Julian Lampietti, the World Bank’s manager for global engagement in the bank’s agriculture and food global practice, recently emphasized the urgent need to stop destroying the planet as we feed ourselves. This highlights the growing concern around the environmental impact of the agriculture and food industries.
Countries are preparing to update their climate plans with a goal of limiting global warming to 1.5 degrees Celsius, and the World Bank is calling for more attention and funding to be directed towards these sectors. This is crucial as emissions cuts need to be accelerated to meet the goals of the Paris Agreement.
A report from the World Bank underscores that countries must invest $260 billion annually in agriculture and food industries if they want to effectively reduce emissions by 2050. This increase from current levels of investment highlights a significant gap that needs to be addressed.
One recommendation from the World Bank is to redirect subsidies for red meat and dairy products towards lower-carbon alternatives. This change could help wealthy countries reduce demand for highly polluting foods, ultimately lowering agri-food emissions.
Governments have an opportunity to drive positive change in the agriculture and food sectors by pricing climate impact into food costs. Shifting towards more sustainable practices could play a crucial role in mitigating the environmental impact of food production and consumption.