World Bank advocates $260bn yearly investment to curb global agri-food emissions

By Ojugbele Omotunde

The World Bank has noted what it described as necessity of an annual $260 billion investment to reduce global agri-food emissions by half within six years.

This was stated in a statement released on its website on Tuesday. The World Bank says doing this will enable the world achieve net zero emissions by 2050.

The financial institution emphasized the substantial advantages of investing in emission reductions, noting that further funding is required to reach net zero emissions but that the benefits are far higher than the coats.

It also highlighted the potential to reduce nearly a third of global greenhouse gas emissions through practical and affordable actions, stressing that investments in the global agri-food system could yield over $4 trillion in benefits, including improved human health, food and nutrition security, job creation, and increased farmer profits.

According to the bank’s statement, all countries should strive for net zero emissions by reducing emissions in food systems holistically, which includes addressing energy and fertilizer use, increasing crop and livestock production, and streamlining packaging and distribution.

It also highlighted the potential for low-income nations to adopt climate-smart strategies for greener, more competitive economies.

Meanwhile, the World Bank Senior Managing Director, Axel van Trotsenburg, emphasized that while food is delicious, it contributes to climate change emissions.

He suggested that the global food system can heal the planet by making soils, ecosystems, and people healthier while reducing carbon emissions and also emphasized the need for countries to change land use for food production.