Report: Most Agricultural Funding Distorts Prices, Harms Environment
That is the main finding of a new UN report calling for repurposing these incentives to achieve more of the 2030 Sustainable Development Goals and realize the UN Decade of Ecosystem Restoration.
The report, A multi-billion-dollar opportunity: Repurposing agricultural support to transform food systems, was launched on Tuesday by the Food and Agriculture Organisation (FAO), the UN Development Programme (UNDP) and the UN Environment Programme (UNEP).
Global support to producers in the form of subsidies and other incentives, makes up 15 per cent of total agricultural production value. By 2030, this is projected to more than triple, to $1.759 trillion. The OECD defines agricultural support, as the annual monetary value of gross transfers to agriculture, from consumers and taxpayers, arising from government policies.
Photo courtesy of Joseph D’Mello.
Source: UN News (link opens in a new window)
- Agriculture, Environment
- SDGs, smallholder farmers