Global Environment Facility (GEF)-funded Financing Agrochemical Reduction and Management (FARM) Programme launched

Posted 23 Mar 2024

2 min read

Key highlights of FARM
- About: FARM, a one of the first such concerted efforts on a global scale, is a $379 million initiative that will realign financial incentives to:
  - Prevent the use of harmful inputs in food production.
  - Encourage the adoption of low and non-chemical alternatives.
- It will support:
  - Government regulation to phase out persistent organic pollutants (POPs) -containing agrochemicals and agri-plastics and adopt better management standards.
  - Strengthening banking, insurance and investment criteria to improve the availability of effective pest control, production alternatives and trade in sustainable produce.
- Members: India, Ecuador, Kenya, Lao PDR, the Philippines, Uruguay and Vietnam.
- Implementing Agencies: Led by UNEP and implemented by the ADB, UNDP, and UNIDO with execution carried out in-country by FAO.
- Tenure: 5 Years

Significance of FARM Initiative:
- Nearly 4 billion tons of pesticides and 12 billion kg of agricultural plastics are used every year which has a harmful impact on health and environment.
- Highly hazardous pesticides and mismanaged agricultural plastics release toxic POPs (chemicals which do not break down in the environment and contaminate air, water, and food).
  - However, currently farmers have little incentive to adopt better practices as these chemicals are generally cheaper than sustainable alternatives.

Headquarters: Washington, D.C (US).
Genesis: Established during1992 Rio Earth Summit.
About: GEF is a unique partnership of 18 agencies — including UN agencies, multilateral development banks, national entities and international NGOs working with member countries to address the world’s most challenging environmental issues.
Role: Serves as financial mechanism for five international environmental conventions:
- Minamata Convention on Mercury,
- Stockholm Convention on POPs,
- UN Convention on Biological Diversity (UNCBD),
- UN Convention to Combat Desertification (UNCCD) and
- UN Framework Convention on Climate Change (UNFCCC).
GEF Trustee: World Bank.
Member countries: More than 180 countries (including India).

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