At COP29, climate smart agriculture and food systems saw a significant increase in investments, nearly doubling from last year’s event. The Agriculture Innovation Missions for Climate (AIM for Climate), a partnership between the United States and the United Arab Emirates, announced that investments in climate-smart agriculture for 2024 surged to $29.2 billion, up from $17 billion in the previous year. This investment represents a concerted effort from more than 800 government and non-government partners over the past three years.
The agriculture sector has become a central focus in the global response to climate change, with an increasing recognition of its role in mitigating the effects of a warming planet. At COP29, stakeholders emphasized the importance of integrating climate resilience into agricultural practices to ensure food security while reducing emissions. The initiative has gathered momentum, particularly following the launch of the Agriculture Innovation Missions for Climate (AIM for Climate) at COP26. AIM has successfully mobilized tens of billions of dollars from governments, businesses, and organizations worldwide to advance climate-smart agricultural technologies and practices.
The total investment for 2024 includes $16.7 billion from 56 countries and $12.5 billion from private companies and non-government partners. A significant portion of this increase came from the introduction of new funding initiatives such as the Bezos Earth Fund, which has further catalyzed investment in climate-related agricultural innovations. These funds are directed towards a wide range of projects aimed at improving food systems’ resilience to climate change, including sustainable agriculture, alternative protein production, and the adoption of cleaner technologies in farming.
The addition of 52 new “Innovation Sprints” in 2024 brought the total number of such initiatives to 129. These sprints are commitments from nonprofit and private sector partners to boost investments in sustainable agriculture and food systems. From advancing agricultural practices among smallholder farmers to increasing the production of alternative proteins, these projects are designed to address both the challenges of climate change and the global hunger crisis.
The U.S. has been a major player in these efforts, with investments totaling over $4.3 billion in AIM for Climate, including nearly $4 billion from the U.S. Department of Agriculture (USDA) during the Biden administration. This funding supports a range of initiatives aimed at improving agricultural practices to enhance sustainability and resilience. For instance, the USDA is contributing $80 million to a project led by Atlas Agro North America Corporation, which aims to increase the availability of nitrogen fertilizers without exacerbating agriculture’s carbon footprint. This initiative is just one example of the numerous projects being funded to support the transition to more sustainable farming practices.
USDA Secretary Tom Vilsack highlighted the urgent need for such investments, noting that farmers, ranchers, and foresters around the world are increasingly vulnerable to the devastating impacts of climate change. Vilsack stressed that providing farmers with the tools and resources needed to adapt to changing climatic conditions is essential for building resilience in agricultural systems. He emphasized that this approach not only supports food security but also enables producers to maintain livelihoods in the face of natural disasters and unpredictable weather patterns.
As the global community continues to grapple with the challenges posed by climate change, the growing emphasis on climate-smart agriculture represents a pivotal shift in how governments, businesses, and organizations are addressing the intersection of agriculture, sustainability, and food security. The commitments made at COP29 demonstrate a collective determination to prioritize agricultural innovation as a key component of the global response to climate change, ensuring that farmers and food systems can adapt to the changing climate while contributing to the fight against global warming.
