Julian Lampietti, the manager for global engagement in the World Bank’s agriculture and food global practice, believes that it is crucial to prioritize these sectors as we work towards limiting 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.
Investing in agriculture and food industries is essential as they 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 reduce demand for highly polluting foods.
The shift would not only benefit the environment but also contribute to a more sustainable food system in the long term. This move would help wealthy countries integrate the cost of climate impact into food prices, making it easier for consumers to make informed choices about what they eat. Overall, prioritizing agriculture and food industries is key to accelerating emissions cuts and meeting the goals of the Paris Agreement.
