It draws from global best practices, including the GRI and ICMA Bond Principles, while being tailored to the East African context.<\/p>\n\n\n\n
\u201c In partnership with MoFPED and other stakeholders, we are developing a taxonomy to define eligible green activities, reduce greenwashing, and enhance transparency in climate finance,\u201d Atingi-Ego stated adding that together with the Uganda Bankers Association (UBA) and the Uganda Institute of Banking and Financial Services (UIBFS), the Central Bank is building capacity in green finance product development, risk assessment, data governance, and reporting.<\/p>\n\n\n\n
Atingi-Ego was giving a key note address at the just concluded first National Private Sector Engagement Forum on Climate Finance ( NaPSEF 1) held at Serena Hotel, Kampala.<\/p>\n\n\n\n The Governor called upon the banking sector to integrate climate considerations into their business models- noting that it is not only a regulatory burden\u2014it is a strategic imperative. \u201cIt presents a unique opportunity to align profitability with sustainability\u201d.<\/p>\n\n\n\n \u201cWe encourage financial institutions to define the scope of their Sustainable Finance Frameworks (SFFs) in line with national sustainability goals. Develop exclusion lists to mitigate environmental and social risks and engage third-party reviewers for independent ESG assurance to enhance data reliability and transparency,\u201d he stressed.<\/p>\n\n\n\n \u201cI urge all public and private sector actors to collaborate more closely, invest more boldly, and plan more sustainably. ESG integration is not a distant goal\u2014it is expected to become mainstream in Uganda within the next 2 to 5 years, he added .<\/p>\n\n\n\n Mr. Denis Mugaga, the Head of the Climate Finance Unit , told the well attended forum that government of Uganda created a Climate Finance Unit in the Minsitry of Finance ,Planing and Economic Development (MoFPED )to lead on the coordination of climate and green finance mobilization, expenditure and tracking.<\/p>\n\n\n\n \u201cThe work of the Climate Finance Unit commenced in March 2023 with the support of the Foreign, Commonwealth & Development Office (FCDO) and now with the European Union through the Global Green Growth Institute (GGGI),\u201d Mugaga said.<\/p>\n\n\n\n Mugaga revealed that the ministry has et up a National Green Taxonomy (NGT) 2025 to provide a clear criteria for classifying green projects. It aims at supporting the private sector to channel capital into investments that contribute to carbon reduction, climate resilience.<\/p>\n\n\n\n \u201c We have guidelines for mainstreaming climate actions in the financial sector 2024 which provide financial institutions in Uganda with clear and practical steps on how climate action can be mainstreamed into their operations. This is in addition to the launch of the Uganda Carbon Markets Regulations & Fiscal Framework 2025 to support Uganda\u2019s readiness to participate in carbon markets & guide fiscal requirements thereof,\u201d he added .<\/p>\n\n\n\n Mr. Jim Mugunga , the Director Private Public Partnerships (PPP) at the Minsitry of Finance , underscored the importance of PPPs in primarily addressing infrastructure and service deficits.<\/p>\n\n\n\n By leveraging private sector capital, expertise and efficiencies, Mugunga argued , government is positioning itself to attract private capital to supplement its annual expenditure on infrastructure and services now at the tune of Ug.Shs. 13.8 Trillion which amount is insufficient.<\/p>\n\n\n\n \u201c There is a need for alternative financing sources. PPPs advance the case for climate action by unlocking private capital,\u201d Mugunga added.<\/p>\n\n\n\n Editor;msserwanga@gmail.com<\/strong> <\/strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The Bank of Uganda is developing the Climate Risk Guidelines which will be issued soon to provide clear direction on<\/p>\n","protected":false},"author":2,"featured_media":14858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[434],"tags":[],"class_list":["post-14857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mofped-climate-finance-agenda"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/07\/ppp-scaled.jpg","jetpack-related-posts":[{"id":13800,"url":"https:\/\/prowebinhost.com\/anzu\/president-museveni-appoints-dr-michael-atingi-ego-60-new-bank-of-uganda-governor\/","url_meta":{"origin":14857,"position":0},"title":"President Museveni Appoints Dr. Michael Atingi-Ego (60) New Bank Of Uganda Governor","author":"UgandaUpdate","date":"February 10, 2025","format":false,"excerpt":"President Yoweri Museveni has finally appointed new Bank of Uganda Governor ,Dr. Michael\u00a0Atingi-Ego. He will be deputised by Augustus Nuwagaba. Atingi -Ego, who is 60 years old has ben serving as the Deputy Governor.