27 new AIM for Climate Innovation Sprints were announced at COP28

15-12-2023 | Smart farming | News

At COP28, 27 new AIM for Climate Innovation Sprints were announced, bringing the total to 78 sprints since the initiative’s launch at COP26. These sprints signify a remarkable commitment to addressing climate change in agriculture and food systems, with over $ 5 billion in increased investment from both private sector entities and public-private partnerships.

An Innovation Sprint, in this context, represents a significant boost in self-financed investment aimed at achieving specific outcomes in agricultural innovation and climate-smart agriculture within an accelerated timeframe. These sprints cover a range of critical areas, including Methane Reduction, Emerging Technology, Smallholder Farmers in Low- and Middle-Income Countries, and Agroecological Research, reflecting a holistic approach to combating the challenges posed by climate change in the agricultural sector.

Some examples

Microbes for enhancing volume and stability of soil carbon

By harnessing the power of microbes, Loam Bio unlocks the opportunity for gigatonne scale carbon removal from the atmosphere, while increasing soil health and productivity in agriculture. $ 105 million has been committed to catalyze the market for high quality, robust carbon removal and sequestration in broadacre cropping soils. By 2025, this will be deployed into upscaled manufacturing capacity, continued product development and R&D to launch products for new crop types and microbes, as well as farmer education and extension activities to drive adoption of the technology across the globe.

Participants: Loam Bio, Acre Venture Partners

Expanding Climate Smart Toolkit with Innovative RNA Crop Protection

GreenLight Biosciences is developing and commercializing climate smart biopesticides that are effective, easy to use, and environmentally friendly. GreenLight has invested $ 100 million to launch its first series of products by 2028, including a solution to the number one threat to bees, and is advancing exploration into additional segments such as weed control. These efforts promise to protect farmers’ yield on over 6 million hectares and improve bee survival up to 70% while respecting biodiversity.

Participants: GreenLight Biosciences

COP28 Action Agenda on Regenerative Landscapes

The COP28 Action Agenda on Regenerative Landscapes is co-chaired by COP28, the World Business Council for Sustainable Development (WBCSD), and Boston Consulting Group and supported by the UN High-Level Climate Champions. With a $ 500 million investment, the partnership aggregates, accelerates, and amplifies existing efforts and new commitments from top food and agriculture players to transition large agricultural landscapes to regenerative agriculture by 2030. This initiative aims to translate commitments into tangible action and projects, benefiting people, climate, and nature.

Participants: WBCSD, Rabobank, Indigo Ag, Bunge, OCP Group, Danone, ofi, PepsiCo, Sysco, The Nature Conservancy, Unilever, UPL, Google, Syngenta Group, Cargill, State of Para (Brazil)