du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

$4 bn US-UAE effort to help farming adapt to climate change

UAE has developed technology to boost food yields from largely desert areas. AFP
  • During the UN talks in Glasgow, Scotland, the two countries launched the Agriculture Innovation Mission for Climate
  • The AIM is seen as critical for averting the most disastrous impacts of climate change

As part of COP26 climate talks, the United States and United Arab Emirates launched a campaign on Tuesday to direct funding towards making agriculture climate-resilient and cutting its emissions, Reuters reported on Wednesday. 

During the UN talks currently underway in Glasgow, Scotland, the two countries launched the Agriculture Innovation Mission for Climate (AIM for Climate), which is seen as critical for averting the most disastrous impacts of climate change.

“The climate crisis threatens to disrupt food systems around the globe, exacerbate food insecurity and negatively impact farmers’ livelihoods,” U.S. agriculture secretary Tom Vilsack said, quoted by Reuters, adding investment to help the industry adapt was needed.

AIM has so far been endorsed by over 30 countries and 40 NGOs.

A total of $4 billion has been committed so far, almost exclusively through government investments, by the participating governments, which span Europe, Asia, and Africa.

Funds available to individual governments will be used to fund research on reducing agricultural emissions and promoting biodiversity, as well as improving farm climate resilience.

As a result of its oil revenues, UAE has become wealthy, but it has also developed technology to boost food yields from largely desert areas.