FAO warns global agri-food systems need $1 trillion annually for climate transformation

Global agri-food systems will need more than $1 trillion in annual investments to meet climate goals and ensure sustainable transformation.

Martial Bernoux UN Food and Agriculture Organization (FAO) Natural Resources Officer, shared this forecast during a session titled "Financing Agri-food System Transformation," Caliber.Az reports.

Bernoux outlined that, under average scenarios, global agri-food systems will require approximately $1.1 trillion annually from 2024 to 2030 to address climate change and other challenges facing the sector.

"Much of the required climate investment will be directed towards areas such as policy development, national budget support, capacity building, and the agriculture sub-sector," Bernoux explained.

He further broke down the investment needs, specifying that $467.5 billion will be needed for policy support and capacity development, $317 billion for the agriculture sector, $100 billion for biodiversity and ecosystem restoration (both terrestrial and marine), $117 billion for forestry, and $53 billion for the food sector.

By Vafa Guliyeva