Within the policy, we discuss our due diligence process that includes a detailed agronomic review and commissions an independent third-party farmland evaluation report.
While we do not dictate to our partners how to operate their farms, we are an active owner. Bonnefield Standards of Care (farming best practices) form a fundamental part of Bonnefield's leases. Each tenant is required to comply and report annually on the implementation of the Standards of Care. In addition to Bonnefield's internal review, an independent third-party agrologist also reviews this information. Bonnefield has adopted best practices for the governance of its funds, including investor advisory committees, semi-annual independent appraisals of all properties in its portfolios, the use of third-party payment certifiers for capital expenditures, detailed periodic reporting, independent audits of financial statements, and transparent disclosure policies.
From a social perspective, Bonnefield's founders realized that the long-term success of the company in the Canadian agricultural community would require alignment of its investing activities with the best interests of farm families and their communities.
Bonnefield has established a set of core operating principles:
we do not buy land for non-agricultural redevelopment;
our agronomic standards must balance exemplary farmland stewardship, sustainable farming practices and affordable farming operations;
we aspire to become a long-term partner with our Canadian farm operator clients;
our programs must assist Canadian farm operators to build or maintain scale, become more profitable, improve cash flow and/or reduce debt;
we will not dictate to our partners how to operate their farms; and
our farmland lease programs must create an "as if owned" relationship with the leased land for the farm operator.