This paper reviews the feedbacks between structural transformation and agriculture, on the one hand, and climate and the natural environment, on the other. The longstanding, dominant economic development narrative largely ignores nature’s influence on factor productivity and stocks, even as it increasingly illustrates how agricultural technological change and economic growth affect nature. We articulate some of the missing linkages and pose a range of policy research questions worth exploration concerning structural transformation and the complex feedback among agriculture, nature, and economic growth processes, especially in the low-income agrarian nations of the Global South.