Summary
Over-reliance on fossil fuels and synthetic fertilizers has depleted soil and other natural resources, creating a dependency on imported goods while putting lives at risk. Climate vulnerable communities are disproportionately affected. With limited opportunities for agricultural finance, farmers are not able to adopt their technology to improve their efficiency, nor are they able to shift towards sustainable and climate-aware agriculture practices.
Financing can support a pivot to regenerative agriculture which can ensure food and economic security. Finance Day at the Food at Agriculture Pavilion thus featured discussions, negotiations, and commitments regarding how to implement global climate actions equitably. The agenda scaled up ambition by enhancing resilience of the most climate vulnerable communities.
Highlights
Through a number of finance-focused side events, the pavilion co-hosts and partners:
- Explored how private, public and philanthropic funding in food systems can align with climate goals, and the role a global agricultural roadmap could play. Learn more.
- Identified actions and kick-started partnerships for increasing and improving blended finance for the adaptation of African food systems, with a focus on access to finance for local actors and informing negotiators. Learn more.
- Discussed opportunities to leverage global markets and innovative finance to enable climate change adaptation in countries most exposed to climate risk and nature dependency, for the design of a GCF proposal for East Africa. Learn more.
- Launched the CGIAR Hub for Sustainable Finance (OneSF), identifying with key stakeholders the way forward towards climate smart and nature-positive financial systems. Innovations on the table included a first-of-its-kind science-based architecture to enable financial institutions and investors to quantify climate and environmental risk and impacts in food systems investments. Learn more.
- In an official-side event outside the pavilion, CGIAR and partners discussed whether science and technologies alone can build climate resilience in Africa and the Middle East, and the missing elements needed, including enabling policies and financial incentives. Watch the recording.
Alongside the events, pavilion co-hosts met with several key partners, including the Bill and Melinda Gates Foundation; the UK Government; and the African Development Bank.
Reel of the day
Videos and photos
Watch recordings and see photos from the events on November 9. You can also visit the COP27 Food and Agriculture Pavilion YouTube playlist to see all recordings from the Pavilion.
Beyond the Pavilion
COP27 news
- Thematic Days kicked off with discussions of pragmatic solutions, deals, commitments, and pledges to reduce the cost of green loans; and adaptation plans to increase the bankability and attractiveness to investors of adaptability projects. Read more.
- Young activists’ voices were amplified at the Children & Youth Pavilion. Read more.
- Better partnerships are needed to secure financing and prioritization for small and medium enterprises (Forbes). Read more.
- Funding agreements support vulnerable countries in adapting to the impacts of global warming (Reuters). Read more.
- Launch of the “Reducing the Cost of Green and Sustainable Borrowing” initiative to reduce poverty in climate-vulnerable countries and promote shared prosperity in a sustainable manner. Read more.
- Emphasis on coherent policy recommendations on agriculture and land across UN bodies, to ensure economic survival amidst climate change (IISD). Read more.
