UAE, USA announce doubling of climate-related investments to US$17B

– money to go to partner countries for climate-resilient agriculture

Coming out of the 28th United Nations Climate Change Conference (COP28), it has been announced that climate-related investments will be doubled to US$17 billion, from a programme spearheaded by COP28 host United Arab Emirates (UAE) and the United States of America (USA).
The programme in question is the Agriculture Innovation Mission for Climate (AIM for Climate), a global initiative that seeks to promote transformative climate-smart agriculture and food systems innovation.
It was explained in a statement that in addition to increasing the financial component of the project, the partners have also increased to over 600 and ‘Innovation Sprints’ to 78, a decision made during COP28 in Dubai, UAE.
“With the support of over 600 government and non-government partners, AIM for Climate announced an increased investment of more than $17 billion, up from $8 billion at COP27, representing a more than doubling of investments. The increased investment comprises over $12 billion from government partners.”
The contributing countries and organisations also include Australia, Bahrain, Bangladesh, Brazil, Canada, Colombia, Denmark, the Dominican Republic, the European Commission, Finland, Germany, Guatemala, Honduras, Hungary, Ireland, Israel, Japan, Lithuania, Mexico, Morocco, the Netherlands, New Zealand, the Philippines, the Republic of Korea, Romania, Singapore, Spain, Sweden, Ukraine, United Kingdom, Uruguay, and Vietnam and over $5 billion in investment from Innovation Sprints.

“AIM for Climate introduced 27 Innovation Sprints, initiatives led and self-funded by partners to achieve expedited results in agricultural and food systems innovation. There are now 78 Innovation Sprints in total, more than double what was announced at COP27, aligned with one or more of AIM for Climate’s Innovation Sprint focal areas,” the statement added.
These focus areas include Smallholder Farmers in Low- and Middle-Income Countries; Emerging Technologies; Agroecological Research; and Methane Reduction.
“The investments in the AIM for Climate initiative are enabled and supported by a coalition that has more than doubled in partners to over 600. This diverse group includes governments, businesses, academia, non-profits, think tanks, and more.”
“The new investments, partners, and Innovation Sprint announcements were made by AIM for Climate co-leads US Secretary of Agriculture Tom Vilsack and UAE Minister of Climate Change & Environment, Her Excellency Mariam bint Mohammed Almheiri at the UAE Pavilion, COP28,” it was further explained.
Meanwhile, dignitaries at the event emphasised the urgent need for innovative approaches in agriculture and food systems to confront the climate crisis. Additionally, they highlighted the importance of investing in climate-smart agriculture and food systems, demonstrating how AIM for Climate partners and Innovation Sprints are driving innovation through new investments.
UAE’s Minister of Climate Change and Environment, Mariam bint Mohammed Almheiri, was quoted as expressing the tremendous progress that can be made in transforming global food and agricultural systems.
“The world has rallied together for the implementation of the ‘COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action’ with 134 nations endorsing it, in addition to support gained from non-state partners.”
“The significant traction gained by AIM for Climate is another step in promoting climate-smart agriculture, driven by innovation and advanced technology, which is critical to strengthening productivity and building sectoral resilience,” she also said.
On the part of the US, American Secretary of Agriculture Tom Vilsack lauded the initiative and described it as a demonstration of the shared commitment of the developed world, to play a tangible role in ensuring food security.
“As we convene at COP28, I am pleased to announce our new investments and partnerships under the AIM for Climate initiative. Together, with the UAE and our global partners, we are dedicated to meeting our climate goals, enhancing food security, and building a sustainable future for our planet.”
“This partnership embodies our shared commitment to accelerating investments in transformative food systems and climate-smart agricultural innovations and we look forward to working with everyone on the road to COP30. Our joint efforts are not just about climate-smart agricultural advancements but about nurturing ambition, catalysing action, and fostering hope towards a more sustainable, resilient, and prosperous world for all.”
AIM for Climate was launched by US President Joe Biden back in 2021 at COP26. It is also in line with the push of the People’s Progressive Party/Civic (PPP/C) Government, led by President Dr Irfaan Ali, to champion food security in the Region and around the world. (G-8)