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Financing Agrochemical Reduction and Management (FARM) Programme


Why is it in the news?

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

About FARM Programme

  • FARM is a $379 million initiative aimed at reducing agrochemical usage and promoting sustainable alternatives in food production.
  • It focuses on realigning financial incentives to prevent the use of harmful inputs and encourage the adoption of low and non-chemical alternatives.
  • FARM supports government regulations to phase out persistent organic pollutants (POPs) in agrochemicals and agri-plastics and adopt better management standards.
  • It strengthens banking, insurance, and investment criteria to improve the availability of effective pest control, production alternatives, and trade in sustainable produce.
  • Member countries include India, Ecuador, Kenya, Lao PDR, the Philippines, Uruguay, and Vietnam.
  • Implementing agencies include UNEP (United Nations Environment Programme), ADB (Asian Development Bank), UNDP (United Nations Development Programme), and UNIDO (United Nations Industrial Development Organization), with execution carried out in-country by FAO (Food and Agriculture Organization).
  • The programme is set to run for five years.

Significance of FARM Initiative

  • Aims to address the harmful impact of nearly 4 billion tons of pesticides and 12 billion kg of agricultural plastics used annually on health and the environment.
  • Focuses on reducing the use of highly hazardous pesticides and managing agricultural plastics to prevent the release of toxic POPs, which contaminate air, water, and food.
  • Addresses the current lack of incentives for farmers to adopt better practices due to the cheaper cost of harmful chemicals compared to sustainable alternatives.
About the Global Environment Facility (GEF)

路聽聽聽聽聽聽 Headquartered in Washington, D.C., the GEF was established during the 1992 Rio Earth Summit.

路聽聽聽聽聽聽 Serves as the financial mechanism for five international environmental conventions, including the 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).

路聽聽聽聽聽聽 The World Bank serves as the trustee for the GEF, which has more than 180 member countries, including India.

 

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