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By Lisa Barrington
DUBAI (Reuters) – The US and the United Arab Emirates are in search of a further $4 billion of worldwide funding in an initiative launched final yr to make agriculture resilient to local weather change and cut back its emissions, a U.S. official mentioned on Sunday.
The 2 international locations launched the Agriculture Innovation Mission for Local weather (AIM for Local weather) at COP26 local weather talks in November, aiming for $4 billion funding from governments and non-government innovation companions between 2021-2025.
AIM now needs $8 billion in climate-smart funding commitments by the November COP27 local weather talks in Egypt, U.S. Secretary of Agriculture Thomas Vilsack advised Reuters forward of AIM’s first ministerial assembly in Dubai on Monday.
“We consider we really must set the next objective. President Biden believes we must always get $8 billion by COP27,” Vilsack mentioned.
The initiative is supported by 140 companions who’ve agreed to extend private and non-private funding in climate-smart agriculture analysis and practices.
The preliminary $4 billion goal comprised $1 billion every from the U.S. and UAE governments, $1.8 billion from different governments and $200 million from non-government companions.
The U.S. Division of Agriculture lately mentioned it could make investments $1 billion in pilot tasks for climate-smart commodities, selling farming, ranching and forestry practices that minimize emissions.
Vilsack mentioned that initiative may qualify as a part of U.S. AIM for Local weather targets. “There are a variety of various methods these sources could possibly be recognized.”
The U.S. farming business is already battling the results of local weather change, together with elevated drought and flooding.
The UAE, a Gulf oil producer that imports the vast majority of its meals and desalinates seawater for potable water is investing closely in agricultural and water applied sciences, and clear vitality.
The UAE hosts COP28 local weather talks in 2023.
“Agriculture and meals programs supply immense alternatives for world local weather motion,” UAE Local weather Change Minister Mariam al-Mheiri mentioned in a press release.
IBM (NYSE:)’s pro-bono Sustainability Accelerator will change into one in every of AIM’s companions and can begin in India helping smallholding farms to undertake climate-smart practices, Vilsack mentioned.
Washington will host an AIM for Local weather summit in spring 2023.
“We do not have time to waste,” Vilsack mentioned.
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