A fund set up by the US and UAE to promote climate-friendly innovation in agriculture and the food sector has more than doubled to $17 billion.
More than 600 government and non-government partners have now pledged their support for the Agriculture Innovation Mission (AIM), which was launched by the two countries in 2021, it was announced at Cop28.
The cash injection is about double the total of $8 billion that was pledged when Cop27 took place in Egypt last year.
"We are witnessing tremendous progress in transforming the global food and agricultural systems at Cop28, which has placed the theme at the heart of the presidency agenda," Mariam Al Mheiri, Minister of Climate Change and Environment, said.
We are witnessing tremendous progress in transforming the global food and agricultural systems at Cop28
Mariam Al Mheiri,
Minister of Climate Change and Environment
She added that "the world has rallied together" to implement the Cop28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems and Climate Action, with 134 nations plus non-state partners in support.
"The significant traction gained by AIM for Climate is another step in promoting climate-smart agriculture, driven by innovation and advanced technology, which is critical to strengthening productivity and building sectoral resilience," Ms Al Mheiri said.
Of the $17 billion invested, a total of $12 billion comes from governments, among them those of Bahrain, Bangladesh, Canada, Germany, Honduras, Israel, Mexico, Morocco, the Netherlands, Philippines, Singapore, US, UAE, UK and Vietnam.
A further $5 billion comes from what are termed innovation sprints, which are initiatives led and self-funded by partners "to achieve expedited results in agricultural and food systems innovation".
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There are now 78 of these, more than twice as many as were announced at Cop27, and they align with priorities such as emerging technologies, agroecological research and methane reduction.
The total number of partners supporting AIM for Climate is now more than 600, including businesses, academic institutions, not-for-profits and think tanks, as well as governments.
Ms Al Mheiri said in the UAE "there are a lot of things we have to change with behaviour and habits" around food, particularly in terms of waste.
"We’re throwing too much food into the bin," she said. "It’s really important every bit of edible food does not end up in landfill."
She said efforts to reduce food waste in the UAE included "a lot of interactions with schools", adding that she herself had to "start reflecting on what I’m doing as a person" with respect to food.
Consumers were being "nudged" to be more climate-smart in terms of their eating habits, she said, such as by being shown photos with examples of smaller portion sizes.
"There’s a lot we have to do with consumer behaviour," she added. "This will have to be ongoing. It’s not a six-month plan. This is a vision of changing habits."
Tom Vilsack, the US Secretary of Agriculture, announcing the increase in funding alongside Ms Al Mheiri, said that the US, UAE and global partners, were "dedicated to meeting our climate goals, enhancing food security and building a sustainable future".
"This partnership embodies our shared commitment to accelerating investments in transformative food systems and climate-smart agricultural innovations and we look forward to working with everyone on the road to Cop30," he added.
"Our joint efforts are not just about climate-smart agricultural advancements but about nurturing ambition, catalysing action, and fostering hope towards a more sustainable, resilient, and prosperous world for all.”
Mr Vilsack said agriculture has an opportunity to reach net zero "quicker than some of the other industries".
"The ability to have access to soil, land as a strategy to sequester carbon. The ability to have partners with major agriculture companies, major universities, allows the farmers to embrace climate-smart practices," he said at a press conference.
He said a challenge was asking farmers to embrace technology that had a cost to them, but said this could be overcome by showing that retailers could charge more for food produced in a way that has reduced impact on the environment.
AIM for Climate was launched at Cop26 in Glasgow in 2021 with an initial announcement of $4 billion of funding.
Decarbonising agriculture is seen as crucial to the world meeting its climate goals, because the agro-food system is responsible for as much as 34 per cent of greenhouse gas emissions when changes in land use – such as the replacement of forests by agricultural land – are taken into account.
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Did you know?
Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.
Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
Global state-owned investor ranking by size
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Company%20profile
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Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
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Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
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The specs
Engine: 2.2-litre, turbodiesel
Transmission: 6-speed auto
Power: 160hp
Torque: 385Nm
Price: Dh116,900
On sale: now
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Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
