. 

According to AHA’s Nutrition Committee: “In clinical studies, trans fatty acids found in hydrogenated fats 

and partially hydrogenated cooking oils tend to raise total blood cholesterol and LDL (bad) cholesterol 

levels and lower HDL (good) cholesterol levels when used instead of cis fatty acids or natural oils.” 

“These changes tend to increase your risk of heart disease and stroke. Strong epidemiological evidence 

also indicates trans fatty acid intake is associated with an increased risk of coronary heart disease…The 

American Heart Association’s Nutrition Committee strongly advises that healthy Americans over age two 

limit their intake of saturated fat and trans fat to no more than 10 percent of total calories.” 33 

heart-healthy 

Just as growers are excited about the option to grow 

heart-healthy crops for consumers, processors are adding Vistive 

to the crops that they process to meet consumer interests.

A cotton farmer in Patri, 

Maharashtra, India. 

2 

Delivering Value

22 DELIVERING VALUE 

2 

Delivering value is the key to success 

for products, businesses, and individuals. 

At Monsanto, we strive to develop, manufacture, 

and deliver products that provide 

societal, environmental, and economic value. 

Our focus is applying innovation and technology to agriculture to make our farmer 

customers around the world more productive and successful. We use the tools of 

modern biology to make seeds easier to grow, to allow farmers to do more with fewer 

resources, and to produce healthier foods for consumers and better feed for animals. 

Our biotechnology products also bring environmental benefits such as reduced 

pesticide application 26 and improved agricultural practices. 

Our business is grouped in two areas. 

The first area, high-quality seeds and 

genomics, includes our global seeds 

and traits businesses and our genetic 

technology platforms — biotechnology, 

breeding, and genomics. The second 

area, agricultural productivity, includes 

crop protection products such as 

Roundup agricultural herbicides, 

residential lawn-and-garden herbicide 

products, and our animal agriculture 

businesses. 

Through the benefits these products 

provide to our customers and the 

efficiency and safety of our manufacturing 

sites, we deliver value. 

2005 ORGANIZATIONAL PROFILE 34 

LOCATIONS 

in 47 countries 

NUMBER OF EMPLOYEES 

16,500 full time and 5,500 temporary workers 35 

NET SALES 

$6.3 billion 

KEY CROPS 

Corn, Cotton, Oilseeds (soy and canola), 

and Vegetables 

LEADING BRANDS 

Corn and Soy Seed . . . . . . . . . . . . . . . . . . DEKALB, Asgrow 

Cotton Seed. . . . . . . . . . . . . . . . . . . Stoneville and NexGen 

Vegetable Seed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Seminis 

Animal Ag . . . . . . . . . . . . . . . Posilac bovine somatotropin 

Herbicides . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Roundup

Societal Value 

Our societal goals involve respect 

for and dialogue with the communities 

in which we operate. 

We work to provide safe products that enhance 

the social and economic well-being of people 

around the world, and we support community 

programs through the direct volunteer efforts of 

our employees and the philanthropic work of the 

Monsanto Fund (see page 43). We also work 

continuously to improve the safety of our manufacturing 

and seed conditioning sites and to provide 

road safety training for drivers. Moreover, we have 

adopted a human rights policy that guides our 

treatment of our own employees and everyone 

with whom we do business. 

Monsanto People Take Safety Seriously 

Monsanto shows respect for its colleagues and 

for people around the world where our products 

are manufactured, grown, and used by making 

every reasonable effort to protect their safety. 

Stewardship programs minimize product risk 

to customers (see page 40), and we continually 

reinforce process safety as part of our culture 

of continuous safety improvement. 

In 2004, we achieved our best year ever for safety. 

We remained fairly level with that overall record in 

2005, experiencing only a slight increase as new 

businesses came onboard. Our manufacturing 

operations surpassed their previous record, 

improving 13 percent for employees and 26 percent 

for contractors. Our seed sites continue to improve 

their safety performance. Agriculture is one of the 

world’s most dangerous occupations, but Monsanto 

is applying safety values from its research and 

agricultural chemical businesses to make our seed 

operations as safe as our other workplaces. Since 

1997, when many of our seed sites were acquired, 

Monsanto has reduced the number of safety 

incidents by 88 percent. 


13 % improvement 

Manufacturing employees surpassed their 

previous safety record, improving 13 percent 

for employees and 26 percent for contractors. 

MONSANTO COMPANY-WIDE INJURY/ILLNESS RATE (TRR) 

(number of occupational injuries and illnesses 

per 200,000 hours worked) 

Monsanto Industry 

2005 1.0* ** 

2004 0.9 5.0 

2003 1.2 5.0 

* With new acquisitions 

** 2004 is the most recent industry data 

To achieve these world-class results, Monsanto 

involves all employees in safety and health 

programs. The Global Environment, Safety, and 

Health Council comprises employee representatives 

from all areas of our business. As a result, the 

council is able to make safety policy decisions that 

include perspectives from across the work force. 

Monsanto has a program to certify its operational 

sites for safety performance. These sites earn the 

Monsanto Star only by strict compliance with 

Monsanto safety standards. In the United States, 

these high-performing sites have also been certified


by the Occupational Safety and Health Administration 

(OSHA) and given the OSHA Voluntary 

Protection Program Star. In 2005, 13 sites were 

added, including our St. Louis headquarters and 

our Chesterfield, Missouri, research sites, bringing 

our total to 93 Star sites worldwide. 

“Safety is a continuous process. We will never 

be finished. Our mission is for every Monsanto 

employee, contractor and visitor to think about 

safety as part of everything they do, every day,” 

said Emer OBroin, vice president for Environment, 

Safety, and Health. 

Road Safety is also Our Priority 

Monsanto has built a reputation as a safety perfectionist 

on its job sites. Our statistics improve each 

year; we do significantly better than the rest of our 

industry. However, many employees do not work 

in an office. They work on the road, meeting with 

growers and distributors and conducting other 

business. Driving safety came into focus several 

years ago when we experienced several fatalities 

in one year. We realized that just as site safety is 

MONSANTO STAR SITES 

Monsanto has a program to certify its operational sites for safety performance. 

These sites earn the Monsanto Star only by strict compliance with Monsanto safety 

standards. In the United States, these high-performing sites have also been certified 

by the Occupational Safety and Health Administration (OSHA) and given the OSHA 

Voluntary Protection Program Star. A total of 93 Monsanto sites have been certified since 

the program began. Thirteen were added in 2006. Twenty-one were added in 2005. 

For the list of Star locations, visit www.monsanto.com/monsanto/layout/our_pledge/. 

North America 

South America 

important for our success and the wellbeing of our 

employees, so is road safety. 

In 2002, we embarked on a vehicle safety program 

to address this problem. Now, each year, every 

Monsanto employee completes a driver’s training 

module. More than 20,000 Monsanto people participated 

in 2005. Employees who spend much of their 

time driving are required to go through even more 

intensive behind-the-wheel training. In 2005, more 

than 2,000 employees participated in this training. 

In 2005, we recorded our best vehicle safety record 

ever: zero vehicle fatalities and 3.6 accidents per 

million miles driven. That result, consistent with 

2004 results, earned us a best-in-class designation 

among other companies with similar fleet safety 

programs. Saving lives and reducing injuries are 

the rewards, but other benefits follow. In the 

United States, we reduced costs incurred from 

auto accidents by 30 percent. 

We have shared our experience with many other 

companies and industry groups. Monsanto serves 

on the board of directors of the Network of 

Employers for Traffic Safety. 

South East Asia 

Europe 

South Africa

Viewpoint: Human Rights 

Adoption of a Human Rights Policy for Our Company 

Sherrie Esposito, Global Corporate Responsibility, Monsanto Company 


In April 2006, Monsanto Company’s board of directors formally adopted 

a human rights policy for our company. The policy, a manifestation of the 

company’s values as stated in Monsanto’s Pledge, emphasizes our commitment 

to the protection and advancement of human rights. It includes provisions on child labor, forced 

labor, compensation, working hours, harassment and violence, discrimination, safety, and freedom of 

association. A copy of Monsanto’s human rights policy, as well as background information, can be found 

in the Pledge section of our company’s Web site. 

