During COP27, the annual UN Climate Conference held from November 7 to November 18, the U.S. Agency for International Development (USAID) announced multiple initiatives to advance progress to combat the climate crisis. These announcements complement the Agency’s ongoing efforts to support partner countries around the world transition to renewable energy, conserve globally critical ecosystems like tropical forests, and prepare for climate change impacts that are already upon us. Negotiations at COP27 continue amidst calls from the global community for a renewed commitment to the goal of holding warming below 1.5 degrees Celsius and increased support for countries confronting the impacts of the climate crisis.
USAID Accelerates Climate Finance. On November 9, USAID announced a suite of programs and targets to increase private investment in climate solutions and make progress on its COP26 commitment to mobilize $150 billion in climate finance by 2030. These include a new Sustainable Banking Alliance to grow the capacity of banks based in USAID partner countries to increase their climate investments, a partnership with the Millennium Challenge Corporation to expand our work in supporting the use of green finance mechanisms such as green bonds across the globe, and the launch of the Climate Finance Investor Network to facilitate faster engagement with the private sector to tackle climate adaptation and mitigation. Read the full press release; watch Chief Climate Officer Gillian Caldwell’s remarks.
Global Expansion of Comprehensive Action for Climate Change Initiative. On November 11, Administrator Power announced the expansion of the Comprehensive Action for Climate Change Initiative (CACCI) from Africa into a global program. CACCI is a USAID mechanism to provide technical assistance to countries in delivering on their climate goals under the Paris Agreement. USAID will work directly with 21 partner countries through local and regional institutions in Africa, Asia, Latin America, and the Caribbean, up from an initial four countries in Africa when the initiative was launched at COP26. Read the full press release; watch Administrator Power’s remarks.
USAID Reaffirms Commitments to Investments in Climate Smart Food Systems. On November 11, Administrator Power reaffirmed USAID’s commitment to the Agriculture Innovation Mission (AIM) for Climate initiative, highlighting another installment of $43 million in line with AIM for Climate objectives. Administrator Power also announced two new AIM for Climate Innovation Sprints to advance innovation in agriculture and new USAID partnerships that will increase private sector investments in climate-smart food systems: a partnership with Bayer Crop Science and the International Rice Research Institute to improve the quality of life of smallholder rice farmers; and a partnership with Olam Food Ingredients (ofi), Nestlé, Mars Wrigley, Costco Wholesale, Mondelēz International, and Blommer Chocolate Company to help smallholder cocoa farmers use more climate-smart agricultural practices. Read the full press release; watch Administrator Power’s remarks.
USAID Launches Initiative to Reduce Methane Emissions. On November 11 at the AIM for Climate event, Administrator Power announced that USAID and the State Department would launch a new program to mainstream and scale up USAID efforts to mitigate methane emissions. Methane emissions, including emissions from the agricultural sector, are supercharging global warming and represent our best near-term opportunity to slow global warming. Read the full press release; watch Administrator Power’s remarks.
Launch of President’s Emergency Plan for Adaptation and Resilience (PREPARE) Call to Action to the Private Sector. On November 12, Administrator Power announced a global Call to Action for businesses to make significant new commitments to building climate resilience in partner countries. Commitments already made in support of this Call to Action include expansions of climate information and early warning systems, introduction of new financial products and services, innovations for climate-smart food systems, and paradigm-shifting insurance solutions. Initial companies to join the Call to Action include: Google, Gro Intelligence, Mastercard, Marsh McLennan, Meta, Microsoft, Pegasus Capital Advisors, PepsiCo., SAP, and WTW. Read the full press release; read the fact sheet; watch Administrator Power’s remarks.
U.S. Government Provides $15 Million to Launch Red Sea Initiative. On November 12, Administrator Power announced this major new initiative aimed at conserving the Red Sea’s coastal ecosystem, while promoting high-value, low-environmental impact ecotourism. USAID will build on its initial $15 million contribution by collaborating with the United Nations Global Fund for Coral Reefs (GFCR) to enlist additional donors and investors from the public, private, and non-profit sectors to conserve the Red Sea’s coastal ecosystem for future generations. Read the full press release; watch Administrator Power’s remarks.
USAID Advances Global Climate Action and Gender Equality. On November 14, USAID announced programs to advance gender-responsive climate action. These include USAID dedicating $21.8 million to gender-responsive climate action from the Gender Equity and Equality Action (GEEA) Fund, surpassing its $14 million COP26 commitment; launching a new Climate Gender Equity Fund to leverage private sector funding to scale climate finance that advances gender-equitable climate action; and a $23 million initial investment in a new, nine-year program, Egyptian Pioneers, that aims to build a more inclusive and capable Egyptian workforce while contributing to climate goals. Read the full press release; watch USAID/Egypt Deputy Mission Director Margaret Sancho’s remarks.
USAID Launches Grand Challenge Activity to Counter Corruption in Green Minerals Supply Chains. On November 15, USAID launched an open call for innovations that root out corruption in green mineral supply chains to fulfill the promise of an inclusive, sustainable, and just clean energy future. Read the full press release; watch Administrator Power’s remarks.
USAID Announces Progress on Support for Indigenous Peoples, Conserving Global Forests. On November 16, USAID announced progress the Agency has made in delivering on two major commitments: President Biden’s Plan to Conserve Global Forests and a commitment to build our partnership with Indigenous Peoples. This includes new initiatives to conserve forests in the Amazon, Congo Basin, and Southeast Asia; as well as progress toward the global Forest Tenure Pledge to provide $1.7 billion to advance support for IPLC tenure rights and their forest guardianship between 2021 and 2025. Read the full press release; watch remarks from Chief Climate Officer Gillian Caldwell on conserving forests and remarks from USAID/PPL Senior Policy Analyst Lauren Baker and USAID/DRC’s Nicodeme Tchamou on support for Indigenous Peoples.
USAID Invests in Early Warning Systems for Impending Climate-Related Disasters to Save Lives. On November 17, USAID announced $33 million to provide communities at risk of climate-prone disasters – including cyclones, droughts, and floods – with access to effective early warning systems. Read the full press release; watch USAID/BHA Assistant to the Administrator Sarah Charles’ remarks.
To learn more or watch USAID-hosted and Administrator Power’s public events, visit usaid.gov/climate/cop27
