By Leah Douglas
(Reuters) – U.S. and United Arab Emirates announce $29.2 billion funding for climate-friendly farming initiative at COP29 summit
The Agriculture Innovation Mission for Climate (AIM for Climate) receives major boost in funding at COP29 summit, reaching $29.2 billion. This initiative aims to reduce the climate impact of agriculture and enhance farming resilience to global warming.
Food systems contribute significantly to greenhouse gas emissions, with agriculture and land use accounting for a third of human-made emissions. The AIM for Climate program seeks to address these issues through innovative projects and partnerships.
"Investing in agricultural research and development is crucial for building prosperity and resilience in the face of unprecedented challenges," stated U.S. Agriculture Secretary Tom Vilsack.
The five-year AIM for Climate program, set to conclude in 2025, has already announced nearly 130 projects with over 800 partners. These projects focus on supporting small farmers, reducing methane emissions, and promoting technological advancements in farming.
With $17 billion secured at COP28 and $8 billion at COP27, the funding for AIM for Climate continues to grow, reflecting a global commitment to sustainable agriculture practices.
Analysis:
The U.S. and United Arab Emirates have announced a significant funding boost of $29.2 billion for the Agriculture Innovation Mission for Climate (AIM for Climate) initiative at the COP29 climate summit. This initiative aims to address the impact of agriculture on climate change by supporting projects that reduce emissions and enhance farming resilience. With a focus on research, innovation, and partnership, the program is set to make a positive impact on global food systems and contribute to a more sustainable future. The increasing funding for AIM for Climate reflects a growing commitment to sustainable agriculture practices worldwide.