Labworx

Now in its third year, the Agricultural Innovation Mission for Climate (or AIM for Climate) has garnered a whopping $13 billion in investment capital to date. The fund was originally set up at COP26 in Glasgow two years ago in a joint venture by the governments of the UAE and the USA, alongside support from 31 other nations and almost 50 non-governmental organisations (NGOs).

The fund is intended to help meet the two biggest challenges of our time: ensure that the agricultural industry is capable of producing enough food to sustain the ballooning global population; and help farmers across the globe adapt to the evolving demands of their industry due to the impact of climate change.

Growing investments

At the announcement of the initiative in 2021, it had originally gained a flagship $1 billion investment from the US government, alongside a further $3 billion from various NGOs and other interested parties. By the following year, that figure had swelled to $8 billion, while the latest statistics compiled by AIM for Climate executives reveal that the fund now has $13 billion in its coffers.

As well as funnelling that money towards the most deserving projects and programmes in agricultural innovation today, AIM for Climate is also aiming to provide the necessary framework, infrastructure and support to enable international exchange of ideas and expertise. This will not only share invaluable knowledge, but also facilitate collaboration in achieving the intended outcomes.

Threefold objectives

It is widely predicted that the global population will reach almost 10 billion by 2050, meaning that food production will need to increase in tandem with the number of mouths to feed. However, the ever-increasing threat of global warming and climate change are disrupting meteorological patterns and undermining established methods of farming.

As such, AIM for Climate hopes to provide the necessary investment to ensure that farmers and other agricultural players can maintain and even boost crop yields through new and innovative means of operation. This will not only enhance productivity, but also futureproof the industry against further developments and simultaneously bring down emissions associated with the sector, which currently account for around 10% of all greenhouse gas emissions.

The UAE leading by example

The Emirati authorities were one of the driving forces behind the launch of AIM for Climate two years ago. Now, the country is hosting COP28 in Expo City in Dubai, making it the ideal place to renew efforts to raise capital for this most important of causes. ““We will make sure that COP28 will be a game-changer for food systems,” explained the UAE Minister for Climate Change and the Environment, Mariam Almheiri, back in May.

As well as headline contributions from the UAE, the USA and other governments around the globe including Australia, the UK and Mexico, AIM for Climate also hopes to bolster its capital via donations from the private sector. Dubbed “Innovation Sprints”, these vehicles generate funds from NGOs and private enterprises to target four key areas: Agroecological Research, Emerging Technologies, Methane Reduction and Smallholder Farmers in Low- and Middle-Income Countries (LMICs). DOWNLOAD PDF