Funding for US, UAE farm climate project grows to $13 billion

US Materials 9 May 2023 07:25 (UTC +04:00)
Funding for US, UAE farm climate project grows to $13 billion

Funding for a US and United Arab Emirates-led initiative to advance climate-friendly farming practices around the world has grown to more than $13 billion, a US official said on Monday, Trend reports citing Al Arabiya.

The Agriculture Innovation Mission for Climate (AIM for Climate) was launched in 2021 and seeks to unite nations to cut agriculture emissions, which account for about 10 percent to 12 percent of greenhouse gas emissions from sources like livestock manure, machinery and fertilizer application, according to the Intergovernmental Panel on Climate Change.

US Agriculture Secretary Tom Vilsack announced the latest funding figures at the AIM for Climate summit in Washington, DC, on Monday during an appearance alongside UAE Minister for Climate and the Environment Mariam Almheiri and former US vice president Al Gore.

About $10 billion of the $13 billion investment is from governments and the rest is from non-government parties funding initiatives to support smallholder farmers, emerging technologies and methane reduction, a US Department of Agriculture spokesperson said.

“Climate change continues to impact longstanding agricultural practices in every country and a strong global commitment is necessary to face the challenges of climate change head-on,” Vilsack said in a statement.

The UAE will host the COP28 climate change talks this fall. As of COP27 last November, $8 billion had been pledged for AIM for Climate.

The AIM for Climate summit lasts through Wednesday and will feature officials from Canada, the United Kingdom and the Netherlands as well as academics and company executives.