As the world gears up to fight climate change, agri-food systems are expected to play their part. The sector is increasingly being targeted and curbing emissions is becoming a key global investment and policy theme. This Investment Brief provides a synthesis of the evolving situation in agri-food systems from a carbon neutrality perspective. It explores key challenges and opportunities for achieving low-carbon agri-food systems. Despite prominent commitments to carbon neutrality, complex questions remain around how to measure it and achieve it in practice. This brief highlights the key problems with existing methods and standards to measure and track carbon neutrality in agri-food systems. It provides strategic insights on the steps needed to move the carbon neutrality agenda forward in terms of key investment opportunities and public policy priorities.