Our human rights policy was guided by the Universal Declaration on Human Rights as well as the 

International Labor Organization’s Declaration on Fundamental Principles and Rights at Work. Development 

of the policy included consideration of the global nature of our business and the circumstances unique 

to agriculture. In addition, consistent with our Pledge values — especially dialogue and transparency — 

the policy was vetted with a broad group of internal and external stakeholders. We believe this approach 

was valuable and essential in creating a policy that is appropriate for our business, considers the concerns 

of our shareholders, and is attentive to experts in the area. 

Our company is taking a thoughtful, phased and systemic approach to implementation of the policy. We 

are in the early stages of our implementation efforts to support this newly adopted policy. Implementation 

will include communicating the policy to employees and our business partners, creating operational 

guidelines and a management information system, training sessions, and audits as a means to verify 

compliance. Monsanto will work within its business, as well as with its business partners, on 

a continuous improvement basis, to address noncompliance issues. Although this approach will 

require time and effort, we believe that it is necessary to achieve our goal of sustainable compliance. 

Our strategy is to embed the human rights policy and implementation into existing business processes. 

To execute a global policy effectively, it is important that we make implementation inclusive. To achieve 

this, we will continue to work with a global, cross-functional team that guides our actions and keep 

regions and functional areas informed. In addition to functional representatives, the team includes 

regional human rights champions who work with our employees and business partners to implement 

the policy in their regions. 

We look forward to a productive year. We will provide you with an update in next year’s Pledge Report. 

Our strategy 

Our strategy is to embed 

the human rights policy and implementation 

into existing business processes.


Environmental Value 

Through our activities and our customers’ use of our products, we 

strive to affect agricultural sustainability positively.The environmental 

value we deliver can be measured through the eco-efficiency of our 

manufacturing operations, the effect of our products on agricultural 

sustainability, and our continuing efforts to improve our operations 

and the benefits our products provide. 

Eco-Efficiency Data 2005 

The eco-efficiency reporting method used here was developed in cooperation with the World Business 

Council for Sustainable Development. The system permits year-to-year comparison of new data to baseline 

data from calendar year 1990. Product data (for example, energy use and material consumption) are 

recorded by total amounts and by environmental influence per unit of output. For purposes of comparison 

with prior years, a constant product mix based on Monsanto’s technical-grade chemical production as 

of calendar year 2005 is used. That adjusts previous-year data so that changes in product mixes do not 

influence the comparability of the year-to-year eco-efficiency indicators. Ozone-depleting substances 

(ODS) are not graphed, because the total is too small to be statistically significant. 

ENERGY CONSUMPTION 

(environmental influence in gigajoules / 

output in metric tons) 

17,900,000 / 412,000 

2005 43.4 

18,200,000 / 420,000 

2004 

43.3 

15,100,000 / 173,000 

1990 

87.3 

More Efficient Less Efficient 

Energy (gigajoules) / Tech Products (metric tons) 

DIRECT GREENHOUSE GAS EMISSIONS 

(environmental influence in metric tons/ 


1,327,000 / 412,000 

2005 3.2 

1,302,000 / 420,000 

2004 

3.1 

825,000 / 173,000 

1990 

4.8 


GHG (metric tons CO2 eq)/ Tech Products (metric tons) 

INDIRECT GREENHOUSE GAS EMISSIONS 



574,000 / 412,000 

2005 1.39 

581,000 / 420,000 

2004 

1.38 

422,000 / 173,000 

1990 

2.44 


GHG (metric tons CO2 eq)/ Tech Products (metric tons) 

CHEMICAL OXYGEN DEMAND (COD) 

(environmental influence in metric tons to surface water / 


2,890 / 412,000 

2005 0.0070 

3,190 / 420,000 

2004 

0.0076 

2,000 / 173,000 

1990 

0.0116 


COD (metric tons O2 eq)/Output in (metric tons)

WASTE OFFSITE 



10,400 / 412,000 

2005 0.025 

10,100 / 420,000 

2004 

0.024 

15,000 / 173,000 

1990 

0.087 


Waste (metric tons)/ Tech Products (metric tons) 

WATER CONSUMPTION 

(output in metric tons/ 

environmental influence in cubic meters) 

14,500,000 / 412,000 

2005 35.2 

15,700,000 / 420,000 

2004 

37.4 

12,900,000 / 173,000 

1990 

74.6 


Water (cubic meters)/ Tech Products (metric tons) 

SCOPE OF DATA 

Monsanto major agricultural chemical production; 

P 4 production; world headquarters’ research, 

development, and administration locations 

TECHNICAL PRODUCT OUTPUT 

412,000 metric tons 

Monsanto’s Roundup agricultural herbicide 

manufacturing facility in Luling, Louisiana. 


EUTROPHICATION 

(environmental influence in metric tons to surface water/ 


3,500 / 412,000 

2005 0.0085 

3,670 / 420,000 

2004 

0.0087 

1,570 / 173,000 

1990 

0.0091 


Phosphates (metric tons PO4 eq.)/ Tech Products (metric tons) 

ACIDIFICATION EMISSIONS 



11,680 / 412,000 

2005 0.028 

15,550 / 420,000 

2004 

0.037 

14,530 / 173,000 

1990 

0.084 


Emissions (metric tons SO2 eq.)/ Tech Products (metric tons) 

PHOTOCHEMICAL OXIDANT CREATION 



99 / 412,000 

2005 0.00024 

104 / 420,000 

2004 

0.00025 

102 / 173,000 

1990 

0.00059 


VOCs (metric tons)/ Tech Products (metric tons) 

MATERIAL CONSUMPTION 



2,674,000 / 412,000 

2005 6.5 

2,643,000 / 420,000 

2004 

6.3 

1,371,000 / 173,000 

1990 

7.9 


Materials (metric tons)/ Tech Products (metric tons)


For many years, the Monsanto 

facility in Antwerp, Belgium, 

has purchased chlorine and 

hydrogen by pipeline from 

an adjacent manufacturer for 

use in several processes. After 

installing a new combined heat 

and power unit a few years ago, 

our site developed a slight 

surplus in steam and therefore 

needed less hydrogen to fuel 

the conventional boilers. At the 

Improvements to the Dairy Sharps- 

Disposal Services Program Benefit 

Producers and the Environment 

In 2003, the Dairy Manufacturing Team and 

the Distribution Center in Augusta, Georgia, 

undertook environmental improvements to the 

voluntary sharps-disposal program for its Posilac 

bovine somatotropin customers. This program 

provides our Posilac customers with supplies and 

services for the removal and destruction of their 

sharp syringes, which might otherwise end up 

in local landfills. 

To improve the program, the team developed 

a database to manage and forecast supply and 

pickup services. It improved the mail-back kit 

design with better ergonomics and increased 

its capacity from 350 syringes to 1,600. These 

improvements to the sharps-disposal program 

Pledge Award Finalists 

Converting Waste Hydrogen into Usable Steam 

Reduces Carbon Dioxide Emission 

same time, the neighboring 

company began using a new 

technology in its chlorine 

production process that 

required more steam and 

generated more hydrogen. 

However, that company did 

not have the boiler capacity 

onsite to transform the 

hydrogen into steam. 

Teams from the two facilities 

identified ways we could share 

resources that would benefit 

both companies. After a few 

modifications and the installation 

of a steam line, the excess 

hydrogen from our neighbor 

is now converted into steam at 

our site, and steam from our 

operations is transported back 

to the neighbor. 

The energy saved through 

the optimized distribution 

of steam and hydrogen is 

equivalent to 2,250 tons 

(4.5 million pounds) of 

crude oil a year, and our 

site reduced carbon dioxide 

emission by 5,300 tons 

a year. In addition, Monsanto 

is saving an estimated $420,000 

a year in energy costs and 

$600,000 a year in fixed-cost 

absorption. 

increased our customer participation. In 2005, 

76 percent of syringes purchased through the 

system were destroyed this way. 

Improvements in the efficiency of the 

program also reduced total program costs 

by $1.5 million. Thus, the program has 

economic, environmental, and safety benefits 

for our customers, as well as environmental 

benefits for communities in which they operate 

by reducing potential exposure to medical waste.

