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Smallholder farmers nourish the world. It’s the more than 500 million small, committed farmers around the globe that keep their communities fed, often in ways that are naturally regenerative and sustainable—not because it’s trendy, but because they recognize their relationship and responsibility to their land.
“We don’t just see Earth as a resource; she is our family, and we treat her that way,” says Wara Iris, a young Indigenous leader from Bolivia’s Aymara community. “Unfortunately, with monocultures and industrialization, traditional knowledge like ours is often hidden or forgotten. It’s crucial to bring it back now.”
The official theme of discussions here in Baku yesterday was Finance, Investment and Trade, and for me, one thing is clear that I hope policymakers at the negotiating tables here are listening to: Meaningful financial investments in smallholder and family farmers are the only way to build a future that nourishes people and the planet.
When it comes to the types of financing and financial instruments discussed at COP29, these smallholder farmers are, in many cases, being left out. As panelists discussed yesterday at the Action on Food Hub Pavilion, smallholders only receive about 0.3 percent of climate funding—less than a third of a single cent per dollar!
And as a new economic report pointed out this week, the climate funding gap is bigger than we thought. Poorer nations will end up needing US$1 trillion a year in financing by 2030—five years sooner than a funding ramp-up plan that’s currently on the negotiating table. As one economist pointed out to The Guardian, this sum is absolutely achievable with a serious level of commitment, but the costs will only become more expensive the longer we wait.
So how do we bridge the funding gap for smallholders?
Microfinance and small grants are an important first step, panelists discussed during an event yesterday at the Food and Ag Pavilion. Short-term cash aid can be really helpful in building sustainable livelihoods in agriculture among rural farmers, refugees, and potentially vulnerable communities—but we need to pair it with financial education and policy support, too.
And, as always, we need to see greater coordination and cross-silo work. The Inter-American Institute for Cooperation on Agriculture (IICA) officially launched the Hemispheric Fund for Resilience and Sustainable Agriculture, which is set to bring together funding from multiple nations to support high-impact projects that recognize the ways the climate crisis and our health crises are parallel to one another.
“We cannot achieve nutrition targets without a consideration of climate, and we cannot achieve climate targets without transforming food systems for healthier diets. We need to work in a way that mutually reinforces progress towards both targets,” Afshan Khan, Assistant Secretary-General of the United Nations and Coordinator of the Scaling Up Nutrition (SUN) Movement, said during an event at the COP29 Health Pavilion.
And we were expecting to see conference leaders unveil a flagship new climate fund that would direct at least US$1 billion to mostly developing countries, from contributions by fossil-fuel-rich companies and countries. That plan seems to have disappeared. There was some controversy about this plan from several angles: Some donor countries were allegedly concerned they’d get roped into giving “too much” money, while some climate advocates thought it wasn’t robust enough and just constituted greenwashing. But it’s unclear if the fund is being cancelled entirely or replaced with a different approach—which I’m hopeful for, because doing nothing is not an option.
Combating climate change has to be a collective effort—a project every country participates in and takes responsibility for—and it would be concerning to see global agreements fracture. We can’t let ourselves forget how big an accomplishment it’s been to even be able to build such massive international treaties around climate, and we can’t afford to go backwards.
“For decades, wealthy nations pledged $100 billion annually to support vulnerable countries. Yet these promises have largely gone unfulfilled,” Prime Minister Gaston Browne of Antigua and Barbuda told the New York Times yesterday.
It’s time to do more!
We have to get serious about closing the funding gap for smallholder farmers and vulnerable rural and family growers. It’s not an exaggeration to say that we can’t solve the climate crisis without them.
Add These to Your Calendar:
9:00AM–10:00AM @ the IICA Pavilion: “Agriculture for Peace” daily morning coffee series, with food/agriculture ministers and experts. Speakers include: Margaret Zeigler, IICA; Dr. Rattan Lal, The Ohio State University.
10:30AM–12:00PM @ the IICA Pavilion: “Innovation and Policies for Carbon Farming: Towards a Sustainable and Resilient Future.” Register HERE. Speakers include: Lloyd Day, IICA; Dr. Rattan Lal, The Ohio State University; Jose Mai, Belize Minister of Agriculture; Ignacio Lorenzo, Asesoramiento Técnico en Biodiversidad y Clima (CAF), Development Bank of Latin America and the Caribbean; Grazielle Parenti, Syngenta; Elizabeth Yee, The Rockefeller Foundation; Robin Woodward, Carbon Asset Solutions; Wietse Vroom, Inspiratus Technologies; Dan Christenson, PepsiCo; Gene Stoel, U.S. Farmer; Sieglinde Snapp, CIMMYT; and Dr. Muhammad Ibrahim, IICA.
