Agriculture is central to any debate on climate change given the enormous responsibility placed on the sector to produce 60% more food by 2050 despite changing climatic uncertainties. The case for increased investment in climate-smart agriculture has been articulated in different forums as a way to promote agricultural transformation and chart a path to scale up climate actions in agriculture.
However, it is noted that the amount of climate finance going into agricultural sector is very small compared with other sectors and, in contrast to what has been clearly identified in the Nationally Determined Contributions (NDCs). Less than 5% of global climate finance is targeted to agricultural sector and, even much less to smallholder farmers.
CTA is working with partners to improve climate finance and options for co-investment for agriculture in Jamaica. To do this, CTA has recently commissioned a national study to review NDCs and related policy documents of Jamaica, identify level of implementation of NDCs, assess the profile of agriculture and the engagement of agricultural stakeholders in the implementation of the NDCs, identify emerging opportunities and specific appropriate climate financing models for agriculture in the country. The national stakeholder workshop on climate finance for agriculture is convened by project partners in Jamaica: Climate Change Division of the Ministry of Economic Growth and Job Creation of Jamaica and Rural Agricultural Development Authority (RADA). Stakeholders expected at the workshop include officials from the ministries of agriculture, finance. Others include NGOs, National Designated Authority, major agro-businesses and farmers’ organisations.