COP27 Egypt Presidency, FAO Launch FAST Initiative

SHARM EL SHEIKH, Egypt – 13 November 2022: In a way to increase financial support for the food and agriculture systems, the Egyptian COP27 Presidency and the UN Food Agriculture Organization (FAO), on Saturday, launched the Food and Agriculture for Sustainable Transformation (FAST)

The new initiative is targeting the food security in the most countries vulnerable to climate change impacts, the OP27 said in a statement.

It focuses on three main objectives including access to Finance to enhance countries’ capacities, providing knowledge and capacity, and policy support and dialogue that comes in accordance with climate change policies, such as Nationally Determined Contributions (NDC), National Adaptation Plans (NAP) or Long-term Low Emissions and Development Strategies (LT-LEDS).

“The impact of climate change is disproportionately impacting vulnerable communities around the world. To address this imbalance, we need to develop sustainable farming and food systems and meet the urgent needs of food importing developing countries. Through the FAST initiative, we will be mobilizing the world to unlock finance flows to increase climate resilience and implement urgently needed transformation across agrifood systems,” said COP27 President Sameh Shoukry.

“Bold transformative actions are needed to boost Agrifood system transformation, support countries and ensure that resources reach food producers across the value chain,” said Deputy Director General FAO Maria Helena Semedo.