According to a US official, the US and the UAE are seeking an additional $4 billion in worldwide investment in a program started last year to make agriculture more resilient to climate change and cut emissions. The two countries established the Agriculture Innovation Mission for Climate (AIM for Climate) during the COP26 climate summit in November, with a goal of a $4 billion investment between 2021 and 2025, governments and non-government innovative partners will collaborate.
U.S. Secretary of Agriculture Thomas Vilsack told Reuters ahead of AIM’s inaugural ministerial meeting in Dubai on Monday that the group now seeks $8 billion in climate-smart investment pledges by the November COP27 climate negotiations in Egypt.
140 partners have promised to expand public and commercial investment in climate-smart agriculture research and practices as part of the effort. The initial $4 billion goal included $1 billion each from the United States and the United Arab Emirates governments, $1.8 billion from foreign countries, and $200 million from non-government partners. The United States Department of Agriculture has announced a $1 billion investment in climate-smart commodities pilot projects, encouraging low-emission farming, ranching, and forestry techniques. According to Vilsack, the program might count toward the US AIM for Climate goals.
The farming business in the United States is already dealing with the repercussions of climate change, such as increasing drought and flooding. The United Arab Emirates, a Gulf oil producer that imports most of its food and desalinates saltwater for drinkable water, is aggressively investing in agricultural and water technology, as well as renewable energy. The UAE will host the COP28 climate talks in 2023.
In a statement, UAE Climate Change Minister Mariam al-Mheiri said, “Agriculture and food systems provide a great opportunity for global climate action.” According to Vilsack, IBM’s (NYSE: IBM) pro-bono Sustainability Accelerator will become one of AIM’s partners and will begin aiding smallholding farmers in India to implement climate-smart practices. In the spring of 2023, Washington will host an AIM for Climate meeting.
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