Economic Value 

Benefits Drive Growth 

in Biotech Crop Acres 

Since their commercialization in 1996, biotech 

crops have provided benefits to farmers and 

communities around the world. The rate of 

adoption is a testament to the value these crops 

deliver. In 2005, the acreage under cultivation 

with biotech crops increased by 11 percent; it 

was the 10th consecutive year that biotech crop 

acreage grew by 10 percent or more. 37 According 

to Clive James of the International Service for the 

Acquisition of Agri-Biotech Applications, this is 

due chiefly to the economic and environmental 

benefits these crops deliver: “The continued, rapid 

adoption of biotech crops reflects the substantial 


Our products provide consistent and significant economic benefits to both 

large- and small-holder growers. In many cases, farmers are able to grow 

higher-quality and better-yielding crops with fewer inputs and less labor. 36 

In turn, the benefits these growers realize create a chain of value that 

touches many other stakeholders. 

Bollgard cotton grower Rajaram Murli Dharlambe (left) 

at a celebration with family and neighbors in Aurangabad, 

Maharashtra, India. 

and consistent improvements in productivity, 

the environment, economics, and social benefits 

realized by both large and small farmers, 

consumers, and society in both industrial 

and developing countries.” 37 

Biotech crops were grown by 8.5 million farmers in 

21 countries in 2005, an increase from 8.25 million 

farmers in 17 countries in 2004. 37 Farmers have 

adopted these technologies quickly for several 

simple reasons: biotech crops improve yield, cut 

costs, and reduce pesticide spraying. These benefits 

improve farmers’ bottom lines, but they also save 

time, improving the quality of life for farmers by 

giving them more time to spend with their families 

and to pursue other activities. 36


The economic benefits of biotech crops are significant. 

The most recent survey of the global economic 

impact estimates that net benefits to crop biotech 

farmers in 2004 were $6.5 billion. 38 Accumulated 

economic benefits (from 1996 to 2004) of biotech 

crops were $27 billion — $15 billion for farmers 

in developing countries and $12 billion for those 

in industrialized countries — an increase of 

4.2 percent over conventional crop revenues. 38 

Compared to farmers in industrialized nations, 

the benefits of biotech crops are even greater for 

resource-poor farmers and their communities. 

James found that 90 percent of farmers who 

plant biotech crops are resource-poor farmers 

in developing countries, and crops in these 

countries represent more than one-third of the 

2005 global biotech area. 37 

Pledge Award Winner 

Converting Grasslands to Conservation-Tillage 

Farmland Uplifts Lives in the Philippines 

Barangay Del Castillo and 

Barangay Tady are two mountain 

communities in the Iloilo 

province of the Philippines. 

What little income people make 

in these communities comes 

from seasonal farm labor in 

the nearby lowlands. Between 

seasons, families struggle to 

afford enough food to eat. 

Determined to help, a 

Monsanto marketing team in 

the Philippines collaborated 

with input suppliers, financiers, 

and grain traders to create a 

plan for developing conservation-tillage 

(CT) corn farmland 

in the mountainous grasslands, 

thereby creating economic 

benefits for the communities 

and increasing their food 

self-sufficiency. 

The team conducted meetings 

with local government officials to 

propose the program, explaining 

how CT technology would allow 

sustainable farming on the idle 

land. The team then created a 

demonstration plot in each community 

and developed financing 

options for the farmers. 

Farmers now earn an 

additional $7,350 a year 

on corn production with 

an average yield of five 

tons a hectare. 

“Biotech crops have increased the income of 

7.7 million resource-poor farmers in China, India, 

South Africa, the Philippines, and seven other 

developing countries, helping alleviate them from 

abject poverty,” said James. 37 The increased 

income these crops generate contributes to food 

self-sufficiency and to the alleviation of familial 

poverty and ultimately societal poverty in countries 

where they are grown. 37 

As biotech crops enter their second decade of 

commercialization, it is becoming clear that they 

provide economic benefits to all farmers who grow 

them. Farmers around the world are witnessing 

increased yields, reduced labor, and a reduction 

in sprays. They are demonstrating their confidence 

in biotech crops through continued and expanding 

use of them. 

Community members have 

more income and can provide 

a greater quantity of highquality 

food for their families, 

and the project has enabled 

infrastructure development 

in the communities. Finally, 

conservation tillage is now a 

standard practice for these 

farmers, helping prevent soil 

erosion and rainwater runoff 

in the hilly grasslands.

From this strong base of products and technologies 

that growers like to use, we are able to provide 

economic value to many other stakeholder sectors. 

Global Sourcing and Purchasing 

As a global company, we do business wherever 

crops are grown. We have full- and part-time 

employees in almost every agricultural market. 

We grow seed for sale and manufacture products 

as close to our markets as possible. We also hire 

people from within each market and purchase 

goods locally whenever possible. We buy raw 

materials and supplies and contract with service 

providers in most world regions. In 2005, we spent 

almost $3 billion to purchase, grow, process, and 

manufacture our products. This includes our 

manufacturing payroll as well as goods, outside 

labor, and fixed costs. 

Technology Sharing 

One of the platforms of the Monsanto Pledge is 

our commitment to share our technology in appropriate 

ways in parts of the world where it is most 

needed. Monsanto donated the first working draft 

of the rice genome. We have worked with research 

institutions in developing countries such as the 

Consultive Group on International Agricultural 

Research centers and Centro Internacional de 

Mejoramiento de Maiz y Trigo to bring modern 

agricultural technologies to bear on problems 

caused by insects, viruses and weeds. The donation 

of intellectual property and technical expertise 

helps to boost the work of collaborating scientists 

in these organizations, often saving them money 

and time as they work toward their goals. 

Supplier Diversity Program 

The Office of Supplier Diversity is the arm of our 

organization that seeks to build strategic partnerships 

with certified minority-owned, woman-owned, 

and disadvantaged businesses. Our goal as a 

company is to purchase high-quality goods, 

materials, and professional services needed for 


$ 19 billion 

increase in global farm income from 

growing biotech crops, 1996-2004. 38 

At his farm in Stewart, Minnesota, Mark Maiers grows the 

first agricultural product with three biotechnology traits: 

YieldGard Plus with Roundup Ready Corn 2. 

our business. The Supplier Diversity program 

ensures that we source those products from 

a broad range of qualified suppliers. The Pledge 

commitments guide these efforts. At our headquarters 

and at many other locations, we hold 

strategic partnerships with woman- and minorityowned 

businesses in areas including office and 

manufacturing supplies and temporary labor. Over 

the past year, the St. Louis Minority Business 

Council recognized us for our continued efforts to 

build supplier diversity. The council is committed 

to promoting partnerships among minority owned 

businesses and major U.S. corporations.


Community Economic Development 

Over the last decade, we have been working with 

St. Louis community leaders to attract plant and 

life science investment and innovation to the region. 

St. Louis is the site of our world headquarters. It also 

is the home of Washington University, the Donald 

Danforth Plant Science Center, the Missouri 

Botanical Garden, and the Nidus Center for 

Scientific Enterprise — all important assets that 

are earning St. Louis a name as a biotech leader. 

The whole region benefits from its enhanced 

reputation as a technological bio-belt through 

high-paying skilled jobs, state-of-the-art training, 

the attraction of new scientists to excellent local 

academic institutions, and related income taxes 

and corporate taxes. 

Pledge Award Finalist 

Agricultural Industry Promotes Adoption of YieldGard Corn in Europe 

Access to agricultural technology 

can provide significant 

economic benefits to farmers, 

their families, and their 

communities. Nonetheless, 

many farmers in Europe who 

were interested in growing 

biotech crops were unable to 

do so, which deprived them 

and their communities of the 

economic and environmental 

value these crops may bring. 

In 2005, a Monsanto team in 

Europe worked with agricultural 

industry members to plant 

YieldGard corn beyond Spain, 

where it was first planted 

commercially in 2003, to four 

additional countries — France, 

Germany, Portugal, and the 

Czech Republic. As a result of 

the team’s efforts and those of 

its industry partners, farmers in 

each of the four countries were 

A smallholder Bollgard cotton grower in Gujarat, India. 

able to grow YieldGard corn. 

In early results, farmers are 

seeing real economic benefits, 

with 10 to18 percent 

average yield gains across 

the countries. 

