Climate actions in the agribusiness sector
How Fundecooperación contributes to the agribusiness sector?
Fundecooperación, due to its reason for being and its commitment to the Sustainable Development Goals (SDG), particularly goal 13 to “take urgent action to combat climate change and its impacts,” has promoted diverse actions to implement climate actions in the agribusiness sector based on its two action lines: support for financing for entrepreneurs and micro, small, and medium agricultural producers, on the one hand; and management and execution of cooperation projects to be able to improve knowledge and skills in the sector, on the other hand.
Thanks to this experience, Fundecooperación has been able to support inter-institutional and inter-sector efforts for the Costa Rican economy to mitigate and adapt to climate change. This is especially true in the agricultural sector as one of the main economic activities for the country and a major contributor to reducing any greenhouse gases that are emitted by Costa Rica. This means being aware of the imperative need to make adjustments to the agricultural production system and join synergies related to the environmental matters that are held in common.
In that regard, the Foundation has worked to bolster, in its role as the facilitation entity, the implementation of good climate practices through its credit supply and assistance with a sustainable focus. Likewise, handing and managing the international cooperation projects that target climate actions, the creation of skills thanks to the dissemination of success cases, lessons learned, and knowledge manuals make it possible for Costa Rican farmers and their families to know how to engage in adaptation and mitigation actions and to identify which tools are necessary and effective.
How it is demostrated?
This is demonstrated by collaborating in assigning a value to the Nationally Appropriate Mitigation Actions (NAMA) related to coffee and livestock where Costa Rica is viewed as a climate laboratory for the world. The National Low Carbon Emission Livestock Strategy is also a specific action that has been supported by Fundecooperación in the form of initiatives that are worthy of reference due to their innovation and contribution to meeting the 17 Sustainable Development Goals.
An example is the usage of agribusiness insurance policies as an incentive so farmers implement environmentally friendly practices to adapt to climate change. This, in turn, is a tool for financial inclusion. Other examples include providing financing for purchasing and installing water reservoirs and tanks, fodder, living fences, biodigesters, and other environmental technologies that are promoted by Fundecooperación.
The Foundation attempts to continue promoting the adoption of good practices to be able to decrease the environmental risks caused by the onslaught of climate change in the agribusiness sector as well as through suitable financing to turn domestic policies into specific actions at the local level.
Management and implementation of the Adapta2+ Program financed by the Adaptation Fund, whose purpose is to reduce vulnerability and to improve the resilience of communities in three critical sectors: including agriculture, exemplifies our contribution to sustainable agribusiness actions. The implementation of adaptation measures by small and medium agricultural producers doubtlessly generates a socio-economic and environmental impact on the agricultural sector.