ADB and University of Chicago’s DIL Partner to Advance Climate-Resilient Agriculture

“The enormous costs and risks of climate change justify investing in multiple innovations to promote adaptation and build resilience,” Kremer said.

The Asian Development Bank (ADB) and the University of Chicago's Development Innovation Lab (DIL) have entered into a knowledge exchange arrangement aimed at scaling up innovations to mitigate climate change impacts on agriculture and promote climate adaptation in low- and middle-income countries across Asia and the Pacific.

The agreement was signed by ADB's Senior Director for Agriculture, Food, Nature, and Rural Development Sector Group, Qingfeng Zhang, and Nobel Laureate Michael Kremer on behalf of DIL, alongside representatives from the University of Chicago's Office of the Provost.

Qingfeng Zhang emphasized the importance of science-based approaches for sustainable development. "The global development agenda needs to pursue long-term science-based approaches for inclusive and sustainable development," he said. "Through this cooperation arrangement, ADB and DIL will explore effective collaboration on climate change impacts, food security, digital innovation, and sustainable development in agriculture and natural resources."

The primary goals of this partnership include scaling up climate-resilient investments in agriculture, improving farmers' access to accurate climate services and weather forecasts, and increasing global awareness of digital innovations in climate services. For instance, enhancing state-level monsoon forecasts in India to average accuracy levels could benefit farmers by over $3 billion over five years, vastly exceeding the costs of procurement and significantly improving resilience to disasters and health outcomes.

The collaboration will also focus on exploring other domains of innovation, such as digital agriculture services, optimizing fertilizer use, and reducing methane emissions from livestock. Michael Kremer highlighted the necessity of investing in such innovations. "The enormous costs and risks of climate change justify investing in multiple innovations to promote adaptation and build resilience," Kremer said.

Although the agreement spans across Asia, it was signed at the ADB Resident Mission in New Delhi to emphasize the focus on India. ADB is committed to supporting India's efforts to transform its agricultural sector through modernization, sustainability, and increased productivity.

The Development Innovation Lab at the University of Chicago applies economic tools to develop innovations that could significantly benefit low- and middle-income countries.