September 5, 2024

 

Experts urge greater investment in livestock sector to meet climate goals

Experts have warned that without increased investment and improved data, low and middle-income countries will face challenges in developing sustainable livestock practices essential for future food demands and climate mitigation, Sustainable Views reported.

 

A recent report from the Livestock Data for Decisions (LD4D) climate finance solutions group, a coalition of 20 international experts in livestock and finance, highlights the lack of robust data as a key barrier to the livestock sector's access to climate finance. This gap, according to the group, limits the sector's ability to meet climate goals in lower-income nations.

 

Ahead of the upcoming United Nations General Assembly and COP29, the LD4D group is calling on global decision-makers to acknowledge the vital role of livestock in reducing greenhouse gas emissions and supporting adaptation to increasingly extreme weather patterns.

 

Carlos Gonzalez Fischer, a member of the LD4D group and research associate at Cornell University, emphasised the importance of climate finance in helping the sector meet future challenges. "More than 1.3 billion people rely on livestock for food security, and this number will only grow in the coming years. Supportive policies and more climate finance will help the sector finally unlock its full potential to reduce hunger sustainably," said Fischer in a statement.

 

The livestock sector accounts for up to 20% of human-induced greenhouse gas emissions but receives a disproportionately small share of climate finance. Agriculture, in general, receives around 4.3% of total available climate finance, while smallholder farmers receive only 0.8%. The LD4D group notes that the livestock sector receives just a fraction of that 0.8%.

 

Gareth Salmon, senior researcher at SEBI-Livestock at the University of Edinburgh, explained the challenges facing livestock investments. "Investors have historically viewed livestock as a high-risk sector for climate mitigation and adaptation investments, compounded by negative public perception. Investors may feel challenged by the lack of clear methodologies to quantify returns and the variable impacts compared to crop investments," said Salmon.

 

A significant portion of the livestock industry is based in lower to middle-income countries, where the broader challenges of climate finance are felt most acutely. A July report from Oxfam highlighted two major issues in climate finance: wealthy nations are primarily offering loans, worsening the debt crisis in poorer countries, and presenting an inflated image of how much funding is truly directed towards climate-related projects.

 

The Climate Policy Initiative has stated that climate finance for agri-food systems must increase at least sevenfold to meet even the most conservative estimates for a successful climate transition.

 

The report also pointed out that several new technologies in the livestock sector, such as methanogenic feed supplements, have been well-tested but remain underutilised due to insufficient funding. This is even though rising global demand for animal products, particularly in emerging economies, presents significant opportunities for investment.

 

The LD4D group noted that food demand is expected to increase by 30% by 2050, driven by a projected population growth of 2 billion people over the same period. To meet this demand, livestock production will need to become more efficient, producing more without increasing emissions — a goal that will require significant climate finance.

 

The report also stressed that improving climate finance in the livestock sector could yield multiple co-benefits across the United Nations Sustainable Development Goals. These benefits would include supporting small and medium-sized farmers, as well as upstream and downstream micro, small, and medium-sized enterprises.

 

"Our evidence briefs aim to close a crucial knowledge gap in climate action for livestock development," said Laura Cramer, policy engagement specialist at the International Livestock Research Institute. "We hope this clarity will lead to climate solutions that benefit food security, nutrition, and livelihoods in livestock-dependent communities."

 

-      Sustainable Views