COP27: UAE-US led initiative doubles investment to $8b in climate action

COP27: UAE-US led initiative doubles investment to $8b in climate action

The Agriculture Innovation Mission for Climate focuses on increasing investment in climate-smart agriculture and food systems

The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, delivers a speech during COP27 climate conference at the Sharm El Sheikh International Convention Center. — Wam

Published: Fri 11 Nov 2022, 9:48 PM

At the UN Climate Change Conference (COP27) in Sharm El Sheikh, a joint initiative led by the UAE and the US announced doubling of investments by partners in climate-smart agriculture and food systems innovation to $8 billion.

The Agriculture Innovation Mission for Climate (AIM for Climate) is an initiative led by the US and UAE governments, supported by 42 countries and 235 partners, with the focus on increasing investment in climate-smart agriculture and food systems innovation to accelerate climate action. The initiative was announced at COP26 in Glasgow by US President Joe Biden with an initial investment of $4 billion.

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The increased investment is comprised of more than $7 billion from government partners with contributions from Australia, Bangladesh, Canada, Denmark, the European Commission, Finland, Hungary, Ireland, Israel, Japan, Lithuania, New Zealand, South Korea, Romania, Singapore, Spain, Sweden, Ukraine, the US, the UAE, the UK, Uruguay, Vietnam, and over $1 billion investment from ‘innovation sprints’