[ad_1]
Dubai: The UAE and the United States doubled their joint fund to support agriculture in combating the adverse effects of climate change at COP28 to $17 billion.
The AIM Climate Fund was initially launched at COP26 in Glasgow, with investment doubled ($8 billion at COP27) thanks to a $12 billion investment in contributions from government partners. The fund is supported by more than 600 government and non-government partners.
Donations come from many countries, including Australia, Bahrain, Bangladesh, Brazil, Canada, Colombia, Denmark, Dominican Republic, European Commission, Finland, Germany, etc.
Significant traction
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, said: “AIM for Climate has received significant impetus in promoting climate-smart agriculture, driven by innovation and advanced technologies. Another step forward that is critical to increasing productivity and building sectoral agriculture resilience.
The minister said the climate conference had witnessed tremendous progress in transforming the global food and agricultural system.
“The world has come together to implement the ‘COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems and Climate Action’, endorsed by 139 countries, in addition to the support of non-state partners,” the minister said.
The new investment and other announcements related to the fund’s growth were made on Friday by U.S. Agriculture Secretary Tom Vilsack and the UAE Minister of Climate Change, co-led by AIM for Climate. These announcements solidify AIM for Climate’s progress in significantly increasing investment and other support for climate-smart agriculture and food systems innovation between 2021 and 2025.
$5 billion from innovation sprints
Additionally, more than $5 billion in investment came from Innovation Sprints—partner-led and self-funded initiatives designed to accelerate results from innovations in agriculture and food systems.
There are currently 78 Innovation Sprints, more than double the number announced at COP27, aligned with one or more of AIM for Climate’s Innovation Sprint focus areas. They are: smallholder farmers in low- and middle-income countries; emerging technologies; agroecological research; and methane reduction.
Participants emphasized the urgent need for innovative approaches in agriculture and food systems to address the climate crisis.
Additionally, they highlighted the importance of investing in climate-smart agriculture and food systems, demonstrating how AIM for Climate partners and innovation sprints are driving innovation through new investments.
[ad_2]
Source link