CEOs' Breakfast Meeting on Climate Finance Mobilisation
Ministry of Finance, Planning and Economic Development convened a high-level CEOs’ Breakfast Meeting on Climate Finance Mobilisation,which brought together executive leaders from Uganda's financial institutions, private sector, capital markets, and development partners under the theme: Climate Finance in Action: From Policy to Private Investment.
The Permanent Secretary and Secretary to the Treasury in his remarks said Uganda requires USD 28.1 billion for climate action by 2030 and 86 percent of which must come from private and other international sources.
"This funding gap is not a challenge. It is the largest investment opportunity for our economy,"said the PSST, adding that Uganda could lose up to 7% of GDP by 2040 if climate risks are not adequately addressed.
He said Government is committed to the development of climate-smart infrastructure as evidence of the seriousness of that risk.
The meeting was convened to engage Uganda’s top institutional leaders in an honest conversation about the barriers and opportunities in the country’s climate finance landscape, and to secure concrete institutional commitments that advance private sector participation and investments.
The keynote address was delivered by Mr. Mark Napier, Chief Executive Officer of Financial Sector Deepening Africa (FSD Africa).
He said Climate finance is not a trade-off against development, rather a route to development and innovation, adding that climate finance globally has only reached USD 2 trillion, far below the USD 7.8 trillion needed.
He noted that Africa's private sector share of that available financing remains critically low compared to the rest of the world. He singled out Norway where 96% of new car sales are now fully electric as a powerful illustration that climate transition, when embraced deliberately, becomes an engine of growth rather than a burden.
He also highlighted how Uruguay's issuance of a sustainability-linked bond attracted 40 first-time international investors, underscoring the strategic value of green financial instruments beyond the financing itself.
Private sector representatives noted that companies that have already invested in green transitions converting energy systems, reducing discharge, adopting cleaner production currently receive no financial incentives or credit recognition.
The meeting closed with participants agreeing on the need for a CEO Declaration, a private sector climate finance taskforce, and a prioritised set of financing opportunities and regulatory barriers to be taken forward as concrete next steps.