Crop plantings in the four 

countries were achieved through 

dialogue with farmers, grain 

handlers, seed associations, 

and governments, with respect 

for their concerns. The plantings 

were conducted in a way that 

honored, and in some areas, 

further defined for stakeholders 

Monsanto’s stewardship principles. 

Ultimately, the project 

has the potential to provide 

economic benefits to more 

European farmers.

3 Taking Action 

While the Monsanto Luling, Louisiana, 

plant was shut down during the aftermath 

of hurricane Katrina in late summer, 2005, 

production engineer Paul Mire used his 

own boat and personal initiative to rescue 

New Orleans residents.

34 TAKING ACTION 

3 

Taking values-guided action is necessary 

for individuals, organizations, and societies 

to progress and achieve aspirational goals. 

At Monsanto, our Pledge and our ability to 

deliver valuable products would mean little if we did 

not act decisively to help whenever we can. 

Monsanto people around the world are taking action, within their business teams 

and through individual volunteer efforts. They work to develop systems that reward 

innovation in underserved markets, make our products and research safe, help their 

communities through volunteer efforts and charitable giving, and contribute to 

collaborative work environments. 

The Pledge values apply to all of our work 

at Monsanto. Our teams around the world 

seek to hire people who hold equivalent 

values such that work values are in 

harmony with personal values. Thus, 

our people do not check their values at 

the door when they leave work. Through 

the actions of our employees and their 

commitment to Pledge values, we are 

helping to improve our workplace, our 

communities, and society at large. 

Chairman, President, and Chief Executive Officer, 

Hugh Grant congratulates Jayantilal Satashia at the 

2005 Pledge Awards. 

THE MONSANTO PLEDGE AWARDS 

Winners and finalists of the 2005 

Monsanto Pledge Awards are 

featured throughout this book. 

The Pledge Awards honor 

Monsanto people who practice 

Pledge values as they do business. 

In 2005, almost 200 

nominations were received from 

teams around the world representing 

many company sectors. 

Every Pledge Award nomination demonstrates how 

we live the Pledge and make a difference in our 

communities and at work. 

Winners are selected by a distinguished panel of 

external judges, from finalists previously selected by 

internal judges, according to two criteria: the environmental, 

economic, and societal value delivered by the 

project; and how the Pledge values were used in the 

actions taken by the team.

Protecting Innovation 

As a creative technology company, Monsanto 

relies on strong intellectual property protection. 

In the United States and Canada, long-standing 

national government policies that recognize and 

enforce intellectual property (IP) rights have 

allowed farmers to reap the benefits of biotech 

crops for more than a decade. 

Important developing nations such as Argentina, 

China, and India continue the process of building 

quality IP systems. Other nations, like Brazil and 

Paraguay, have comprehensive IP systems and 

are making concerted efforts to improve enforcement 

of intellectual property rights. 


Innovation remains the very core of Monsanto’s success. It sparks the 

creation of new products and delivers substantial value to producers 

and consumers. Over the last decade, Monsanto’s innovative products 

have increased crop yield as well as reduced the use of pesticides. 

The result is a better quality of life for farmers through higher 

incomes and less time spent working the land. 

we believe 

Free-market economies offer great 

hope for overcoming the tremendous 

and immediate needs of the developing 

world. Within the predictable business 

environment a free-market economy 

provides our agricultural technologies 

can make considerable contributions 

to societal development. 

Cotton growers in India planted 

3 million acres of Bollgard cotton 

in the 2005 growing season. 

In nations where enforcement of IP rights is strong, 

farmers are recognizing the value they receive in 

Monsanto’s high-tech seeds and are more willing 

to pay for it. Similarly, biosafety regulations are 

now in place in many nations and new products 

are being approved in a timely fashion. 

In countries where IP systems do not exist, are 

weak, or are not enforced, innovative companies 

are not investing their resources, the work of 

creative citizens is unprotected, and counterfeiting 

and piracy are common. When a company’s intellectual 

property is stolen, standards of quality and 

stewardship are also compromised. Ultimately,


Viewpoint: Intellectual Property 

Free Markets Enhance Social Development 

Michael D. Hauser, Public Policy, Monsanto Company 

We recognize the contribution that quality intellectual property (IP) 

systems can provide to economic development. Today, effective 

intellectual property systems contribute to stable and creative business environments and healthy 

market economies. Effective IP systems can provide an incentive to invest the resources needed 

to foster innovation. The result is a society where innovation, knowledge, and creativity are shared 

in ways that are respectful of the innovator and the creative hard work of the people. 

Intellectual property is currently a topic of emotional debate on the world stage. Some believe that 

IP systems benefit only developed countries and exploit developing ones. At Monsanto, we believe that 

free-market economies offer great hope for overcoming the tremendous and immediate needs of the 

developing world. We also believe that, within the predictable business environment a free-market 

economy provides, our agricultural technologies can make considerable contributions to societal 

development. Such strong market economies are characterized by transparent and science-based 

intellectual property rights, which are complemented by other institutions such as legal systems that 

impartially enforce the law. 

For these reasons, Monsanto supports the establishment of effective national intellectual property 

systems that comply with the disciplines detailed in the Agreement on Trade-Related Aspects of 

Intellectual Property Rights (TRIPS) of the World Trade Organization. Nations that responsibly protect 

intellectual property rights are clearly attractive venues for trade and investment. But, just as important, 

they are nations whose own innovative and talented citizens do not have to emigrate for fear that their 

hard work will be stolen, but rather stay and contribute to the development of society at home. 

Monsanto addresses intellectual property challenges raised in the developing world through active participation 

in international organizations such as the Business and Industry Council of the Office of Economic 

Cooperation and Development; the United Nations Environmental Program, the Convention on Biodiversity; 

the World Intellectual Property Organization; and the World Trade Organization. Monsanto positions 

concerning intellectual property stem from our fundamental beliefs. We believe all nations 

have a sovereign right to ensure access to and shared benefits from their genetic resources; 

intellectual property protection should be practical, transparent, and science-based; strong 

enforcement of intellectual property rights is essential to combat counterfeiting and piracy; 

and that the private sector can add significant value to intellectual property policy. 

innovation 

Effective IP systems can provide 

an incentive to invest the resources 

needed to foster innovation.

customers suffer from sub-standard, potentially 

dangerous counterfeit products and economies 

suffer the loss of business investment in new 

technologies that could contribute to the nation’s 

competitiveness in the global marketplace. 

GLOBAL COST OF CONTERFEITING AND PIRACY 

(dollars in billions) 

600 

400 

200 

1982 1985 1990 1996 2000 2005 2006 

Sources: International Chamber of Commerce, Business Action to Stop 

Counterfeiting and Piracy; United States Trade Representative, 2004 & 2005 

Special 301 Reports. 

Perhaps the most pressing intellectual property 

challenge today is the increasing problem of 

counterfeiting and piracy. Perceived to be problems 

primarily for the entertainment and information 

technology industries, counterfeiting and piracy are 

also threats to innovative science businesses like 

ours. To address these threats, Monsanto provides 

support to numerous anticounterfeiting programs, 

such as the International Chamber of Commerce, 

Business Action to Stop Counterfeiting and Piracy; 

the U.S. Chamber of Commerce, Coalition Against 

Counterfeiting and Piracy; and the U.S. Commerce 

Department, Strategy Targeting Organized Piracy. 

We also enforce our patents in countries that 

provide intellectual property protections in order 

to achieve a level playing field for the majority of 

customers who abide by the law and pay for the 

products they use. Similarly, Monsanto works with 

governments and international organizations to 

help develop and enforce counterfeiting and piracy 

laws to ensure people who buy brand-name products 

receive the quality and performance they 

have come to expect from the label. 


$ 600 billion 

Worldwide production of counterfeit or 

pirated goods has jumped 1,700 percent 

in the last fifteen years and is now 

estimated as 6 percent of worldwide 

trade, a $600 billion market. 

Rennesen/Mavera corn breeder 

Roger Weyhrich in Boone, Iowa.


