Julian Lampietti, the World Bank’s manager for global engagement in the bank’s agriculture and food global practice, urged officials to prioritize the agriculture and food industries as they work to limit global warming to 1.5 degrees Celsius by 2025. The message comes at a critical time as countries prepare to update their climate plans in line with the goals of the Paris Agreement.
The World Bank is calling for increased investment in these sectors, which have historically been overlooked and underfunded. According to a recent report, annual investments of $260 billion are required to significantly reduce emissions by 2050, a target shared by many developed economies. By redirecting subsidies currently going to red meat and dairy products towards more sustainable, lower-carbon alternatives, governments can help bridge this investment gap and effectively integrate the cost of climate impact into food prices.
This shift would not only benefit the environment but also contribute to a more sustainable food system in the long term. The agriculture and food industries play a crucial role in meeting our food needs while also contributing to climate change. By investing in these sectors now, we can accelerate emissions cuts and ensure that our planet remains healthy for future generations.
