Assessing the need for fundamental changes in agrifood systems, Food and Agriculture Organization (FAO), along with government, and World Bank leaders stressed the mere 4.3% of total mitigation and adaptation finance going to the sector along with the potential of finance to deliver improvements in food and agriculture practices and security.

In the face of a massive gap in finance for countries impacted by fragility and conflict, a side event explored investment projects to scale up delivery of climate-resilient agriculture and water management systems, ecosystem restoration, and climate information services in Somalia, Iraq, and Burundi.

The food-biodiversity-agriculture nexus is often overlooked, despite biodiversity serving as the foundation of food security and nutrition. Sustainable food and agriculture (agrifood) systems are essential for the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF). This event explored mainstreaming food security and biodiversity considerations across all levels of participation—from farmers and communities to national, regional and global platforms.

Negotiations on enhancing the Multilateral System of access and benefit-sharing may have a breakthrough in sight: a new compromise proposal to establish a subscription mechanism with two alternative triggers for mandatory monetary benefit-sharing: early payment upon registration or deferred payment upon commercialization.