"AfDB, ICRAF to protect cocoa yields of Ivorian small farm holders"

" \n The African Development Bank Group (AfDB) together with the International Agroforestry Agency (ICRAF), with a new initiative are seeking to bring relief to two Ivorian smallholder cocoa farmers\u2019 communities grappling with declining yields caused by climate change and worsened by the COVID-19 pandemic. \n \n\n \n Under the Bank\u2019s new initiative - the Adaptation Benefits Mechanism (ABM) - two smallholder farmer communities - Soubre and Vavoua - with over 800,000 Ivorian farmers will receive climate-resilient and sustainable agroforestry assistance in 2021. The scheme will be implemented by the ICRAF and its partners \u2013 Mars Confectionaries, and the Rainforest Alliance. \n \n\n \n \u201cOur experience has proven that agroforestry practices, knowledge, and skills transfer enhance the sustainability of cocoa plantations and improve the resilience of smallholder farmers\u2019 communities, particularly of women and youth,\u201d said Christophe Kouame, ICRAF\u2019s Director for Central and West Africa. \n \n\n \n \u201cAgroforestry and climate-smart landscapes can generate nature-based solutions that reduce climate risks, as well as losses and damages caused by climate change,\u201d Mr Kouame added. \n \n\n \n The Adaptation Benefits Mechanism (ABM) \u2013 a first-of-a-kind results-based non-market mechanism for financing adaptation, piloted by the African Development Bank in the period 2019-2023, will be used to mobilize new finance to replicate the successful practices in other Ivorian cocoa farmer communities and in at least three other cocoa-growing countries in the region. \n \n\n \n \u201cThe current levels of climate finance for Africa are only a fraction of what is needed to ensure a smooth transition to a sustainable, low carbon and resilient continent,\u201d said Anthony Nyong, Director for Climate Change and Green Growth at the African Development Bank. \n \n\n \n \u201cThe\u00a0African Development Bank aims to mobilize at least $50 million by 2023 to pilot the ABM and operationalize it for global use,\" he added. \n \n\n \n Under the ABM, adaptation project developers can sign off-take agreements with a variety of public, private and non-profit actors for payments upon delivery of certified adaptation benefits and use those agreements as collateral for achieving equity and raising finance.\u00a0 \n \n\n \n Unlike mitigation projects, the vast majority of adaptation initiatives struggle to raise finance because they deliver public good and rarely generate cash flows. Without an incentive to address this issue, such as through the ABM, many vulnerable communities will become even more exposed to the devastating impacts of climate change. \n \n\n \n C\u00f4te d\u2019Ivoire is the world\u2019s largest cocoa producer, followed by Ghana. Together, the two West African neighbours account for more than two-thirds of the global supply. Cocoa plantations, which are the backbone of the world\u2019s chocolate supply, are highly vulnerable to climate hazards, such as heatwaves, droughts, seasonal shifts, and erratic rainfall. \n "

"AfDB, ICRAF to protect cocoa yields of Ivorian small farm holders"

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