Government says it is committed to addressing environmental challenges such as climate change through an environmental sustainability pillar where the government has commenced sensitization among potential green bond issuers and investors across the country.
This pillar is under the 167-million-kwacha 2023national budget that aims at stimulating economic growth.
In a speech read on behalf of minister of finance and national planning Dr. Stumbeko Musokotwane during the nature-based solutions investors forum in Lusaka Ms. Prudence kaoma says due to climate change or variability, Zambia and many parts of Africa have seen an increase in droughts and other extreme weather events that have led to poor yields of crops such as maize, rice and sorghum among others.
Ms. Kaoma said the forum has come at the right time because the business community can now analyze and understand areas that potentially need to improve for the future.
“Under the budget, we have an environmental sustainability pillar where the government of the republic of Zambia has commenced sensitization among potential green bond issuers and investors across the country, which will feed into the pipeline of potential development projects to be financed through green bonds”, she said.
“This Nature based solutions forum by WWF’s Blue Heart of Africa has come at the right time because we can now analyze and understand areas we potentially need to improve for the future”, She added.
Meanwhile World-Wide Fund for Nature WWF Zambia Country Director Nachilala Nkombo said the goal of the forum is to achieve scale in climate innovation, renewables and nature-based solutions by unlocking barriers to green financing.
Ms. Nkombo noted that nature-based solutions harness the power of healthy ecosystems to provide nature services that benefit society and the environment.
She added that the value of Zambia’s natural assets has the potential to drive the country’s economy into prosperity if the sector receives at least the minimum required investment to operate at its peak.
“The Nature Based Solutions Investors Forum aims to create systemic change that will help scale climate solutions and accelerate the countries effort in transitioning to get zero emissions, by providing a platform for investors to gain exposure to innovate sustainable businesses”, she said.
And WWF blue heart of Africa initiative lead Eric Oyare said there is need for conservationist people in the development sector towards addressing climate adaptation.