Climate Change
Government Rallies Private Sector to Lead Climate Finance Drive at Inaugural Forum
Uganda has taken a bold step toward enhancing climate resilience and green economic growth by launching the first-ever National Private Sector Engagement Forum on Climate Change, with a call to action for businesses to take center stage in mobilising climate finance and driving sustainable investment.
Officiating at the forum, State Minister for Planning, Hon. Amos Lugoloobi, urged stakeholders to forge meaningful partnerships that will unlock green investment opportunities, build bankable climate projects, and accelerate the country’s shift towards a low-carbon economy.
“We are all aware of the global reductions in official development assistance and the resulting decline in climate finance flows,” said Lugoloobi. “However, Uganda views these challenges as opportunities to strengthen resilience and foster innovation.”
The Minister reiterated Uganda’s commitment under the Paris Agreement, where developing nations initially pledged to mobilize USD 100 billion annually for climate action. This target has since been revised under the New Collective Quantified Goal (NCQG) to USD 300 billion by 2035—a goal that Lugoloobi said must be matched with bold leadership, particularly from the private sector.
He emphasised that the government is working to create a conducive investment climate by offering regulatory certainty, fiscal incentives, and strategic partnerships designed to catalyse private capital into climate-smart sectors such as renewable energy, sustainable agriculture, water management, and urban resilience.
Representing the Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, was Jim Mugunga, Director of Public-Private Partnerships, who echoed the critical role of the private sector in addressing the climate crisis.
“Mobilising effective and scalable climate finance has become a cornerstone of Uganda’s national development strategy,” Mugunga said. “This inaugural forum marks a pivotal first step towards building a structured National Private Sector Engagement Framework.”
Held under the theme “Advancing Private Sector Leadership in Climate Finance Mobilisation,” the forum gathered a cross-section of actors from industry, development finance institutions, civil society, and government agencies. It signalled a new era of collaboration aimed at driving innovation, unlocking green finance, and positioning Uganda as a climate-resilient, sustainable economy.
The forum also underscored Uganda’s increasing recognition of the private sector as an indispensable partner in achieving both national development goals and international climate commitments.
Organisers say future editions of the forum will deepen stakeholder engagement, track investment mobilization progress, and promote success stories from Ugandan enterprises leading in green innovation.
Comments
