Uganda Private Sector Dialogue

Context

For transformational change towards low carbon development, the momentum of the private sector must be turned into more ambitious climate action. There is still a gap as the private sector has limited information on the various financing mechanisms available for implementation of climate actions. There is therefore need for the private sector to be guided on the innovative finance mechanisms available and approaches to leverage public- private sector finance. In addition, the lessons learnt and the good practices of private sector involvement in the implementation in the past under the Clean Development Mechanism (CDM) should be carried forward to upscale mitigation actions in the context of the Paris Agreement.

In order to fill the above-mentioned gaps and stimulate the private sector engagement in further mitigation actions, the United Nations Development Programme (UNDP) and the Government of Uganda through the Ministry of Water and Environment(MWE) Climate Change Department (CCD) in collaboration with the Private Sector Foundation Uganda (PSFU) and other development partners including UNFCCC RCC Kampala, NDC Partnership, and GIZ are organizing a two days dialogue on private sector engagement in climate action with specific focus on Uganda’s NDC.

Objectives

• Discuss the role that the private sector can play in financing and implementation of mitigation actions specific sectors such as renewable energy, energy efficiency, forestry, agriculture, transport and waste management
• Identify challenges, risks and opportunities for the private sector to be involved in financing and implementation of mitigation actions
• Discuss and share information on the different climate finance opportunities and incentives for private sector to implement mitigation actions both at sectoral, regional and international levels.
• Share best practice examples on how the private sector has financed mitigation actions e.g. in the energy sector

Key Takeaways

• Private sector involvement in climate action is critical
• Everyone has a responsibility to participate in climate action
• Providing incentives for private investment in climate action is very important
• It is possible to rally everyone to save the environment and still make money with it
• There are several climate financing opportunities at both national and international levels
  
• Climate change can affect the economy of the country and therefore the livelihood of its people
• There is a global effort to deal with climate change: various policies and programs have been development to support climate action
• Better coordination of actions being undertaken by the different players in the climate space (government, development partners, private sector) is essential for achieving the desired outcomes and greater collaboration between them should be encouraged
• For private actors involved in climate action, networking is critical for learning and information sharing as well as access to marketing and financing opportunities
  
• Sensitizing the private sector about climate change and its potential effects on their operations is key
  

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