Shifting Finance Towards Sustainable Land Use: Repurposing Public Support to Agriculture
Agriculture plays a particularly prominent role in meeting climate objectives while lying at the intersection of many other policy priorities, from food and nutritional security to economic development and poverty alleviation. The sector is both a direct source of emissions and a key driver of deforestation and environmental degradation. Public support to farmers is substantial and has been growing over the past decade. Between 2017-19, public support for agriculture provided by the OECD countries and 11 major developing economies amounted to over USD 600 billion per year; almost double the value received by the sector 17 years ago, and 56 times the USD 11 billion of climate finance aimed at land use. Reducing emissions from this sector while achieving diverse, and potentially competing policy objectives, demands strong and effective land use policies. This report explores options for reducing greenhouse gases and repurposing support in the agriculture sector.
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