Market Data 
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, the countries announced on Monday at the COP29 climate summit in Baku.
The Agriculture Innovation Mission for Climate (AIM for Climate) was launched in 2021. Under the program, governments, companies, and non-government organizations pledge funding for projects to reduce the climate impact of agriculture and to make farming more resilient to the impacts of global warming.
Food systems account for about a third of human-made greenhouse gas emissions, according to the United Nations. That includes emissions related to farming and land use, producing crops and livestock, and energy used in processing and transportation.
“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 around the world face a range of unprecedented challenges,” said U.S. Agriculture Secretary Tom Vilsack.
Planned as a five-year initiative, the AIM for Climate program will end in 2025.
Nearly 130 projects have been announced with more than 800 partners with the aims of supporting small farmers, reducing methane emissions, and advancing research and technological innovation in farming.
AIM for Climate had secured $17 billion in funding at last year’s COP28, and $8 billion at COP27.