Investing in Growers 

Who Invest in Us 

As regulatory and intellectual protection (IP) 

enforcement systems develop around the world, 

more farmers will be able to take advantage of 

agricultural biotech traits. Farmers in the U.S. 

and Canada were the first to legally buy and use 

Monsanto’s traits more than 10 years ago and 

their acreage — and support — have grown ever 

since. As a show of appreciation for their loyalty, 

Monsanto is offering North American growers 

three premium products and services. 

MARKET DEVELOPMENT: North American growers 

will receive exclusive access to products from the 

Vistive heart-healthy soybean portfolio as long as 

they can meet food company demand in a costcompetitive 

way. Vistive low-linolenic soybean oil 

does not require partial hydrogenation and so is 

Soy 2020 examines current trends 

and identifies economic, political and 

competitive factors that will shape 

the next 15 years of soy production. 

Researchers Amy Curtis (foreground) 

and Tom Jorejsi assess Vistive low-linolenic 

soybeans during prelaunch testing in Iowa. 

lower in trans fats (see page 18). This year, nearly 

500,000 acres were planted in expanded geographies 

throughout the U.S. Midwest. Processors are 

currently paying farmers a premium of $0.25 to 

$0.45 a bushel for Vistive low-linolenic soybeans. 

In the future, U.S. farmers will also be given 

preferred access to several additional soybean 

products including soy crops that will produce 

vegetable oils enriched with omega-3 fatty acids 

which have many heart-healthy qualities. 

RISK MANAGEMENT: Growers in three U.S. states, 

Arkansas, Missouri and North Carolina, who double 

crop Roundup Ready Soybeans, will be eligible for 

a 2006 pilot Double Crop Risk Protection program. 

Double cropping is the practice of planting a second 

crop on a given acreage soon after harvesting the 

first crop. If any of these growers have complete 

soybean crop failure, they would be eligible to 

receive a refund payment from Monsanto. “Many 

farmers who double crop soybeans plant their 

second crop later in the season, and so incur 

greater risk due to moisture variability, early freeze 

and other climate factors. We’ve long recognized 

farmers’ risk and are evaluating this tool to address 

the unique issues faced by our double crop 

Roundup Ready soybean customers,” said 

Carl Casale, Monsanto executive vice president, 

North America Commercial. 

STRATEGIC PLANNING: Monsanto will support and 

provide resources for a comprehensive study 

looking at what the future holds for the soybean 

industry in the year 2020. Soy 2020, coordinated 

by the United Soybean Board, will examine current 

trends and identify economic, political, and competitive 

factors that will shape the next 15 years of soy 

production, including market segments such as 

animal agriculture, biodiesel, and food manufacturing. 

“As a technology provider, a study such as 

this can help guide our research to better match 

up with the industry’s goals,” said Casale. 

As other global economies develop and more 

growers can invest in our technology, we will 

see how these pilot programs or other programs 

developed for different needs, can bring even 

more value to customers around the world.


Contributing to a New Regulatory Framework 

for Biosafety in Brazil 

A regulatory framework for 

biotechnology was important 

for our privilege to operate in 

Brazil. It was also important for 

farmers who wanted to grow 

crops with our traits. Because 

some farmers had been growing 

seed with the Roundup Ready 

trait illegally, a new law was 

needed to provide a legal 

means for purchasing and 

selling seed with biotech traits. 

The Monsanto Brazil team, in 

compliance with our business 

conduct policy, established 

dialogue with community 

members, scientists, industry 

leaders, policy decision makers, 

and others to help 

them learn about 

biotechnology. The 

team scheduled open meetings 

to present studies and reports; 

participated in public hearings, 

workshops, and seminars; 

and provided information to 

stakeholders. 

This dialogue increased 

public awareness and 

understanding of biotechnology 

in Brazil. As a result, 

the Brazilian Senate modified 

the 2003 bill to give a technical 

government committee the 

power to grant biotech 

approvals. The president of 

Overcoming Counterfeit Bollgard Seeds in Gujarat, India 

Many farmers in the Rajkot district of India’s Gujarat 

state live in poverty, producing barely enough to 

subsist. They have limited access to new agronomic 

practices and technology. Some local farmers had 

been sold illegal or counterfeit Bollgard seed. As 

a result, many farmers had negative impressions of 

Bollgard and other modern agricultural products. 

A Monsanto sales manager 

(featured left) realized that 

by sharing information 

about legitimate Bollgard 

and good agronomic practices, 

he and his team 

could help the farmers 

while demonstrating the 

value of the products. The 

team met with 400 farmers 


Brazil signed the bill into law 

in 2005. 

Now, biotech products can be 

developed for local agricultural 

needs, which will allow Brazilian 

growers to compete equitably 

with other world regions. 

Farmers in Brazil can legally 

enjoy the benefits of biotech 

crops. Finally, the law allows 

Brazilian farmers to use more 

sustainable methods, which 

provide environmental 

benefits for all. 

from 25 villages to discuss the benefits of Bollgard 

technology, the difference between real Bollgard 

and imposter seeds, and good crop management 

practices for cotton. The team invited government 

officials, academic scientists, and retailers to these 

meetings to inform them of the farmers’ situation. 

With proper training, Bollgard can benefit 

resource-poor farmers as much or more than 

farmers with sufficient resources. The Rajkot 

farmers who tried Bollgard are seeing increased 

yields; they anticipate a substantial increase in 

their income. Better crops will allow them to 

move toward financial self-sufficiency and to 

give a better life to their families. In addition, 

the project respects the farmers by empowering 

them with knowledge to be informed consumers.


Stewardship and Integrity 

Overseeing Monsanto’s work are many internal teams who vigilantly 

examine our research and development, products and processes to 

make certain that we are obeying the law, meeting Monsanto’s high 

stewardship standards, and operating with integrity in accordance with 

our Pledge values. 

Various teams focus on product stewardship from 

lab to field: financial stewardship to ensure that 

financial standards are met; environmental, safety 

and health stewardship to protect the safety of our 

2006 BIOTECH ADVISORY COUNCIL MEMBERS 

(as of September 1, 2006) 

TOM EWING, former U.S. Congressman 

from Illinois, serves as chair of the 

Monsanto Grower Council 

RUTH ONIANG’O, founder, Rural 

Outreach Program, Nairobi, 

editor-in-chief, African Journal of 

Food, Agriculture, Nutrition and 

Development, member of the 

Kenyan Parliament 

RICHARD MOTT, vice president 

for international policy at the 

World Wildlife Fund 

ROBERT PAARLBERG, professor of 

political science at Wellesley College, 

associate and visiting professor of 

government at Harvard University 

CARLO LOVATELLI, director, 

corporate affairs, Bunge Group 

VASANT GANDHI, chair of the Centre 

for Management in Agriculture, 

Indian Institute of Management, 

Ahmedabad, India 

CAROLE PIWNICA, attorney, food 

regulations, mergers and acquisitions, 

EU and US. 

people, communities and the environment; and 

societal engagement to consider whether we are 

doing the right things and doing them right. 

Biotech Advisory Council Shares 

Important Perspectives 

Monsanto’s Biotech Advisory Council was formed 

in 2001 to help us better understand how our 

decisions were affecting people around the world. 

In the early days, the council reviewed recent 

activities and provided feedback. As the council 

and Monsanto developed a stronger working 

relationship, the focus shifted from the past to 

the future and how best to apply our expertise 

and resources to meet the challenges ahead. 

Recent topics included important products in our 

research pipeline, which led to our commitment 

to share drought tolerance technology in Africa. 

Discussions about human rights were considered 

in Monsanto’s human rights policy. As more 

countries approve biotech products, we continue 

to discuss evolving public expectations. 

Product Stewardship 

We take the stewardship of our products seriously. 

Product stewardship is the legal, ethical, and moral 

obligation to ensure that our products and technologies 

are safe and environmentally responsible. 

It is a component of Product Life Cycle Stewardship, 

which includes product introduction, stewardship 

of products in the marketplace, and effective 

discontinuation of outdated technology.

We are expanding and integrating our various 

global product stewardship efforts as we meet the 

challenge of an increasing number of biotechnology 

trait launches around the world. In 2005, we formed 

a stewardship operations team and created 

regional stewardship teams that are adapting our 

stewardship processes to their local situations. 

