AIM for Climate announces more than $17b investments at COP28 - GulfToday

AIM for Climate announces more than $17b investments at COP28

Mariam Almheiri speaks at the COP28 UN Climate Summit on Friday in Dubai. Associated Press

Mariam Almheiri speaks at the COP28 UN Climate Summit on Friday in Dubai. Associated Press

The Agriculture Innovation Mission for Climate (AIM for Climate), a global initiative spearheaded by the United Arab Emirates and the United States, on Friday announced more than doubling of investments, partners, and Innovation Sprints in transformative climate-smart agriculture and food systems innovation, at the 28th United Nations Climate Change Conference (COP28).

With the support of over 600 government and non-government partners, AIM for Climate announced an increased investment of more than $17 billion, up from $8 billion at COP27, representing a more than doubling of investments. The increased investment comprises over $12 billion from Government Partners, with contributions from Australia, Bahrain, Bangladesh, Brazil, Canada, Colombia, Denmark, the Dominican Republic, the European Commission, Finland, Germany, Guatemala, Honduras, Hungary, Ireland, Israel, Japan, Lithuania, Mexico, Morocco, the Netherlands, New Zealand, the Philippines, the Republic of Korea, Romania, Singapore, Spain, Sweden, Ukraine, United States, United Arab Emirates, United Kingdom, Uruguay, and Vietnam and over $5 billion investment from Innovation Sprints.

AIM for Climate introduced 27 Innovation Sprints, initiatives led and self-funded by partners to achieve expedited results in agricultural and food systems innovation. There are now 78 Innovation Sprints in total, more than double what was announced at COP27, aligned with one or more of AIM for Climate’s Innovation Sprint focal areas: Smallholder Farmers in Low- and Middle-Income Countries; Emerging Technologies; Agroecological Research; and Methane Reduction.

The investments in the AIM for Climate initiative are enabled and supported by a coalition that has more than doubled in partners to over 600. This diverse group includes governments, businesses, academia, non-profits, think tanks, and more.

The new investments, partners, and Innovation Sprint announcements were made by AIM for Climate co-leads US Secretary of Agriculture Tom Vilsack and UAE Minister of Climate Change & Environment, Mariam Bint Mohammed Almheiri at the UAE Pavilion, COP28. These announcements underpin AIM for Climate’s progress in significantly increasing investment in and other support for climate-smart agriculture and food systems innovation over the period of 2021 to 2025.

Dignitaries at the event emphasised the urgent need for innovative approaches in agriculture and food systems to confront 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.

Through these collaborative efforts, AIM for Climate demonstrates a commitment to developing sustainable and resilient agricultural practices to address climate change and global hunger.

The remarks at the event reflected the ongoing discussions at COP28, revolving around the intersection of climate change, food systems, and agricultural innovation.

Mariam Bint Mohammed Almheiri said: “We are witnessing tremendous progress in transforming the global food and agricultural systems at COP28, which has placed the theme at the heart of the Presidency agenda. The world has rallied together for the implementation of the ‘COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action’ with 134 nations endorsing it, in addition to support gained from non-state partners. The significant traction gained by AIM for Climate is another step in promoting climate-smart agriculture, driven by innovation and advanced technology, which is critical to strengthening productivity and building sectoral resilience.”

US Secretary of Agriculture Tom Vilsack said: “As we convene at COP28, I am pleased to announce our new investments and partnerships under the AIM for Climate initiative. Together, with the UAE and our global partners, we are dedicated to meeting our climate goals, enhancing food security, and building a sustainable future for our planet. This partnership embodies our shared commitment to accelerating investments in transformative food systems and climate-smart agricultural innovations and we look forward to working with everyone on the road to COP30. Our joint efforts are not just about climate-smart agricultural advancements but about nurturing ambition, catalyzing action, and fostering hope towards a more sustainable, resilient, and prosperous world for all.”

AIM for Climate was launched by the President of the United States at the 26th United Nations Climate Change Conference (COP26).

AIM for Climate recognizes the wide range of participants necessary to achieve its goal and seeks to draw on diverse knowledge, experiences, and cultures.

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