The Tribune

THE Bahamas will benefit from the Agriculture Innovation Mission for Climate (AIM for Climate) – a major new initiative led by the United Arab Emirates and United States with the support of over 30 governments.

AIM for Climate was officially launched yesterday and announced an “early harvest” of $4 billion of increased investment to accelerate innovation for climate-smart agriculture and food systems over the next five years.

The initiative, launched as part of the World Leaders’ Summit at the 26th United Nations Climate Change Conference (COP26), aims to increase and accelerate agricultural and food systems innovation in support of climate action. While farmers and ranchers around the world face the impacts of climate change on a daily basis, nearly 25 percent of all greenhouse gas emissions come from agriculture. AIM for Climate is focused on enabling innovation investment in a sector that employs over two billion people and feeds the world’s growing population.

AIM for Climate’s diverse list of supporters include over 30 countries from six continents, including the recent addition of Azerbaijan, Canada, and the United Kingdom, as well as numerous other non-governmental agencies.

According to a press release, The Bahamas is a benefitting country for one of the Innovation Sprint Partners part of AIM for Climate: soil organic carbon sequestration opportunities in soils of Latin America and the Caribbean.

“The objective of this project is to contribute to the design of land use and management with high potential for soil organic carbon (SOC) sequestration in agricultural production systems of Latin America and Caribbean (LAC) and to build capacities in LAC for the quantification and monitoring of SOC stocks. The project is expected to be completed by May 2025 with a total investment of approximately $1.5m,” the press release noted.

John Kerry, US special presidential envoy for climate, said: “The United States is proud to be launching the Agriculture Innovation Mission for Climate initiative alongside the United Arab Emirates and over 80 partners across the globe. Investment in climate-smart agriculture innovation is critical to addressing the climate crisis. Innovation can reduce emissions, feed the world’s growing population, and help farmers and ranchers mitigate and adapt to climate change. AIM for Climate has an impressive start, garnering $4 billion in increased investment in climate-smart agriculture and food systems innovation thus far, but together AIM for Climate partners can and must do more to catalyze even greater investment in the years ahead. I look forward to seeing what AIM for Climate can accomplish and encourage more to join this effort.”

Dr Sultan Ahmed Al Jaber, UAE special envoy for climate change and UAE Minister of Industry and Advanced Technology, said: “AIM for Climate is focusing on a sector that has been previously overlooked in terms of the opportunities it offers for global climate action. This initiative demonstrates the UAE’s holistic and inclusive approach to climate action, which characterizes our offer to host COP28. The United Arab Emirates has already driven change in the energy sector through green innovation and growth, investing over $17 billion in clean energy around the world. AIM for Climate is a smart extension of that investment strategy.”