The presidency sought to mobilise $140 billion to $300billion through both public and private sources annually to pursue goals which include transitioning to climate resilient, sustainable agriculture that can increase yields by 17% and reduce farm level greenhouse gas (GHG) emissions by 21%, without expanding agricultural frontiers, and while improving livelihoods of farmers.
Collectively, these outcomes represent the first comprehensive global plan to rally both state and non-state actors behind a shared set of adaptation actions that are required by the end of this decade. These actions will be taken across five impact systems: food and agriculture; water and nature; coastal and oceans; human settlements, and infrastructure. They will include enabling solutions for planning and finance across these sectors.
“We are determined to develop a governance arrangement that secures continuity in scope, priorities, and reporting, while increasing action on the ground that accelerates system interventions, and the adaptation and resilience outcome targets identified by the High-Level Champions,” said COP27president and Egypt’s minister of foreign affairs Sameh Shoukry while launching the Agenda on Tuesday.
The 30 adaptation outcomes under the agenda also include bringing 2,000 of the world’s largest companies on board to integrate physical climate risk and develop actionable adaptation plans, and investing $4 billion to secure the future of 15 million hectares of mangroves.
Spread over India and Bangladesh, the Sundarban region, home to 7. 2 million of the world’s most vulnerable people and the single largest mangrove forest in the world, will benefit from the adaptation efforts. India’s environment minister Bhupender Yadav while speaking at the launch of the Mangrove Alliance for Climate (MAC) on the sidelines of COP27 on Tuesday said: “We see the tremendous potential mangroves have for mitigation of growing GHG concentration in the atmosphere. Studies have shown that mangrove forests can absorb four to five times more carbon emissions than landed tropical forests”.