Biotech Updates

Initiative to Uplift Agrifood Systems Launched in COP27

November 16, 2022

Financial support is vital in helping food systems adapt to climate change. This message is the highlight of the Food and Agriculture for Sustainable Transformation Initiative (FAST) launch at the 27th United Nations Climate Change Conference (COP27) in Sharm-El Sheikh, Egypt.

FAST is an initiative by the Egyptian Presidency in partnership with the Food and Agriculture Organization of the United Nations and other stakeholders. The need for the initiative is rooted in the risk of hunger and malnutrition among the most vulnerable groups and the global agrifood systems are affected by climate variability and extreme weather conditions. However, there are insufficient financial contributions for efforts to transform the agrifood systems into more sustainable, resilient and productive.

During the FAST launch, FAO Deputy Director-General Maria Helena Semedo pointed out that while overall climate finance flows have increased over the past decade, the share allocated to agriculture has steadily decreased.

“That is why bold transformative actions are now needed to boost investment in agrifood transformation, support countries in accessing climate finance, and ensure that appropriate financial resources reach small and medium-scale food producers,” Semedo said.

Read more from FAO.

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