From
VIOLET MENGO in Warsaw, Poland
THE
International Fund for Agriculture Development (IFAD) says adapting to climate
change creates economic benefits for small holder farmers in developing
countries.
This
is according to a report issued today (Thursday 14th) entitled the Adaptation Advantage: The Economic Benefits
of Preparing Small Scale Framer for Climate Change.
The
adaptation advantage: The economic benefits of preparing small-scale farmers
for climate change adaptation means anticipating the adverse effects of climate
change and taking appropriate action to prevent the damage they cause.
And
IFAD President Kanayo Nwanze said investing in adaptation offers many benefits
for food security, poverty reduction and environmental conservation when
farmers take up more profitable and sustainable cultivation and post-production
methods.
The
report shows the economic and financial benefits of investments aimed at
preparing small-scale farmers for climate change at both a community and a
global level through adaptation investments.
Targeted
investment is needed to encourage adaptive practices towards sustainable food
security while avoiding crop losses and damages.
“By
taking a cost-effective risk-based approach to these IFAD adaptation projects,
we are able to measure the economic benefits for smallholder farmers
themselves,” said Mr Nwanze.
“We
are seeing cost-saving benefits and a rise in incomes, not to mention wider
global benefits such as avoided emissions and biodiversity gains.”
IFAD’s
Adaptation for Smallholder Agriculture Programme (ASAP) is a unique and
innovative instrument that channels climate finance to small-scale farmers so
that they can increase their overall climate resilience.
ASAP
also provides the framework for a more comprehensive accounting of the economic
benefits that arise from adaptation investments.
“Investing
in adaptation for smallholders is a win-win scenario, and we need to show
governments at the UN’s climate negotiations in Warsaw how climate finance –
such as IFAD’s ASAP – can bring in net positive economic and environmental
benefits for smallholders across the world,”
the President said.
Ends…
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