The agricultural sector has benefited little from climate finance, neither from public nor from private sources. Considering the relevance of the sector for human and economic development of many countries, the allocation of climate finance remains sobering and inadequate.
The compliance and voluntary carbon markets’ contribution to mitigation in agriculture declined to US$48 million in 2012 from US$308 million in 2010. Carbon finance predictably supports larger mitigation projects in areas where methodologies are available and generally accepted. However, little finance has been deployed to support a larger shift towards sustainable intensification, more resilient agricultural practices and the scaling up of climate smart and low-emitting practices.
