UAE-US climate-friendly farming fund grows to $17 billion

Funding for a UAE-US-led initiative to advance climate-friendly farming practices has grown to more than $17 billion, it was announced at COP28.

'The Agriculture Innovation Mission for Climate' (AIM for Climate) was launched in 2021 at COP26 Glasgow. Its funding comes from governments, companies and non-governmental organisations (NGOs).

Nearly 80 projects have been announced under the scheme since 2021, with goals to expand agricultural research, implement sustainable farming practices, and reduce methane emissions.

Funding for the effort has grown from $13 billion in May, when the US and the UAE co-hosted an AIM for Climate summit in Washington, and from $8 billion at COP27.

The new total includes $12 billion from governments and $5 billion from non-government parties such as companies and humanitarian organisations, said an AIM for Climate spokesperson.

The 27 new projects announced at COP28 range in size from $150,000 to $500 million.

For the first time, agriculture is a major focus at this year's climate summit, with a full day on December 10 dedicated to food and farming topics.