Financing new technologies and CSA practices can help catalyse the agricultural transformation. Two key publications were released relating to CSA and their potential in reaching climate goals. The FAO released its “Climate-Smart Agriculture Case Studies 2018. Successful approaches from different regions” report. The report states that CSA approaches are “triple-win” scenarios based on three pillars:
- to sustainably increase agricultural productivity and improve farmers’ incomes
- to build resilience and adaptation to climate change
- to reduce and/or remove GHG emissions, where possible
Although CSA can be an important tool in advancing agriculture’s climate transformation, the report states CSA is not a silver bullet to be universally applied, but is an approach that requires a deep understanding of local contexts.
The World Bank, CCAFS, and the International Center for Tropical Agriculture (CIAT)’s report examines global trends in CSA via a scientific framework and identifies “best bet” approaches that can guide large-scale investment and de-risk investment in the sector. Five technology clusters were ranked in all three CSA pillars as the top 10 for climate-smart criteria:
- Tree management
- Improved pastures
- Conservation agriculture
- Water management
Unlocking CSA’s potential as a catalyst across various sectors, including finance, policymaking, and governance, requires significant changes in the allocation of public spending and support, as well as a more coordinated public/private funding relationship. Angela Falconer, Associate Director at the Climate Policy Initiative suggested that the development of different CSA pathways for different countries and sectors would enable a clear vision for finance approaches to increase capital to farmers and make projects happen.