As 2024 begins, the global community is actively preparing for the upcoming COP29 climate summit, to be held in Baku, Azerbaijan, with a joint initiative driven by countries including the USA, UAE, and Egypt, aimed at promoting climate-friendly agricultural development internationally, capturing significant attention with funding exceeding $17 billion.
This programme, officially termed the Agriculture Innovation Mission for Climate (AIM for Climate), has garnered financial support from governments, corporations, and non-governmental organisations since its launch at COP26 in Glasgow in 2021. Against the urgent need to address the severe greenhouse gas emissions caused by food and agricultural production, this initiative has announced nearly 80 projects aimed at expanding agricultural research, implementing sustainable agricultural practices, and reducing methane emissions.
Among these impactful projects, the General Authority for Investment and Free Zones (GAFI) in Egypt has stood out for its commitment to fostering sustainable development and responsible investment, particularly in the green economy sector. In an exclusive interview with The Icons, GAFI’s country officer, Nadeen Wahdan, discussed Egypt’s role in this global effort, stating:
“The increase in funding and the advancement of projects highlight the international community’s emphasis on sustainable agricultural innovation. Since 2021, the funding for the Agriculture Innovation Mission for Climate has risen from $8 billion to $17 billion, comprising $12 billion from governmental sources and an additional $5 billion from non-governmental entities, such as corporations and humanitarian organisations.”
Wahdan also mentioned that the 27 new projects announced at COP28 range from $500,000 to $150,000, including several large-scale initiatives, such as projects by Bunge and Alphabet’s Google, which are collaborating with the Nature Conservancy and the renowned Para project in Brazil, showcasing achievements in agricultural innovation. “With agriculture becoming a focal point at COP28, global attention to food and agriculture has reached new heights, reflecting the international community’s prioritisation of sustainable agriculture in climate change discussions and opening new avenues for future innovation and practices.”
Wahdan further stated that the Egyptian government’s efforts underscore the country’s leadership in promoting sustainable and responsible investment, setting a positive precedent for the forthcoming COP29 and future climate actions. With ongoing increases in funding and the progression of more projects, Egypt anticipates launching additional innovative initiatives, calling on more countries to join in addressing the challenges of climate change together.