Another important topic, that being sustainable agriculture, was discussed by Etienne Variot, co-founder of fintech startup Rize, in the panel "Regenerative agriculture: New business models to cut emissions and restore soil health".

He stated that "agriculture is a foundation of our societies and it is the reason for employing a quarter of the global workforce and more than a third of the farmers' lands are being cultivated."

Due to its importance in the global economy, agriculture is also responsible for 25% of the world's greenhouse gas emissions, according to the speaker, but it also has the potential to capture that carbon and store it in the soil long-term.

Climate change, which causes uncontrollable events, such as droughts and heatwaves, is lowering the productivity of farms around the world, stressing our food system.

"We are seeing a shortage in water, that's what happened this summer in Europe and it's going to increase (in frequency) due to climate change, but also a shortage of raw materials, such as fertilizers", he added.

These are not the only issues, as the quality of the soil itself is starting to degrade, according to experts, who are seeing a decrease in fertility and an increase in the number of areas suffering from desertification.

One potential solution to solve this issue comes in the form of regenerative agriculture, which aims to restore and conserve ecosystems, to use the soil as the production factor and to reduce the use of chemicals.

While it brings many benefits, regenerative agriculture isn't easy to implement by farmers.

First of all, this way of farming requires a significant investment and in the first four to five years of transitioning to it, farmers could see their profits drop by some 20-25%.

Also, they are likely to need new equipment, which is part of the investment and farm owners also need to effectively re-learn how to farm adequately.

But that's not all, as a real risk in the eyes of Etienne Variot, is the fact that during the transitioning period, one farm could see a completely unproductive yield over the course of a year, which can mean that it could go bankrupt.

This huge risk can be mitigated if farmers are given the support they need from the authorities and companies, but it can be worth is, as the founder of Rize thinks that farming nowadays doesn't just put food on our tables.

According to him, modern agriculture should bring more benefits to consumers, such as protecting ecosystems, remove carbon from the atmosphere and also preserving water quality.

By reducing the carbon footprint of their operations and getting involved in carbon capture projects, farmers can bring themselves additional revenue, which is also due to the fact that prices for carbon have increased significantly.

You can watch the first day of the Climate Change Summit event below.