Over the past two years, we established the requirement 

for a product stewardship checklist for each 

new product launch, verifying that stewardship 

milestones are met throughout the product life 

cycle. Completion of the checklist helps confirm 

that our stewardship processes are followed and 

documented before launch. 

Stewardship is the shared responsibility of 

Monsanto, our licensees, and our grower 

customers. We want to ensure that our 

products continue to be used properly. 

By following product life cycle stewardship 

processes, we stand behind our products 

from start to finish. 

Stewardship of Agricultural 

Herbicide Products 

Responsible development, manufacture, and 

use of agricultural herbicide products such as 

Roundup agricultural herbicide is important to 

us. Monsanto subscribes to the principles of the 

American Chemistry Council Responsible Care 

Program, the Responsible Care Global Charter, 

and the Food and Agriculture Organization of the 

United Nations International Code of Conduct on 

the Distribution and Use of Pesticides. 

We have policies in place to monitor our procedures 

as we research, develop, design, manufacture, 

market, and dispose of chemical products scientifically 

evaluated for product safety and benefits, 

are used properly, and do not pose undue risks to 

human health or the environment during any stage 

of their life cycle. 

We conduct product risk assessments in many 

areas: toxicology, medical risks, regulatory 

approvals, environmental impact, safety, health, 


2,000 

Considering safety, health, and agronomic 

performance criteria,YieldGard Rootworm corn 

was selected from more than 2,000 product 

candidates that were evaluated over a 

period of 4 years. 

Researcher Erin Bell assesses corn hybrids for 

drought-tolerant corn in Chesterfield, Missouri. 

107 

Stewardship is time and labor intensive. 

Data collection for just one U.S. regulatory 

annual reporting requirement (among many) 

for one product requires contributions from 

107 Monsanto employees. 

quality, marketplace stewardship, sales and 

marketing, and public relations aspects. 

Monsanto chemical products are regulated 

by the Environmental Protection Agency, 

the Food and Drug Administration, and other 

relevant agencies in the United States, and 

by similar agencies in other nations. 

Labels and material safety data sheets for 

Monsanto’s chemical products are available 

through the Monsanto website, 

www.monsanto.com.


Integrity Guides Our Business Conduct 

The Monsanto Business Conduct Program raises 

employee awareness of the importance of integrity. 

As our Code of Business Conduct notes, this 

program was designed not merely to comply with 

the law, but to make certain that our actions reflect 

the type of company we want Monsanto to be. 

The Business Conduct Program helps guide our 

employees in doing the right thing. It offers several 


Global Field-Trial Compliance Protocol 

Facilitates Effective Stewardship 

Conducting field trial research 

with genetically modified crops 

can be especially challenging 

in developing countries with new 

and potentially limited biosafety 

frameworks and government 

oversight. To encourage effective 

and appropriate stewardship in 

those situations, the Biotechnology 

Stewardship project team 

of CropLife International, co-led 

by Monsanto, developed a compliance 

management protocol 

for conducting field trials of 

genetically modified crops. 

The protocol provides general 

information and specific technical 

guidance to help assure 

countries that the 

field trials within their 

borders will be safe, 

environmentally responsible, 

and compliant. It serves as 

a resource for researchers 

and a model for national 

guidelines in developing 

countries where regulations 

do not currently exist. CropLife 

International continues to 

implement outreach activities. 

Through training workshops 

and press conferences, it 

shares the protocol manual 

with international and 

regional organizations. 

ways for employees to raise questions or concerns 

— even anonymously and in various languages. 

We have procedures for handling these questions 

fairly, and we receive several hundred each year. 

Our Business Conduct Office collaborates with 

seven regional Business Conduct Working Groups. 

We also have a best-practices anti-bribery program, 

and robust, multilingual training programs featuring 

online modules, in-person presentations, and group 

discussions of business conduct case studies. Our 

website includes various handbooks and training 

materials. We revise and update these materials 

regularly. Annually, our employees must certify 

compliance with the code and explain any 

perceived lapses or violations of the policy. 

Through these initiatives, the Business Conduct 

team helps all Monsanto employees embed integrity 

in all they do. 

This is one of the first 

examples of industry 

collaboration in developing 

biotechnology best practices 

and strategically planning 

global outreach. Our goal for 

this project is to enable safe, 

environmentally responsible, 

and legally compliant management 

of genetically modified 

crop field trials, particularly by 

researchers in the developing 

world, where the benefits of 

agricultural biotechnology 

offer so much hope.

Community Contributions 


We believe in strengthening the communities in which we operate.Through 

charitable giving, employee volunteer efforts, and collaboration with local 

organizations, Monsanto people take action to help others in need. 

Helping in Our Communities 

through Philanthropy 

Monsanto’s philanthropic efforts are spearheaded 

by the Monsanto Fund, which supports organizations 

and programs as varied as the places around 

the globe where we do business. The Monsanto 

Fund’s goal is to improve the lives of people by 

bridging the gap between their needs and their 

resources. We provide support in four areas: 

1. Science education, with grants to communities 

near Monsanto facilities for programs that 

support science literacy. 

2. Helping families learn more about sustainable 

agriculture and ways to improve nutrition, 

including research about alleviating vitamin 

deficiency and reducing the impact of pests 

on subsistence crops. 

3. Work that benefits the environment, including 

programs that promote environmental education 

and awareness, improve water quality, protect 

wildlife habitats, and encourage conservation. 

4. Community efforts, including arts and cultural 

events, local school projects, human needs 

programs, and community services projects. 

The Monsanto Fund’s total contributions for 

2005 were $12.6 million. The amount given to 

organizations outside the United States during 

that period was $4.9 million. More information 

on charitable contributions is available in the 

2004-05 Monsanto Fund Global Contributions 

Report or at www.monsantofund.org. 

UPPER: A smallholder farmer in Butere-Mumias, Kenya, 

participates in a dairy production program supported by 

the Monsanto Fund. 

MAJOR CONTRIBUTIONS BY WORLD AREA 

BY THE MONSANTO FUND 

NORTH AMERICA 

Habitat for Humanity Winnipeg . . . . . . . . . . . . . Canada 

Nature Conservancy . . . . . . . . . . . . . . . . . United States 

National Fund for the 

U.S. Botanical Garden. . . . . . . . . . . . . . . . United States 

SOUTH AMERICA 

Agro-Technical Institute “Margarita 

O’Farrell De Maguire”. . . . . . . . . . . . . . . . . . . . Argentina 

Club Rotario Bogatá-Laureles . . . . . . . . . . . . . Colombia 

Fundação Arthur Bernardes . . . . . . . . . . . . . . . . . Brazil 

EUROPE/AFRICA 

American Red Cross/ 

Kenyan Red Cross . . . . . . . . . . . . . . . . . . . . . . . . . . Kenya 

Friends of the World Food Program . . . . . . . . . Malawi 

International Federation 

for Home Economics . . . . . . . . . . . . . . . . . . . . . Moldova 

ASIA/PACIFIC 

International Rice and 

Research Institute . . . . . . . . . . . . . . . . . . . . . Philippines 

Helen Keller International . . . . . . . . . . . . . . . Philippines 

Shoes for Hope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . India


The Monsanto Fund pledged $1 million 

to relief efforts and set up an employeeto-employee 

donation program. 

$ 1million 

Emergency responders and volunteers help rescue 

people trapped after the flooding of hurricane Katrina 

in New Orleans, Louisiana. 

After Katrina, Employees 

Help Restore Plant, Community, 

and Each Other’s Lives 

Hurricane Katrina, one of the largest natural 

disasters ever to strike the United States, affected 

the lives of millions of people in the Gulf Coast 

region. More than 204,000 homes sustained 

damage from the August 2005 storm. 39 Monsanto’s 

Roundup agricultural herbicide manufacturing 

plant in Luling, Louisiana, is located just 25 miles 

upriver from New Orleans, and its operations and 

employees were affected. Our teams took quick 

action to prepare for and respond to the storm, 

which helped to limit its effect on the plant’s operations, 

our employees, and the Luling community. 

After the storm passed, our employees looked for 

other ways to help coworkers, their families, and 

other New Orleans community members. 

As the storm approached, the Luling team activated 

its hurricane plan and began shutting down production. 

