There is a "widening credibility gap" in how the world's biggest food companies are putting regenerative agriculture plans into practice, the FAIRR investor network argues in a new report.

The study, which assesses 78 publicly listed agri-food companies, praises some companies for "strong" governance, ambition, measurement and support for farmers but highlights how pledges have been dropped and the gaps in measuring action.

No company has set a target to reduce pesticide use as part of their regenerative agriculture programmes, FAIRR added.

According to the study, quantified regenerative agriculture targets have fallen from 35% of assessed companies in 2023 when FAIRR last issued a report on the topic to 28%.

The research showed 4% of companies have set outcome-based targets despite more than half (54%) claiming they measure regenerative agriculture outcomes.

FAIRR said more than half of companies identify reducing agrochemical inputs as a goal, yet "many of the most widely deployed regenerative agriculture practices can still rely on herbicides in implementation", adding: "Despite this, no company has set a pesticide reduction target."

The report said only US food manufacturer Conagra Brands, Danone, Nestlé and foodservice supplier Sysco are measuring herbicide use in their regenerative agriculture programmes.

FAIRR's María Montosa Ródenas said: "Regenerative agriculture has real potential to help agri-food companies build resilience against climate and nature-related risks. But potential is not the same as progress.

"Our research shows that corporate strategies remain fragmented and under-resourced. The pesticide contradiction at the heart of many programmes is particularly striking: companies cannot credibly claim to be restoring nature while deploying practices that undermine that goal. Investors need to push for outcome-based targets and company-wide reporting, or the regenerative agriculture opportunity will remain largely unrealised."

Nevertheless, FAIRR said there are grounds for "cautious optimism". The share of assessed companies measuring regenerative agriculture outcomes has risen from 16% in 2023 to 54% in 2026, the report said.

The researchers added more companies are connecting regenerative agriculture to their strategies on Scope 3 emissions. They said 52% of businesses make a quantitative or qualitative link, compared to 24% three years ago.

However, most measurement remains at the project level rather than across company operations, making it difficult for investors to assess the scale and impact of programmes, FAIRR said.