UNDP in partnership with PSFU through the Imapcti Solutions Consultants carried out a survey on how the private sector can engage in climate mitigation and adaptation actions in the Nationally Determined Contributions (NDC) priority sectors which are; Energy and Energy Efficiency, Manufacturing, Agriculture and Agri Business and Forestry, Waste Management and Transport and Logistics and Infrastructure.
About 35 companies filled in the survey and some notable ones which are members of PSFU (Corporate and Associations and recipients of grants under SDF AND ERT) include the following; Centenary Rural Development Bank, Roofings Group, Steel and Tube Industries, Uganda National Renewable Energy and Energy Efficiency Alliance (UNREEEA), Wind Power Association of Uganda and Kinawataka Women Initiative (Recycled Plastic Straws)
A workshop was then organized in June 18th -19th, 2019 to validate the findings of the survey for the private sector to engage in climate mitigation and adaptation actions gathering over 90 participants from the private sector, various Government ministries, development partners, media, and civil society.
The workshop invited private sector companies to join interactive discussions on the latest knowledge, progress and remaining gaps on: • Understanding climate risks in Uganda, Business opportunities in Uganda’s NDC, Accessing climate financing, Supportive tools - SDG/NDC Impact Tool and Capacity building and partnerships.
Some of the findings of the workshop include that the private sector can contribute to climate action by reducing their Green House Gas emissions, climate proofing their operations, developing new climate resilient products and services and especially financial services providing financial and de-risking products to fund climate innovations.
In conclusion, the private sector needs a business case to invest in climate actions and SDGs and a business case can be enhanced through the following; an enabling policy environment with targeted policy incentives, improved ease of doing business to accelerate investment decisons of the private sector, targeted capacity builing and lastly access to climate finance.
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