The plant was safely shut down and secured 

within 24 hours. Damage to the plant from the 

hurricane was moderate. However, restarting the 

plant was an unprecedented challenge. The plant 

was affected by the loss of electricity across the 

region, limited generator power, a lack of transportation 

and fuel in the region, and no communications. 

To address these challenges, a Hurricane Katrina 

Crisis Team was formed. Through its efforts, the 

plant was back to full operation four days after 

power was restored. 

Just as important, however, was the well-being of 

our employees. Immediately following the storm, a 

team began locating employees who had scattered 

throughout the country. Employee contacts were 

facilitated through our Internet site. An extensive 

network of employee-to-employee contacts 

emerged. All 659 employees were located within 

one week. Some employees even helped with the 

overall rescue of New Orleans residents. 

Eighty-two Luling employees and their families 

could not live in their homes because of extensive 

damage. Our teams worked to provide housing 

assistance to those who were displaced. The 

Monsanto Fund pledged $1 million to regional 

relief efforts and set up an employee-to-employee 

donation program. Through this program, Monsanto 

employees and retirees gave $95,000 to aid their 

colleagues. Luling employees have also been 

helping each other. The Luling Plant Volunteer 

Corps, a team of more than 75 employees and 

family members, have been helping others with 

demolition, cleanup, and repair of homes 

damaged by the hurricane. 

It may be many years before the New Orleans 

area fully heals, but the efforts of our employees 

in Luling and around the world showed that we 

pull together in a crisis. Because of this teamwork, 

Monsanto’s Roundup business, our employees’ 

families, and the Luling community were better 

able to weather the storm.


Employee Volunteer Program Helps South Korean 

Smallholder Farmers during a Labor Shortage 

Like young people in many other 

developed nations, young South 

Koreans have been leaving 

farming for work in the cities. 

This has created a labor 

shortage in the Korean agricultural 

industry, especially among 

small family-owned farms. 

Without additional labor, many 

of these farms are in danger 

of going out of businesses. 

To help alleviate the situation, 

the Seminis Human Resources 

and Sales teams in South Korea 

organized a volunteer effort 

among employees to help local 

farms prepare for the upcoming 

season. More than 230 

employees volunteered and 

worked almost 2,000 hours 

with farmers in Daegu, a 

region especially hard hit 

by labor shortages. 

In addition to helping the local 

farmers with some of their most 

labor-intensive tasks, the project 

benefited the local community. 

Ensuring that the farmers were 

well prepared for the melongrowing 

season helped to 

preserve the local agricultural 

industry. The project provided 

many opportunities for dialogue 

between Seminis employees 

and the farmers, increasing 

their understanding of each 

others’ concerns. By volunteering 

to help during a time 

of need, the team got to know 

the local farmers as partners 

in the agriculture business. 

School Renewal Project Improves Educational Opportunities in Tlajomulco, Mexico 

Around the world, a quality education is seen 

as one of the most important tools to improve 

children’s chances for success. Nonetheless, 

schools in many communities struggle because 

of a lack of resources. In early 2005, employees 

of our Tlajomulco Breeding Center in San Miguel 

Cuyutlán, Mexico, began a volunteer project to 

renovate a school and to provide students with 

a better learning environment. 


The team selected the Manuel López Cotilla School, 

which was in a state of disrepair and could benefit 

from community assistance. Through individual 

employee contributions, a grant from the Monsanto 

Fund, and funding from Fondo Unido de Jalisco 

(a United Way affiliate), the team raised $9,500 for 

the project. The municipal government provided 

an additional $4,700. By July, the team replaced 

walls and ceilings in classrooms, improved bathrooms, 

installed a large water reservoir, connected 

the building to the municipal sewer system, 

installed new lighting, built a storage room, 

and painted the interior. 

Because of the team’s efforts, children 

in Tlajomulco now have a safe, inviting, 

and functional environment for learning, 

which increases their chances for success. 

The program has also inspired many companies 

operating in the area to adopt other schools.


Investing in Our People 

The Monsanto Pledge acknowledges the importance of a positive, empowering 

culture that allows employees to achieve their highest potential, to 

embrace shared goals, and to support each other along the way. Our Pledge 

commitments guide our public behavior.They also provide a framework 

for interaction between leadership and employees. Ultimately, all Monsanto 

people are responsible for the company’s success. 

People Strategy Raises Our 

Competitive Advantage 

Monsanto’s people strategy is tied to our business 

strategy. It is designed to help us fulfill our Pledge 

to create a great place to work. It advances our 

ability to attract, develop and retain the talent we 

need to achieve our business objectives. It also 

creates a high standard of excellence for our 

people processes and enables us to measure 

the effectiveness of those processes. 

We strive to select, develop, and retain employees 

who exhibit five global competencies: relationships 

and networks, courage and candor, agility, initiative 

and foresight, and results orientation. We created 

new interview guides based upon these 

PHOTO BELOW: The Monsanto Fund provided a 

$60,000 grant for, and more than 70 Monsanto 

Canada employees volunteered to build, 

this Habitat for Humanity home 

in Winnipeg, Canada. 

RECENT HONORS 

The Scientist . . . . . . . . . . . . Top 10 Best Places to Work 

Computerworld . . . . . . . 100 Best Places for IT Workers 

St. Louis 

Business Journal . . . . . . . . . . . . . . . Best Places to Work 

CIO Magazine . . . . . . . . . . . . 2006 CIO 100 Recognition 

Mexico . . . . . . . . . . . . . . . . . . . . . . . . Best Places to Work 

Deloitte 

(South Africa) . . . . . . . . . . . Best Companies to Work For 

Science . . . . . . . . . . . . . . . . . . . . . . . . 2005 Top Employer 

R&D Magazine . . . . . . . . . . . . . . . . . . . . . . . . . . . R&D 100

competencies to ensure consistent interview 

processes worldwide, and we have created a 

People Leader Learning Series to help people 

managers and team leaders foster success among 

their direct reports. In addition, to help networks 

and cross-functional teams work more effectively, 

we offer tools for decision-making, goal setting and 

conflict resolution. 

Our commitment to diversity is central to our people 

strategy. To sustain and extend our business across 

all world areas, we need diverse business perspectives 

and the flexibility to work with a variety of 

people wherever we conduct business. Toward 

that goal, we encourage and support a variety of 

employee-organized affinity groups and people 

teams in functional and technical areas. A common 

focus of these teams is ongoing professional 

development and technical education. 


IT Diversity Program Helps Employees Facilitate 

Dialogue and Create a Great Place to Work 

In 2004, our Information 

Technology organization 

began a diversity outreach 

effort among its employees 

and others within the company 

to further our commitment to 

diversity. The program is a 

monthly lunchtime speaker 

series, conducted by 

employees who present 

information on relevant topics 

to increase their colleagues’ 

understanding of our diverse 

work force. 

The team invites Monsanto 

employees from around the 

world to share their cultures, 

perspectives, and experiences 

with co-workers. Through the 

use of networking software 

and telecommunication technology, 

the program is easily 

accessible to audiences 

around the world. Audience 

members use this program 

as a forum for dialogue 

about special topics and 

cultural differences. The 

program has helped build 

many new personal and 

professional networks. 

Employees understand and 

value diverse viewpoints more 

when they learn about their 

colleagues’ personal stories, 

cultural values, and geographic 

Benefits and Compensation 

Support Our Strategy 


We believe that employee compensation, recognition, 

and benefits are integral to our business 

success. Our compensation and benefits philosophy 

is to provide competitive rewards to attract 

and retain the best talent and to foster a greater 

sense of ownership in the company. We have an 

incentive reward program at the individual, team 

and business levels. We also realize that people are 

most productive and happy when they have time 

and latitude to enjoy life outside of the company with 

family and friends. To encourage a good balance 

between work and home, in many locations we offer 

flexible hours, job sharing, a generous vacation 

policy, and in some places on-site day care and 

fitness centers. 40 

backgrounds. This exchange 

helps our employees become 

more likely to understand 

and be sensitive to members 

of diverse communities. In 

addition to creating a great 

place to work it increases the 

diversity and cultural agility of 

our work force.

