The recent COP29 summit in Baku, Azerbaijan, highlighted a critical issue: smallholder farmers, who produce a significant portion of the world’s food, are receiving less than 1% of global climate finance. This disparity leaves them vulnerable to climate change impacts, such as extreme weather events that devastate crops and threaten livelihoods.
Agricultural advocates at COP29 emphasised the necessity of directing more climate funds toward small-scale farmers. They argued that without adequate financial support, these farmers cannot implement adaptive measures like improved irrigation systems, resilient crop varieties, and sustainable farming practises. Such investments are essential for maintaining global food security in the face of a changing climate.
The International Fund for Agricultural Development (IFAD) estimates that smallholder farmers require an additional $75 billion annually to effectively adapt to climate challenges. However, current funding falls short of this target, underscoring the need for increased and better-targeted financial support.
Addressing this funding gap is not only a matter of equity but also a strategic investment in the stability of global food systems. By empowering smallholder farmers with the necessary resources to adapt, we can enhance their resilience and ensure a sustainable food supply for the future.
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