Group to Create $20 billion value chain for sustainable farming
Summary
Food systems account for more than 30% of global emissions and are critical in achieving the Paris Agreement and limiting global warming to below 1.5C.
The World Economic Forum, with support from the Government of the United Arab Emirates, along with more than 20 corporate and research partners in the food sector, on 1 December 2023, launched the First Movers Coalition for Food. The initiative aims to use the combined procurement power for sustainably produced farming products to speed up the adoption of sustainable farming, innovations, and transitional funding.
Food systems account for more than 30% of global emissions and are critical in achieving the Paris Agreement and limiting global warming to below 1.5C. Aggregating demand for sustainably produced and low-emission agricultural commodities, therefore, can accelerate the transition to net-zero, nature-positive transitions in food systems.
Through the power of aggregated demand, the group aims for a combined procurement value for low-carbon commodities of $10-$20 billion from coalition members. Corporate partners currently participating in the coalition account for a combined revenue of $2.1 trillion, with operations globally.
The new initiative plans to accelerate sustainable farming and production methods and technologies by leveraging collective demand for low-carbon agricultural commodities.
Related
-
AfDB lends support to Burkina Faso agriculture project
The objective of the Bagre Growth Pole Project for Burkina Faso is to contribute to increased economic activity.
-
AfDB plans to empower African Women in Agriculture
Women make up almost 50% of the agricultural labour force in Sub-Saharan Africa. A total of 62% of economically active ...
-
US, Nigeria sign agreement to boost investment in food security
The Feed the Future initiative, coordinated by USAID, will develop the value chains of aquaculture, cowpeas, maize, rice ...
Sustainable Development Section Sponsor
-
Access Bank Plc ...Financing the future
Most Popular
- Global space economy market to surpass $511 billion in 2029
- African Development Bank elects Sidi Ould Tah ninth president
- Uganda Secures $800 million from IsDB to fund development through 2027
- Lower-income countries commit record $250m to immunisation – Gavi
- AWIEF opens nominations for 2025 awards for Africa’s women entrepreneurs
- Rethinking Nigeria's development for people-centred outcomes
