Uganda rallies private sector to lead Climate Finance mobilization

Kampala, Uganda — In a bold move to position the private sector at the heart of climate action, Uganda today launched the inaugural National Private Sector Engagement Forum on Climate Change, signaling a strategic shift towards green investment and sustainable development.

Officiated by State Minister for Planning, Hon. Amos Lugoloobi, the high-level forum brought together government officials, development partners, private sector actors, and climate experts to explore actionable pathways for unlocking climate finance, building bankable projects, and forging partnerships that drive long-term, low-carbon growth.

“We must collectively explore ways of unlocking green investment opportunities, building bankable climate projects, and forging new alliances that will drive sustainable growth,” said Minister Lugoloobi.

Uganda, a committed signatory to the Paris Agreement, stands among the developing nations that initially pledged to mobilise USD 100 billion annually for climate action.

However, under the newly revised New Collective Quantified Goal (NCQG), that figure has been scaled up to USD 300 billion by 2035, reflecting the growing urgency and scale of global climate challenges.

While acknowledging reductions in official development assistance and a corresponding dip in global climate finance flows, Lugoloobi struck an optimistic tone:

“Uganda views these challenges as an opportunity to strengthen resilience and foster innovation. The government is committed to creating an enabling environment for private sector investment through regulatory certainty, incentives, and strategic partnerships.”

Mr. Jim Mugunga and Hon. Amos Lugoloobi during the event

The Permanent Secretary and Secretary to the Treasury (PSST), Ramathan Ggoobi, in remarks delivered on his behalf by Jim Mugunga, Director of Public Private Partnerships (PPPs), emphasized the critical role of climate finance in Uganda’s sustainable development agenda.

“As Uganda confronts the complex and growing challenges of climate change, mobilizing effective and scalable climate finance has become a cornerstone of our national strategy,” said Mugunga.

Held under the theme “Advancing Private Sector Leadership in Climate Finance Mobilisation,” the forum also marked the first step toward developing a structured National Private Sector Engagement Framework.

This initiative underscores Uganda’s recognition of the private sector as a key driver of investment, innovation, and the country’s transition to a low-carbon, climate-resilient economy.

The event sets the stage for a new era of climate finance collaboration in Uganda where policy, business, and innovation converge to shape a sustainable future.