AIM for Climate Hits US$17 Billion in Funding

The Agriculture Innovation Mission for Climate (AIM for Climate), an international initiative for sustainable agriculture, announced it had exceeded US$17 billion in funding during COP28 in Dubai. At the event, AIM for Climate introduced 27 new projects, focusing on sustainable agriculture practices and emissions reduction.

AIM for Climate is a collaborative endeavor between the United States and the United Arab Emirates, dedicated to tackling the challenges of climate change and global hunger. The program seeks to boost investments and provide support for innovative climate-smart agriculture and food system innovation in a five-year period, from 2021 to 2025. The initiative was launched two years ago at COP26 in Glasgow. Its funding comes from governments, companies, and non-governmental organizations.

With the support of over 600 partners, AIM for Climate announced an increased investment of more than US$17 billion on Dec. 8, 2023, during the last week of COP28. This figure comprises US$12 billion from government sources, including Mexico, Brazil, Colombia, Guatemala, Honduras and Uruguay, standing out as Latin American representatives. The remaining US$5 billion was donated by non-governmental associates.

Funding for the initiative has seen significant growth compared to the US$13 billion raised in May this year during the AIM for Climate summit co-hosted by the United States and the United Arab Emirates in Washington. Moreover, the figure more than doubled from the US$8 billion gathered at COP27. “We are witnessing tremendous progress in transforming the global food and agricultural systems at COP28, which has placed the theme at the heart of the presidency’s agenda,” underscored Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, United Arab Emirates. 

During COP28, AIM for Climate unveiled 27 new projects, each valued between US$150,000 and US$500 million. With a combined investment of over US$21 million, the US Agency for International Development (USAID) and other partners in Peru, Mexico, and the Democratic Republic of Congo presented “Building Climate Resilience in Coffee Landscapes,” a collaborative initiative which aims to provide training to farmers on climate-smart agricultural practices and step-up carbon capture activities. 

The so-called Innovation Sprints are self-funded initiatives led by partners with the aim of expanding agricultural research, implementing sustainable farming practices, and reducing methane emissions. AIM for Climate’s Innovation Sprint’s focal areas are divided into four categories: smallholder farmers in low and middle-income countries, emerging technologies, agroecological research and methane reduction. Since 2021, a total of 78 Innovation Sprints have been announced. 

At COP28, dignitaries emphasized the urgent need for innovative approaches in agriculture and food systems to confront the climate crisis. Tom Vilsack, US Secretary of Agriculture, highlighted that AIM for Climate embodies the world's shared commitment to accelerating investments in transformative food systems and climate-smart agricultural innovations. “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,” Vilsack said in a statement.