Baku climate talks: India part of US-UAE co-led $29.2bn fund for climate-smart agriculture

Baku, Nov 18 The Agriculture Innovation Mission for Climate (AIM for Climate), the largest global coalition at the intersection of food security and climate change, spearheaded by the UAE and the US, on Monday announced nearly double the investments, partners, and Innovation Sprints in transformative climate-smart agriculture and food systems’ innovation.

The announcements were made at the 29th United Nations Climate Change Conference (COP 29), hosted in Baku in Azerbaijan under the theme ‘In Solidarity for a Green World.’

The investment increase comprises $16.7 billion from 56 government partners, including India, and $12.5 billion from the accelerated investments of 129 Innovation Sprint Partners, driving change in climate-smart agriculture and food systems.

AIM for Climate partners turn ambition into action, driving climate-smart agriculture and food systems innovation to tackle the climate crisis, build resilience, and deliver co-benefits for people and the planet.

Building on a record year at COP28, investments have surged from $17 billion to an unprecedented $29.2 billion, over a 2020 baseline.

The addition of 52 new Innovation Sprints, bringing the total to 129, further underscores AIM for Climate’s transformative impact.

With AIM for Climate expanding from 600 to over 800 partners worldwide, the initiative reflects the urgency and strength of its mission.

The growing number of high-impact, private-sector, and public-private partnership-led projects deliver solutions to today’s climate and food challenges.

Aligned with COP 29’s priorities of climate finance, emission reduction, and developing adaptive solutions for climate-related loss and damage, these initiatives focus on one or more of AIM for Climate’s focal areas: smallholder farmers in low and middle-income countries; emerging technologies; agroecological research; and methane reduction.

AIM for Climate’s India impact is substantial, with $500 million alone being directed toward climate-smart agriculture and food systems innovation in India.

These investments demonstrate AIM for Climate’s commitment to supporting climate resilience and food security in India and beyond.

AIM for Climate Innovation Sprint Partners in India Varaha’s initiative aims to deliver $500 million in benefits to smallholder farmers in developing countries by 2025.

By integrating farmers into the global carbon market, Varaha supports sustainable agriculture, improves livelihoods, and plans to remove 18 million tonnes of CO2 across four million acres.

Using remote sensing, Machine Learning, and biogeochemical models, Varaha promotes regenerative agriculture, agroforestry, and nature-based solutions, advancing climate resilience and carbon sequestration in India.

Phyla sprint scales ecosystem restoration through climate-resilient agroforestry, with a focus on establishing pongamia and biodiverse agroforestry systems across Sub-Saharan Africa and India. The initiative will regenerate degraded lands while producing feedstock for biofuel, plant-based proteins, and sustainable food and fiber crops.

Through strategic collaborations, Phyla aims to catalyse $400 million in new investments, fostering a regenerative finance model that unites food security with energy sustainability.

As AIM for Climate prepares to sunset in 2025, its partners are urged to build on achievements by institutionalising progress for a resilient, food-secure future.

(Vishal Gulati can be contacted at vishal.g@ians.in)

Source: IANS