The Bill and Melinda Gates Foundation (BMGF) has said it is investing $1.4 billion to assist smallholder farmers tackle the immediate and long-term implications of climate change.
The Chief Executive Officer of Gates Foundation, Mark Suzman, made the announcement at the United Nations Climate Change Conference (COP27) while also echoing the demands of African leaders for countries to swiftly scale-up investment for climate adaptation.
Making the announcement, Suzman said that climate change was a food and economic crisis without precedent for many regions, adding that more than two billion people depended on smallholder farms for food and income, yet less than two per cent of global climate finance is devoted to helping these farms adapt to climate change.
He explained that food and economic crises will last longer and become more severe as climate threats escalate and further threaten food security by limiting smallholder farmersโ yields and resilience.
โThe effects of climate change have already been devastating, and every moment the world delays action, more people suffer, and the solutions become more complex and costly,โ he said.
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Speaking further, he said that collective commitment will help smallholder farmers adapt today and build resilience for the future, adding that it is essential for this climate summit to produce bold commitments that address immediate and long-term needs.
He maintained that leaders must listen to the voices of African farmers and governments to understand their priorities and respond with urgency.
โThe foundationโs commitment will fund immediate action and long-term initiatives over four years to help smallholder farmers in sub-Saharan Africa and South Asia build resilience and food security,โ he said.
He noted that the funding will focus on spurring African-led innovation to build a pipeline of climate-smart agriculture projects, new applications of digital technologies, climate-smart innovations for smallholder livestock farming, and support for women smallholder farmers to capitalize on their untapped potential.
Co-chair of the Foundation, Melinda French Gates, said that while women in rural Africa are the backbone of their food systems, they have never had equal access to the resources they need to reach their full potential or build resilience to looming climate threats. She said that as the climate crisis accelerates, womenโs vital role in their economies is too important to overlook.
She however noted that with the right financing and marketing support, women smallholder farmers could earn more in a day than they currently earn in a month, ultimately transforming these regional food systems and unlocking a healthier, more sustainable, and more prosperous future for families and communities across the continent.
The foundation said that it is deepening its ongoing partnership with theโฏInternational Fund for Agricultural Developmentโฏ(IFAD) as part of efforts to improve the livelihoods of rural women in sub-Saharan Africa and South Asia.
Story was adapted from the Guardian.
