Climate change, largely driven by human activities such as fossil fuel combustion and deforestation, has already pushed global temperatures beyond 1.5°C above pre-industrial levels, intensifying pressure on ecosystems and food production worldwide. This trend threatens agricultural productivity, particularly in climate vulnerable regions such as the Southern and Eastern Mediterranean (SEMED) and Central Asia, where water scarcity and shifting weather patterns are already disrupting food systems.

The ACES initiative responds to this serious issue by promoting a transition to climate-resilient, low-carbon agrifood systems. It builds on the long-standing collaboration between the EBRD and FAO, which has supported policy reforms, crisis response and capacity-building in the agricultural sector.

At its core, ACES seeks to integrate sustainability into agribusiness by encouraging investments that boost productivity while reducing environmental impact. The programme focuses on developing climate-smart pathways across key agricultural value chains, including grains, livestock and horticulture, and aims to identify and support private sector initiatives that can drive the transition to greener practices while unlocking new climate-aligned financing opportunities. It is designed both to enable new EBRD investments and to improve the sustainability performance of existing clients.

Strategically, the initiative aligns with the EBRD’s broader commitments, including its Green Economy Transition approach and its goal of continuing to direct over half of its financing to green projects. It also supports alignment with the Paris Agreement by advancing decarbonisation and climate adaptation. Key priorities include improving water management, reducing agricultural greenhouse gas emissions, and preserving natural capital. By combining analytical work, policy support, private sector engagement and technical assistance, ACES aims to foster more sustainable agrifood systems and strengthen resilience to climate change, while recognizing the need for solutions tailored to diverse regional contexts.