The United States and United Arab Emirates have boosted their funding from $13 billion to $17 billion to fund farming practices that reduce greenhouse gas emissions and/or sequester carbon.
The Agriculture Innovation Mission for Climate (AIM for Climate) was launched in 2021 at COP26 in Glasgow and its funding comes from governments, companies, and non-governmental organizations.
Globally, food and farming contribute about a third of anthropogenic greenhouse gas emissions, according to the United Nation’s Food and Agriculture Organization.
Nearly 80 projects have been announced under the AIM for Climate initiative since 2021, with goals to expand agricultural research, implement sustainable farming practices and reduce methane emissions.
“This partnership embodies our shared commitment to accelerating investments in transformative food systems and climate-smart agricultural innovations,” said United States agriculture secretary Tom Vilsack.
The fund has grown from $13 billion in May and from $8 billion at COP27.
The new total includes $12 billion from governments and $5 billion from non-government parties such as companies and humanitarian organizations, said an AIM for Climate spokesperson.
The 27 new projects announced at COP28 range in size from $150,000 to $500 million.
Partners include Bunge, Google, The Nature Conservancy and the Brazilian state of Para. Regenerative agriculture generally refers to practices such as reduced tillage and reduced pesticide use.
For the first time, agriculture is a major focus at this year’s climate summit.
“We are witnessing tremendous progress in transforming the global food and agricultural systems at COP28,” said UAE Minister for Climate and the Environment Mariam Almheiri.
