US, UAE Climate-Friendly Farming Fund Reaches USD 13 Bn Milestone

Food systems currently contribute between a quarter and a third of global greenhouse emissions due to deforestation, methane emissions from animals, energy expenditures linked with supply chains, and energy consumed by consumers to store and prepare food.

Meanwhile, climate change is threatening global food security by increasing the frequency of heat waves, droughts, and extreme weather events. The initiative was launched in 2021 to generate more ecologically friendly and climate-resilient agricultural practices globally.

According to US Secretary of Agriculture, Tom Vilsack, climate change is having an impact on long-standing agricultural practices in every country. In response, the AIM for Climate Summit will be held in Washington this week, co-hosted by Vilsack and Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, UAE. The summit has received a total funding of USD 13 billion, with USD 10 billion coming from the government and USD 3 billion from the private sector.

The AIM for Climate initiative is currently developing new, eco-friendly fertilizers that require less fossil fuels in their production, and is also exploring ‘regenerative agriculture’ practices that can restore soil biodiversity and reduce the need for fertilizers while enhancing yield and carbon sequestration.

In addition, the initiative is using artificial intelligence-enhanced tools to gather data from satellites and ground sensors to accurately estimate the carbon content of different plots of land. This could enable farmers to improve the condition of the soil and create a viable carbon offset market.

Other efforts of the group include adopting more efficient farming techniques and exploring crops that use less water in climate-impacted areas. The initiative has also been emphasizing access to innovation for black farmers, indigenous farmers, and low-income farmers.

At the inaugural AIM for Climate Summit, former US Vice President, Al Gore, a climate activist, highlighted the need for inclusive access to the initiative. The summit is set to be addressed by US climate envoy, John Kerry, as well as ministers from the United Kingdom, the European Commission, Australia, Kenya, Mexico, and Panama.