48 THE SUM OF OUR COMMITMENTS 

Endnotes 

1. United Nations Population Division. (n.d.). World population 

prospects: The 2004 revision. Retrieved September 1, 2006 

from http://esa.un.org/unpp/ 

2. World Food Programme. (2002, March). Reducing poverty and hunger: 

The critical role of financing for food, agriculture and rural development. 

Presented at the International Conference on Financing for Development, 

Monterrey, Mexico. Rome: Author. 

3. Energy Information Administration. (2006, June). International energy 

outlook 2006. (DOE/EIA-0484). Washington, DC: U. S. Government 

Printing Office. 

4. United Nations Environment Programme. (2003, November). 

How will global warming affect my world? Geneva: Author. 

5. World Health Organization. (n.d.) Cardiovascular disease: Prevention 

and control. Retrieved September 1, 2006 from http://www.who.int/ 

dietphysicalactivity/publications/facts/cvd/en/index.html 

6. Friends of the World Food Program. (2005, August 26). 

Monsanto Fund donates US$1 million to support WFP operations 

in Malawi [News release]. 

7. Wilkinson, J. (2002, September). Statement of the International 

Federation of Agricultural Producers. Presented at the World Summit 

on Sustainable Development, Johannesburg, South Africa. 

8. International Food Information Council. (2004, May). 

Agriculture and food production. Retrieved September 1, 2006 

from http://ific.org/food/agriculture/index.cfm 

9. U.N. Department of Economic and Social Affairs, Statistics Division. 

(n.d.) Progress towards the Millennium Development Goals, 1990-2003. 

Retrieved September 1, 2006 from http://www.un.org/specialrep/ohrlls/ldc/MDGs/Goal_1-final.pdf 

10. Corey, C. (2005, December 28). U.S. company donates maize seed 

to farmers in Malawi: Monsanto’s contribution expected to feed more 

than 1 million people. U.S. State Department. Washington, DC: U.S. 

Government Printing Office. 

11. Worldwatch Institute. (2006). Biofuels for transportation: Global potential 

and implications for sustainable agriculture and energy in the 21st 

century. Washington, DC: Author. 

12. ProExporter Network. (March, 2006). [Untitled slide presentation]. 

Presented at the Fifteenth annual world grain workshop and market 

outlook. Kansas City, MO. 

13. Bellantoni, C. (2006, May 12). Democrats push ethanol growth. 

Washington Times. 

14. Daschle, T., and Khosla, V. (2006, May 8). Miles per cob. New York Times. 

15. U.S. Energy Information Administration. (n.d.). Ethanol energy timeline. 

Retrieved September 1, 2006 from http://www.eia.doe.gov/kids/history/ 

timelines/ethanol.html 

16. Farrell, A. E., Plevin, R. J., Turner, B. T., Jones, A. D., O’Hare, M., and 

Kammen, D. M. (2006). Ethanol can contribute to energy and environmental 

goals. Science, 311, pp. 506-508. 

17. Hill, J, Nelson, E., Tilman, D., Polansky, S., and Tiffany, D. (2006). 

Environmental, economic, and energetic costs and benefits of biodiesel 

and ethanol biofuels. Proceedings of the National Academy of Sciences. 

(PNAS 103: 11206-11210). 

18. Zhang, Y., Dubé, M. A., McLean, D. D., and Kates, M. (2003). 

Biodiesel production from waste cooking oil: 2. Economic assessment 

and sensitivity analysis. Bioresource Technology, 90, 229-240. 

19. Lal, R., Kimble, J. M., Follett, R. F., and Cole, C. V. (1998). The potential 

of U.S. cropland to sequester C and mitigate the greenhouse effect. 

Chelsea, MI: Ann Arbor Press. 

20. Intergovernmental Panel on Climate Change. (2000). Land: Use, change, 

and forestry. Cambridge: University Press. 

21. No-till CO2 sequestration calculation based on the fact that a gallon 

of gasoline weighs 6.2 lbs., contains 5.39 lbs. of carbon, and emits 

19.8 lbs. of CO2 when burned. Retrieved September 1, 2006 from: 

Conservation Technology Information Center. 

22. United Nations Environment Programme. (2006). Global Environmental 

Outlook Yearbook, 2006. Nairobe, Kenya: Author. 

23. United Nations Environment Programme. (2006). 

Our Planet, 16, 3. pp. 16-17. 

24. World Wildlife Fund. Agriculture. Retrieved September 1, 2006 from 

http://www.worldwildlife.org/cci/agriculture.cfm 

25. Runge, C. F. (2002). King corn: The history, trade, and environmental 

consequences of corn (maize) production in the United States. 

Washington, DC: World Wildlife Fund. 

26. Pesticides registered by the U.S. Environmental Protection Agency will 

not cause unreasonable adverse effects to humans or the environment 

when used in accordance with label directions. 

27. Rosenberg, N. J. Izaurralde, R. C., and Malone, E. L. (1998). Proceedings 

of the St. Michael’s workshop on soil sequestration. In Soil: Science, 

monitoring, and beyond. Columbus, OH: Battelle Press. 

28. Center for Science in the Public Interest. (2004). TransFreeAmerica 

campaign launched. Retrieved September 1, 2006 from 

http://www.cspinet.org/new/200405181.html 

29. U.S. Department of Health and Human Services and U.S. Department of 

Agriculture. (2005). Dietary guidelines for Americans, 2005. Washington, 

DC: U.S. Government Printing Office. 

30. Trans fat content of processed foods and vegetable oils is likely to 

change as the food industry continues to reformulate products. 

31. U.S. Food and Drug Administration. (2006). Questions and answers 

about trans-fat nutrition labeling. Retrieved September 1, 2006 from 

http://www.cfsan.fda.gov/~dms/qatrans2.html 

32. Cargill. (2005, October 6). Cargill to process Monsanto’s Vistive lowlinolenic 

soybeans [News release]. Retrieved September 1, 2006, from 

http://www.cargill.com/news/news_releases/2005/051006_vistive.htm 

33. American Heart Association. (n.d.). Trans Fatty Acids. Retrieved 

September 1, 2006 from http://www.americanheart.org/ 

presenter.jhtml?identifier=3030450 

34. Monsanto was first incorporated as a stand-alone subsidiary of 

Pharmacia in 2000; it was then spun off as a separate company in 2002. 

35. Does not include 2006 acquisitions. 

36. Horan, W. (2002, May). Farmers as consumers: Making choices. 

Presented at Foods for Health: Vol. 14, The integrating agriculture, 

medicine, and food for future health. University of Minnesota. 

37. James, C. (2005). Executive summary of global status of commercialized 

biotech/GM crops: 2005. ISAAA Briefs, 34. Ithaca, NY: ISAAA. 

38. Brookes, G., and Barfoot, P. (2005). GM crops: The global economic 

and environmental impact: The first nine years 1996-2004. 

AgBioForum, 8, 187-196. 

39. Thomasson, D. (2006, August 29). One year forward: Gulf Coast 

revival will take longer than expected. Evansville Courier and Press. 

40. Details of benefits vary by country. For specific information on 

employee benefits, please contact the Monsanto human resources 

office in the particular country.

About Monsanto 

Monsanto is a leading provider of agricultural solutions 

to growers worldwide. Monsanto’s employees provide topquality, 

cost-effective, integrated solutions to help farmers 

improve their productivity and produce better quality foods. 

For more information about Monsanto — its products, 

leadership, and Pledge commitments — visit 

www.monsanto.com. 

Trademarks and service marks owned or licensed by 

Monsanto and its subsidiaries are indicated by special 

type throughout this publication. 

Unless otherwise indicated by the context, references to 

Roundup products in this report mean Roundup branded 

herbicides and other glyphosate-based herbicides; all 

such references exclude lawn-and-garden products. 

This report is printed on recycled paper that contains at 

least 10 percent postconsumer waste with soy-based inks. 

© 2006 Monsanto Company

’06 

Pledge Report 

Monsanto Company, 

800 North Lindbergh Boulevard 

St. Louis, Missouri 63167, U.S.A. 

www.monsanto.com 

MAG06007 

We Want to Hear From You 

Tell us what you think. Please send your 

thoughts to Diane Herndon via email: 

diane.b.herndon@monsanto.com.

2006 - Monsanto

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