US-UAE push for another $4bln in farming climate change investment

US-UAE push for another $4bln in farming climate change investment

The United States and the United Arab Emirates are seeking an additional $4 billion of global investment in an initiative launched last year to make agriculture resilient to climate change and reduce its emissions, a US official said on Sunday.

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The two countries launched the Agriculture Innovation Mission for Climate (AIM for Climate) at COP26 climate talks in November, aiming for $4 billion investment from governments and non-government innovation partners between 2021-2025.

AIM now wants $8 billion in climate-smart investment commitments by the November COP27 climate talks in Egypt, US Secretary of Agriculture Thomas Vilsack told Reuters ahead of AIM’s first ministerial meeting in Dubai on Monday.

“We believe we actually need to set a higher goal. President Biden believes we should get $8 billion by COP27,” Vilsack said.

The initiative is supported by 140 partners who have agreed to increase public and private investment in climate-smart agriculture research and practices.

The initial $4 billion target comprised $1 billion each from the US and UAE governments, $1.8 billion from other governments and $200 million from non-government partners.

The US Department of Agriculture recently said it would invest $1 billion in pilot projects for