Kampala, Uganda:- The Republic of Uganda is hosting the 2nd Annual Climate Finance Conference, a high-profile event aimed at addressing the widening climate finance gap in Africa, which is critical for achieving the continent’s sustainable development goals.
The conference, themed “Closing the Climate Financing Gap in Africa,” is co-hosted by the Climate Finance and Sustainability Centre at Makerere University Business School (MUBS) and the Uganda Institute of Banking and Financial Services (UIBFS).
Hon. Songa Lawrence Biyika, MP for Ora County and Chair of the Parliamentary Committee on Climate Change, officially opened the conference, emphasizing the significance of climate finance at both national and global levels.
“Before Africa can address the broader global climate finance gap, it must first tackle the microclimate finance gap at home,” he stressed. “Climate finance is not just a global issue, but a local one as well,” he added. “We must prioritize green, smart solutions that can be replicated across the continent.”
Dr. Maria Nantongo, Director of the Climate Finance and Sustainability Centre at MUBS, underscored the urgent need for climate finance mobilization in Africa. “Africa can only finance 10% of the resources required to combat climate change, yet this is a pressing and urgent issue affecting everyone,” she said.
“Academic institutions have a critical role in shaping climate finance policies and training the next generation of financial leaders.”
The conference features insightful panel discussions and expert presentations, including Mrs. Mona Mugume Ssebuliba, CEO of aBi Finance, speaking on ESG, Greening, and Sustainability, and Dr. Denis Mugagga, from the Climate Finance Unit of the Ministry of Finance, discussing Uganda’s national frameworks for climate finance mobilization.
Several expert panel discussions will also be held on topics such as:
- National Development Aspirations and Climate Change Action – Aligning national frameworks with climate finance mobilization and utilization.
- Private Sector Climate Finance – Enhancing the role of private sector investments in climate resilience, including the financial services industry.
- Nationalizing the Loss and Damage Fund – Uganda’s approach to mitigating climate-related economic impacts.
- Carbon Markets Participation – Strategies for increasing Africa’s share in the Global Carbon Credit Market.
- Climate Finance Progress Review – A stocktake on national efforts in mitigation, adaptation, and biodiversity conservation in line with the Paris Agreement.
- Capacity Building for Climate Finance – Developing human capital to effectively mobilize and deploy climate finance.
- Public Awareness on Green Finance – Increasing consumer knowledge of green financial products and sustainable investment opportunities.
- Financing Locally Led Adaptation – Empowering communities through localized, sustainable financial solutions.
Mrs. Goretti Masadde, CEO of UIBFS, emphasized the critical role of the financial sector in addressing climate change. “At the Uganda Institute of Banking and Financial Services, we recognize that the financial sector has a crucial role to play in addressing climate change,” she said. “Under our Green Finance initiatives, we have developed a Green Finance curriculum, championed ESG training, and proudly launched the Green Finance Awards—a first of its kind, recognizing institutions embedding sustainability into their operations.”
The conference is made possible through the generous support of various organizations, including UNCDF, IFAD, MOFPED, aBi, GIZ, BOU, ARCAFIM, DTB, the Danish Embassy, NMG, CSBAG, NREP, GRO Foundation, Ebee Bikes, aRIN, and Frankfurt Business School. Their commitment underscores the growing collaboration in advancing sustainable financial solutions for climate resilience.
The 2nd Annual Climate Finance Conference serves as a critical platform for driving meaningful action toward climate finance mobilization, fostering cross-sector collaborations, and ensuring Uganda and the broader African continent play an active role in the global climate finance agenda.
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