The Rome 2007 Initiative, was initiated in November 2007 by the FAO Investment Center and the Global Mechanism, with the participation of IFAD and WFP.
The intention is to engage in global, large-scale activities to reduce emissions from the agriculture, rural and land use sectors so that these thus far underrepresented sectors can benefit from the emerging carbon markets and related investments while at the same time assisting with the development of urgently needed adaptation measures.
This process is currently coordinated by FAO and the GM in collaboration with a specialised international private sector partner, EcoSecurities, under the framework of a public-private sector working group.
It includes the proposal for a Centre of Competence for Climate Change and Rural Development and, more specifically, the elaboration of an Investment Facility concept to promote climate change mitigation and adaptation projects in the agricultural, rural and land use sectors.
The Rome-based United Nations Agencies, namely IFAD, WFP, FAO and the Global Mechanism of the UNCCD, and a selected group of Private Sector Companies already met twice (November 2007 and March 2008) with the intention to pursue the dialogue towards building public-private coordinated actions in the land use and agricultural sector within the prevailing Climate Change international framework.