Colombo, Aug 27 (IANS): Sri Lanka has commenced the formulation of its first climate-smart agriculture (CSA) investment plan in a bid to combat the escalating challenges posed by climate change, according to a statement issued by the Food and Agriculture Organization (FAO) of the United Nations on Tuesday.

The initiative is funded by the Green Climate Fund (GCF) and implemented by the FAO in partnership with the Ministry of Environment and Ministry of Agriculture, Xinhua news agency reported.

It aims to develop a comprehensive strategy to safeguard the country's agricultural sector from the adverse impacts of climate change, the statement said.

Sri Lanka, with its tropical climate, is highly susceptible to the effects of climate change, consistently ranking among the top 10 countries at risk of extreme weather events according to the Global Climate Risk Index.

Projections indicate significant shifts in weather patterns, including rising temperatures, erratic rainfall and increased frequency of extreme events, all of which have already begun to diminish agricultural productivity and water availability across the island, the FAO said.

Agriculture in the dry and intermediate zones is particularly vulnerable to the changing and variable climate due to climate change, with research projecting an average 10-12 per cent yield reduction if appropriate interventions are not implemented to mitigate these effects, according to the FAO.

The CSA Investment Plan is designed to be a strategic and comprehensive blueprint for fostering agricultural development that is resilient to climate change, the FAO added.