Food’s climate funding tops $7 billion during COP28
In two decades through 2021, support for agri-food systems totaled $183 billion. Contributions fell 12% to $19 billion in 2021 from a year earlie
New money pledged for the global food system’s climate fight topped $7 billion during this year’s COP28 summit.
The financing has been promised for helping farmers curb their footprint and adapt to climate change, including through innovation and regenerative agriculture.
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Major pledges include $519 million funding for research consortium CGIAR and $389 million from philanthropies, according to COP organizers.
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From farming to processing and consumption, food accounts for about a third of global greenhouse gas emissions.
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The climate summit in Dubai has sought to elevate food at this year’s talks. On Sunday it held the Food, Agriculture and Water Day — the first ever dedicated entirely to food systems.
Still, the amount of climate funding going to agri-food systems is “strikingly low” and continues to diminish compared with global climate finance flows, the United Nations’ Food & Agriculture Organization said Sunday.
In two decades through 2021, support for agri-food systems totaled $183 billion. Contributions fell 12% to $19 billion in 2021 from a year earlier.
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