Current:Home > ScamsU.S. and UAE-backed initiative announces $9 billion more for agricultural innovation projects -Insightful Finance Hub
U.S. and UAE-backed initiative announces $9 billion more for agricultural innovation projects
View
Date:2025-04-12 03:01:49
DUBAI, United Arab Emirates (AP) — An additional $9 billion of funding to tackle agriculture’s role in the climate crisis was announced on the sidelines of the United Nations climate talks on Friday.
The Agriculture Innovation Mission (AIM) for Climate, a joint initiative led by the United States and the United Arab Emirates that debuted at the climate talks in Glasgow two years ago, now has $17 billion to invest in agriculture and food systems innovation. Food systems — all the processes involved in making, shipping and disposing of food — account for about a third of planet-warming greenhouse gas emissions.
Countries have been convening at the annual Conference of the Parties to discuss and negotiate what to do about climate change that has Earth bumping up against the Paris agreement target of limiting warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) since industrial times. With difficult negotiations still underway on how aggressively countries might agree to cut fossil fuel use, it’s been easier for nations and companies to announce funding for programs not directly related to that issue.
This year’s summit, COP28, is unique in its emphasis on farming. “We would not be able to reach 1.5 degrees if we don’t fix our food and ag sector,” UAE Minister for Climate and the Environment Mariam Almheiri said in a press conference in Dubai on Friday.
The funding announced Friday is enough money and will support enough different approaches to be a good start, said Mario Herrero, a professor of food systems and global change at Cornell University. But he added that the real test will be to see whether more money comes in, and whether the projects are held accountable for doing what they say they will.
“That’s something we will need to monitor very carefully, whether this is largely greenwashing,” Herrero said.
Projects the initiative has funded in the past include building a $500 million agri-processing plant in Nigeria, restoring degraded pastureland in Brazil and backing research to reduce synthetic nitrogen.
The new projects being funded address a wide range of areas. Some, like a $500 million action agenda on “regenerative agriculture,” have no single definition but involve a range of techniques that encourage farmers to switch to practices that lower emissions. Others target food manufacturing and processing or animal feed and fertilizer. The most futuristic range from developing microbes to store carbon in soil to using food-safe industrial waste to produce microalgae that help grow oysters on land.
Many of the projects are targeted at middle- and low-income countries, where farmers often have less technology at their disposal to combat climate change. But while some are targeted at reducing waste, none of the new projects mentioned had an explicit focus on reducing consumption. Wealthier countries eat more of the foods like meat and dairy that make up the vast majority of global food-related emissions.
If the funding helps low- and middle-income countries adapt to climate change while also helping them mitigate emissions, that’s a good thing, Herrero said.
“Now the hard work starts,” Herrero said.
___
Walling reported from Chicago.
___
Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content.
veryGood! (2)
Related
- Louvre will undergo expansion and restoration project, Macron says
- Buffalo Bills playoff clinching scenarios for NFL Week 17: It's simple. Win and get in.
- Georgia museum hosts awkward family photos exhibit as JCPennys Portraits trend takes off
- Migrant caravan slogs on through southern Mexico with no expectations from a US-Mexico meeting
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Zombie deer disease is a 'slow moving disaster'. Why scientists say humans should 'be prepared'.
- Argentina’s new president lays off 5,000 government employees hired in 2023, before he took office
- Chiefs coach Andy Reid defuses Travis Kelce outburst, chalks it up to competitive spirit
- Buckingham Palace staff under investigation for 'bar brawl'
- The year in review: 50 wonderful things from 2023
Ranking
- In ‘Nickel Boys,’ striving for a new way to see
- Not everyone's holiday is about family. Christmas traditions remind me what I've been missing.
- Almcoin Trading Center: The Difference Between Proof of Work and Proof of Stake
- Argentina’s new president lays off 5,000 government employees hired in 2023, before he took office
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Drone fired from Iran strikes tanker off India's coast, Pentagon says
- Photographer Cecil Williams’ vision gives South Carolina its only civil rights museum
- Drone fired from Iran strikes tanker off India's coast, Pentagon says
Recommendation
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
Almcoin Trading Center: Token Crowdfunding Model
Almcoin Trading Center: Trends in Bitcoin Spot ETFs
Kamar de Los Reyes, 'One Life to Live' soap star and husband to Sherri Saum, dead at 56
Tree trimmer dead after getting caught in wood chipper at Florida town hall
Taylor Swift, 'Barbie' and Beyoncé: The pop culture moments that best defined 2023
A Greek air force training jet crashes outside a southern base and search is underway for the pilot
Manchester United says British billionaire buys minority stake