Ahead of COP28, the UN’s International Fund for Agricultural Development (IFAD) urges global leaders to shift gears and drastically and urgently scale-up climate finance for small-scale farmers and small agribusinesses, who produce one third of the world’s food and up to 70 percent of the food in low- and middle-income countries. Many are brutally impacted by climate change.

Yet, climate finance going to small-scale agrifood systems has gone down by 44 percent and is now as low as 0.8 percent of total climate finance, falling far short of needs. A new report published today by the ClimateShot Investor Coalition (CLIC) and the Climate Policy Initiative (CPI) reveals.