Gathering support for ACT Fund during New York Climate Week
Throughout 2024 we’ve been talking to investors, governments and NGOs about the potential of ACT Fund to improve the lives of smallholder farmers and enhance the environment.
One of the highlights was our visit to Climate Week and the UN General Assembly in September, which demonstrated the progress we’re making in generating interest about the fund’s potential.
At a side event co-hosted with the US Department of State Office of Global Food Security, our Director of ACT Fund, Michael Van Den Berg, highlighted how the two organizations will work together through the Vision for Adapted Crops and Soils (VACS) initiative, which was launched by the Office of Global Food Security in 2022.
The session provided an invaluable opportunity to meet influential figures within the State Department including US Under Secretary of State for Economics, Energy and the Environment Jose W. Fernandez who is included in the picture above – from left to right: CFC Managing Director Amb. Mohammed Belal, Under Secretary of State Jose W. Fernandez, ACT Fund’s Michael Van Den Berg, consultant Julie Muraco of Praeditis Group and Senior Director of International Government Relations at Cargill, Anne Murphy.
During the event Michael (pictured right) explained why inclusive regenerative agriculture (IRA) is at the core of ACT Fund’s impact strategy. It is designed to increase investment in agribusinesses that are committed to regenerative practices that improve the environment, strengthen climate resilience and boost smallholder livelihoods. He also demonstrated the positive impact it will have on biodiversity (with the help of a handful of soil from Central Park – which he returned!) and how this aligns with VACS’ goal.
Following positive feedback after the event Michael said: “We are more convinced than ever that the ACT Fund strategy offers a clear pathway to climate adaptation alongside other impact targets. With inclusive regenerative agriculture we have an approach that credibly ties together climate adaptation, farmer income, biodiversity and food security.”
He added: “The response to this approach which I presented at New York Climate Week was very encouraging. There is recognition that agriculture has a central role to play in tacking climate change, especially from an adaptation perspective. That’s why our farmer-centric impact strategy is gathering such interest.”
Michael and Amb. Belal also discussed how ACT Fund seeks to support healthier soils, sustainable land use and crop diversity, with the leader of the VACS initiative Dr Cary Fowler (pictured left in the middle), who is also the US State Department’s Special Envoy for Global Food Security.
During the wider UN General Assembly, Amb. Belal emphasized how investing in agribusinesses creates economic, social and environmental opportunities where they are needed most. He also urged those present to work to increase the funding available to small and medium sized (SME) agribusinesses to amplify their positive impact.
Amb. Belal said: “It is always an honour to make the case for investing in agri-SMEs and smallholder farmers on the international stage and to senior figures such as UN Trade and Development Secretary General Rebeca Grynspan (pictured right). It is particularly important right now as the world faces the challenges of climate change and political instability, which the poorest smallholders have the least resilience to.”
“There is also huge potential for growth that improves livelihoods and protects the environment if we can unlock the capital to finance it. That’s what we’re continuing to work hard to do at the CFC through innovations such as ACT Fund.”
To find out more about our time in New York and how ACT Fund is driving positive outcomes for smallholder farmers and investors, get in touch with: managing.director@common-fund.org.