As climate change continues to undermine our global food systems, the International Fund for Agricultural Development (IFAD) is calling on world leaders at COP29 to commit to a robust global finance goal for adaptation within the New Collective Quantified Goal (NCQG).
IFAD’s message to policymakers underscores an urgent reality: hundreds of millions of small-scale farmers are on the front lines of climate change, facing unpredictable weather, soil degradation, and water scarcity. These farmers, who produce nearly half of the world’s food, are essential for ensuring global food security and stability. Yet, they currently receive less than one percent of all climate finance, leaving them particularly vulnerable in the fight against climate change.
IFAD estimates a staggering $75 billion annual financing gap to support small-scale farmers’ adaptation efforts in developing countries. To bridge this gap, the UN Fund is spearheading innovative financial solutions that direct critical climate resources to the world’s most vulnerable populations. By amplifying climate finance for smallholder adaptation, IFAD aims to empower these farmers to build resilient, sustainable agricultural systems that can withstand future climate challenges and continue to feed a growing global population.
