Food, agriculture, and water were the focus of a thematic day and several side events on 19 November during the 2024 UN Climate Change Conference (UNFCCC COP 29).

The Baku Harmoniya Climate Initiative for Farmers was launched during an opening event for Food, Agriculture, and Water Day. The Initiative represents a contribution by the COP 29 Presidency, in collaboration with the Food and Agriculture Organization of the UN (FAO), that focuses on the interconnectedness of agriculture, food systems, water resources, and climate action. This nexus was also emphasized by the last two COP Presidencies, through COP 27’s Food and Agriculture for Sustainable Transformation (FAST) Partnership and COP 28’s UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action.

The Baku Harmoniya Climate Initiative for Farmers seeks to build on these efforts to accelerate the transformation of agriculture and food systems. It aims to unify diverse initiatives into a shared vision with three goals: fostering collaboration among initiatives through a knowledge-sharing platform; making agrifood investment more attractive to multilateral development banks (MDBs) and agricultural public development banks; and empowering farmers – especially women and youth – with tools to build climate-resilient communities. According to FAO’s ‘Climate-related development finance to agrifood systems 2024 update,’ an increase in climate financing for agrifood systems is needed, as its share has declined from 37% to 27% over the last two decades.

A co-lead for the COP 29 Action Agenda reiterated agriculture’s dual role as a significant greenhouse gas (GHG) emitter and a vulnerable sector facing escalating climate impacts like droughts and shortages, as well as its transformative potential for climate action and long-term sustainability. The event was organized by FAO and the COP 29 Presidency.

Leaders from past, present, and future COPs came together for a high-level event aimed at building momentum to transform agrifood systems and deliver on the Paris Agreement goals. Since COP 26, COP Presidencies, including the COP 29 Presidency, have been integrating agrifood systems into climate agendas, building in unique contributions that constitute a cohesive, coherent global climate strategy. By focusing on how to achieve effective synergies, coherent strategies, and lessons learned from agrifood initiatives, this event sought to encourage and support accelerated national and regional actions that are critical for meeting the goals of the Paris Agreement on climate change.

One speaker stressed the key role of family farmers in ensuring food security, despite the fact that they are the most affected by climate change and receive insufficient funding to adapt. He urged giving family farmers a voice in the climate negotiations and access to long-term funding. Speakers representing former and current COP Presidencies then led a panel discussion on lessons learned from food and agricultural initiatives and potential synergies. The event was organized by FAO.

Another event focused on  accelerating climate action through regional cooperation in water, energy, food and ecosystems and how such cooperation can help countries wisely manage water, energy, food, and ecosystem interlinkages. During the event, two documents were highlighted – the UN-Water Analytical Brief on Water for Climate Mitigation and the Action-oriented Document on Mainstreaming Transboundary Water Management and Cooperation into NDCs and NAPs – which provide crucial insights into mitigation and adaptation actions. The first panel focused on perspectives of regional cooperation, while the second panel addressed lessons learned from cross-sectoral cooperation. The COP 29 Peace and Climate Initiative was also highlighted. The event was organized by the COP 29 Presidency, the UN Economic Commission for Europe (UNECE), the World Meteorological Organization (WMO), and the UN Environment Programme (UNEP).

A ministerial meeting for the Food and Agriculture for Sustainable Transformation (FAST) Partnership showcased the milestones and achievements of the FAST Partnership in ensuring a sustainable and resilient food and agriculture sector. The multi-stakeholder Partnership, launched at COP 27, aims to accelerate the transformation of agrifood systems globally, provide space for partners to drive effective actions through collaboration and initiatives, and support countries in building the resilience and sustainability of their agrifood systems.

Speakers also referred to the Baku Harmoniya Climate Initiative for Farmers as an inclusive platform that enables collaboration on agricultural initiatives and makes climate finance more accessible to farmers, noting that through the FAST Partnership and the Harmoniya Initiative, a sustainable and resilient agricultural sector can be created. A youth representative stated that, in order to make agriculture sustainable, priority should be given to youth-driven projects, development of youth-led solutions, upskilling youth, and youth involvement in policymaking. The role of universities in shaping agrifood systems through education, research, and community engagement was also highlighted, as was the role of the private sector. The event was organized by FAO.

During a side event, participants discussed ways to expand and structure climate finance to empower family farmers’ organizations in the context of climate adaptation and resilience. They acknowledged that family farmers producing over 80% of the world’s food based on value face disproportionate climate risks; yet, they only receive 0.3% of the world’s public international climate finance. Without adequate financial support, they noted, their ability to produce food sustainably is at risk.

Speakers outlined the critical role of family farmers in food security and emphasized the pressing need to unlock finance to reach those most in need. During the first panel, participants discussed initiatives they are implementing to address climate challenges, as well as their proposal to scale up these experiences through a trust fund facility for the empowerment and resilience of family farmers. In the second session, representatives from governments, international organizations, and public and private financing bodies discussed ways in which stakeholders can contribute to enhancing the accessibility and effectiveness of climate finance for farmers. The event was organized by the COP 29 Presidency, FAO, the World Farmers’ Organization, and the World Rural Forum. 

Another event focused on climate finance for carbon capture and storage (CCS), especially in emerging economies, with participants discussing the financial and technical support needed to scale them up. Researchers and CCS industry experts presented examples of how financing for CCS can bring these technologies online in emerging economies. One speaker noted: the growing number of CCS projects around the world, with 50 in operation and another 600 in various stages of planning; and tax incentives in the US that are encouraging new projects and potentially reducing the cost of CCS projects in other parts of the world.

Answering questions from the audience, panelists noted, inter alia, that: 

• what the new US administration will mean for US support for bilateral agreements on CCS remains unclear, although Republicans have voiced support for continuing domestic tax policies that incentivize CCS;
• financial mechanisms other than expensive direct subsidies, such as carbon credit trading systems, may be needed in developing countries to scale up CCS; and
• progress on Article 6 could help bring down the cost of CCS.  

The event was organized by the University of Texas at Austin, the International Energy Agency (IEA) Greenhouse Gas R&D Programme (IEAGHG), the International CCS Knowledge Centre, and others.