The Bill and Melinda Gates Foundation at the ongoing COP27 in Egypt, has pledged $1.4 billion to help smallholder farmers to tackle the existential impacts of climate change in Sub-Saharan Africa and South Asia.
The foundation’s Chief Executive Officer, Mark Suzman, disclosed this at the global climate talks in Egypt, stating that the 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.
The 27th Conference of the Parties (COP27) is the 27th annual climate conference hosted by the United Nations Framework Convention on Climate Change (UNFCCC), an international environmental treaty adopted and implemented by countries throughout the world in 1994 to address the issue of climate change.
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The first COP was held in 1995, while COP27 is the first time the climate conference is being held in an African nation, and Egyptian President Abdel Fatah al-Sisi says Egypt will use its role as host to advocate for the interests of African countries and other developing nations in the clean energy transition.
Suzman noted that there is a need for countries to rapidly scale up finance for climate adaptation, promising that the foundation will fund immediate action and long-term initiatives over the next four years to help smallholder farmers in the aforementioned regions build resilience and food security.
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According to him, more funding is necessary to ensure agricultural and technological innovations are widely available to vulnerable communities, helping them to adapt to climate change, save lives and increase economic growth,
“It is essential for this climate summit to produce bold commitments that address immediate and long-term needs. Leaders must listen to the voices of African farmers and governments to understand their priorities and respond with urgency.” Suzman said
