Gates Foundation stakes $ 1.4b to help smallholder farmers hedge climate change

THE Bill and Melinda Gates Foundation ( BMGF) has pledged to invest $ 1.4 billion to help smallholder farmers address the immediate and long- term impacts of climate change even as it echoed African leaders’ calls for countries to rapidly scale- up finance for climate adaptation.

The announcement was made by Gates Foundation CEO, Mark Suzman, at the United Nations Climate Change Conference ( COP27).

Suzman noted that climate change is a food and economic crisis without precedent for many regions, adding that more than two billion people depend on smallholder farms for food and income, yet less than two per cent of global climate finance is devoted to helping these farms adapt to climate change.

He noted that food and economic crises will last longer and become more severe as climate threats escalate and further threaten food security by limiting smallholder farmers’ yields and resilience.

He said: “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. Our commitment will help smallholder farmers adapt today and build resilience for the future. It is essential for this climate summit to produce bold commitments that address immediate and longterm needs. Leaders must listen to the voices of African farmers and governments to understand their priorities and respond with urgency.

"The foundation’s commitment will fund immediate action and long- term initiatives over four years to help smallholder farmers in subSaharan Africa and South Asia build resilience and food security. Funding will focus on spurring African- led innovation to build a pipeline of climate- smart agriculture projects, new applications of digital technologies, climatesmart innovations for smallholder livestock farming, and support for women smallholder farmers to capitalize on their untapped potential.”

For the Co- chair, Bill and Melinda Gates Foundation, Melinda French Gates, Women in rural Africa are the backbone of their food systems, but they have never had equal access to the resources they need to reach their full potential or build resilience to looming climate threats. As the climate crisis accelerates, women’s vital role in their economies is too important to overlook.