$90M commitment for Pakistan Agribusiness Climate Adaptation

BAKU, Azerbaijan (NOVEMBER 14, 2024) — Acumen, a leading global nonprofit impact investor, announced today a $90 million (USD) climate finance commitment in Pakistan at the Pakistan Pavilion at COP29 during a fireside conversation with the Pakistan Finance Minister Senator Muhammad Aurangzeb.

Acumen’s $90M commitment makes it Pakistan’s first climate-focused initiative for catalytic agribusinesses across the value chain, including farmer platforms and financial solutions, smart farming, and post-harvest technologies. The commitment aims to support 12-15 growth stage agri-businesses and help increase the incomes and crop yields of 13M smallholder farmers and agriculture livelihoods by 2035.

As part of Acumen’s recently announced $300M for global agricultural adaptation, this commitment aims to build climate-resilient agriculture and food systems in one of the world’s largest, most climate-vulnerable frontier markets, where severe climate impacts threaten to cut GDP by 20% by 2050 despite contributing less than 1% of global emissions.

“By supporting innovative agribusiness and local supply chains, we are also supporting the millions of vulnerable smallholder farmers who grow our food,” said Ayesha Khan, Acumen’s Pakistan Country Director. “Our rapidly evolving climate requires creative financing and bold thinking that brings together both the private and public sectors to not only protect Pakistan’s food system but uplift people from poverty. With our newest commitment, we hope to lay a resilient foundation for the country to adapt and thrive in the face of future extreme weather events and market volatilities.”

Pakistan’s agricultural industry employs half of the workforce, drives 77% of exports, and is highly vulnerable: 90% of farmers are smallholders, productivity is well below regional averages, and food insecurity affects 90 million people as climate change continues to severely impact outcomes across the entire sector.

“Together with Acumen we are continuing on our path toward sustainable economic growth and development,” said Pakistan’s Finance Minister Senator Muhammad Aurangzeb. “Their commitment to Pakistan’s agricultural system is more than a climate investment. It is an investment in the Pakistani people — the entrepreneurs, the founders, the farmers, and our communities. We look forward to supporting them on their journey to help strengthen and grow our agricultural landscape.”

Acumen is a pioneer, global impact investor with deep climate and agricultural experience. This latest commitment builds on the success of the Acumen Resilient Agriculture Fund (ARAF), which at the time was the world’s first equity fund focused on climate resilience for smallholder farmers. 

About Acumen

Acumen is a global force of entrepreneurs, investors, philanthropists, and social innovators working together to build a world based on dignity. We were founded by Jacqueline Novogratz on the radical idea that business, when cultivated with moral imagination, can break the cycle of poverty. We invest in transformational companies, build sustainable markets, and prepare leaders with the tools they need to create a more just and inclusive future. Since 2001, we have scaled companies and shaped markets in some of the hardest-to-reach communities on the planet, impacting over half-a-billion lives. To learn more visit acumen.org. For media inquiries, please email media@acumen.org.