AIM for Climate Achieves $29.2 Billion in Funding

By Leah Douglas

(Reuters) – Funding for a climate-friendly farming effort led by the U.S. and United Arab Emirates has reached $29.2 billion, announced on Monday at the COP29 climate summit in Baku.

The Agriculture Innovation Mission for Climate (AIM for Climate) was launched in 2021. Under this program, governments, companies, and NGOs pledge funding for projects aimed at reducing the climate impact of agriculture and enhancing farming resilience against global warming.

According to the United Nations, food systems account for about a third of human-made greenhouse gas emissions. This includes emissions from farming, land use, crop and livestock production, as well as energy consumed in processing and transportation.

U.S. Agriculture Secretary Tom Vilsack emphasized, "We recognize that investment in agricultural research and development has long been a driver of prosperity and resilience, and it has never been more important, as agriculture and food systems face unprecedented challenges."

Planned as a five-year initiative, the AIM for Climate program will conclude in 2025.

Nearly 130 projects have been announced with more than 800 partners, focusing on supporting small farmers, reducing methane emissions, and advancing research and technological innovation in agriculture.

At last year's COP28, AIM for Climate secured $17 billion in funding and $8 billion at COP27.