12:00PM–1:00PM @ The Future Economy Forum’s Action on Food Pavilion: “From Carbon Credits to Compensation for Ecosystem Services, Africa and Egypt Leading the Way,” a daily roundtable luncheon discussion. Register HERE. Speakers include: Daphne Ewing-Chow, Forbes; Umar Manzoor Shah, IPS News; Helmy Abouleish, SEKEM; Rosinah Mbenya, PELUM; Richard Zaltzman, EIT Food; Carina Rolly, ADRA; Walter Link, Future Economy Forum and NOW Partners; and Merijn Dols, NOW Partners.
3:00PM–4:30PM @ UNFCCC Side Event Room 2, Blue Zone: “Agri-Food Finance & Enabling Policies to Drive Climate Action.” Speakers include: Willem Branten, TAPP Coalition; Trinto Mugangu, African Climate Action Initiative; Patricia Fuller, International Institute for Sustainable Development; Mike Terungwa, Citizens’ Climate International; Zitouni Ould-Dada, FAIRR Initiative; and Myra Jackson, Earth Law Center.
3:30PM–5:00PM @ Future Economy Forum’s Action on Food Pavilion: A daily dialogue series with pavilion and community leaders. Speakers include: Helmy Abouleish, SEKEM; Yasmine Fouad, Egypt Minister of Environment; Mohamed Fared, Financial Regulatory Authority (FRA); Daniël Povel, NOW Partners; Mahmoud Mohieldin, U.N. Special Envoy on Financing the 2030 Agenda; Catiana Garcia-Kilroy, World Bank; Walter Link, Future Economy Forum and NOW Partners; and Merijn Dols, NOW Partners.
5:00PM–6:00PM @ The Sustainable Agriculture of the Americas Pavilion facilitated by IICA: Happy hour collaborative celebration with COP climate negotiators and experts. Register HERE. Speakers include: Margaret Zeigler, IICA; Krysta Harden, U.S. Dairy Export Council.
6:00PM–9:00PM @ Shakh Garden: Invitation-only dinner and dialogue series, “Scaling Regenerative Agriculture Innovations.” Find details HERE.
News Stories/Reports I’m Reading Today:
- Raising Ambition and Accelerating Delivery of Climate Finance — This is the third annual policy report from the Independent High-Level Expert Group on Climate Finance.
- Poorer nations need $1tn a year by 2030 in climate finance, top economists find — The Guardian reports on the latest economic understanding of the gap in climate funding among vulnerable nations.
- Food aid interventions can curb climate change-induced hardship. But should they do more — Associated Press/independent reporters analyze the potential for linking climate action with food relief programs.
- The Case for Action on Tropospheric Ozone — A policy brief from The Clean Air Fund urges for action to address the greenhouse gas and “super pollutant” tropospheric ozone.
- No Escape — A sobering report from UNHCR, the United Nations’ refugee agency, highlights the people who are displaced due to climate change and left with nowhere to turn.
Powerful Quotes From Recent Discussions:
- “Nature, climate all have a lot of initiatives that need to be achieved but there has to be money behind it. You can’t achieve anything if you don’t have financing.” — Jacinda Njike, Finance Lead, Ambition Loop (via @wode_maya on X)
- “First, accelerate climate action and financing in fragile and conflict-affected places. Second, scale up solutions to reduce and address climate-related loss and damage. And third, invest in the transformation of food systems. Let’s amplify and empower these efforts.” — Cindy McCain, Executive Director, World Food Programme (via @WFP on X)
Ways To Take Action—Interact On Social Media:
- Global Alliance for the Future of Food: “Food systems contribute 33% of global emissions but receive only 3% of climate finance 💰Closing the funding gap is key to tackling the climate crisis❗It’s time to unlock the potential of food systems this #COP29”
- One Acre Fund: “Only 0.3% of climate finance reaches smallholders according to @WorldRuralForum—yet they produce 1/3 of the world’s food. Investing in smallholders fuels a global ripple effect: greater food security, healthier soils, and resilient farms—it’s #ClimateFinance’s best deal.”
- World Food Programme: “By 2030, over 3 billion people will live in high climate vulnerability areas. We cannot end hunger without addressing climate change. Read how building resilience against climate disasters is key to feeding a sustainable future.🌱🌍💚 #COP29”
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Photo courtesy of Etienne Girardet, Unsplash