\u00a0 He has been the acting head of the bank since the death of long-serving former governor,\u2026","rel":"","context":"In "National News"","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/02\/AA1yK4cw.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/02\/AA1yK4cw.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/02\/AA1yK4cw.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/02\/AA1yK4cw.jpg 2x"},"classes":[]},{"id":4617,"url":"https:\/\/prowebinhost.com\/anzu\/bank-of-uganda-directs-financial-institutions-to-continue-financial-credit-relief-to-edication-and-hospitality-sectors-to-recover-from-covid-19-effects\/","url_meta":{"origin":14857,"position":1},"title":"BANK OF UGANDA DIRECTS FINANCIAL INSTITUTIONS TO CONTINUE FINANCIAL CREDIT RELIEF TO EDUCATION AND HOSPITALITY SECTORS TO RECOVER FROM COVID -19 EFFECTS","author":"UgandaUpdate","date":"November 23, 2021","format":false,"excerpt":"The Bank of Uganda (BoU) has directed all Supervised Financial Institutions (SFI) to continue providing credit relief for at least another year to allow private sector players in the education and hospitality sectors recover from an economic meltdown caused by a two year rampaging -Covid -19 pandemic . This is\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/prowebinhost.com\/anzu\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/11\/Dr-Atingi-Ego.jpg","width":350,"height":200},"classes":[]},{"id":17027,"url":"https:\/\/prowebinhost.com\/anzu\/government-introduces-key-new-amendments-to-the-controversial-sovereignity-bill-following-public-outcry-and-strong-objection-from-bou\/","url_meta":{"origin":14857,"position":2},"title":"Government Introduces Key New Amendments To The Controversial Sovereignity Bill Following Public Outcry And Strong Objection From BoU","author":"UgandaUpdate","date":"April 30, 2026","format":false,"excerpt":"In a quick turn-around after public backlash and strong objection from the Bank of Uganda Governor , Michael Atingi-Ego, government through the Attorney General has now introduced major amendments to the controversial Sovereignity Bill exempting key stateholders and narrowing down on the broad proposed clauses with in the new law.\u2026","rel":"","context":"In "National News"","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7669,"url":"https:\/\/prowebinhost.com\/anzu\/hon-peter-lokeris-asks-financial-institutions-to-offer-loans-to-small-scale-miners\/","url_meta":{"origin":14857,"position":3},"title":"HON PETER LOKERIS ASKS FINANCIAL INSTITUTIONS TO OFFER LOANS TO SMALL SCALE MINERS","author":"UgandaUpdate","date":"December 15, 2022","format":false,"excerpt":"By Zulfah Namatovu The Minister of State for Minerals Hon Peter Lokeris has called upon all banking institutions to help miners\u2019 access financial help in terms of loans. He was speaking at the opening of a two day -4th annual ASM conference \u00a0and launch of the great lakes mining and\u2026","rel":"","context":"In "Minerals"","block_context":{"text":"Minerals","link":"https:\/\/prowebinhost.com\/anzu\/category\/minerals\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/HON-MIN-PETER-LOKERIS3-scaled.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/HON-MIN-PETER-LOKERIS3-scaled.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/HON-MIN-PETER-LOKERIS3-scaled.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/HON-MIN-PETER-LOKERIS3-scaled.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/12\/HON-MIN-PETER-LOKERIS3-scaled.jpg 3x"},"classes":[]},{"id":11623,"url":"https:\/\/prowebinhost.com\/anzu\/bank-of-uganda-suspends-license-of-pivot-payments\/","url_meta":{"origin":14857,"position":4},"title":"Bank of Uganda Suspends License of Pivot Payments","author":"UgandaUpdate","date":"March 5, 2024","format":false,"excerpt":"The Bank of Uganda has revoked the license of M\/S Pivot Payments as a Payment Service Provider and a Payment Systems Operator under Section 13 of The National Payment Systems Act, 2020, with immediate effective. in a statement issued by the central bank and signed by Deputy Governor of the\u2026","rel":"","context":"In "Finances"","block_context":{"text":"Finances","link":"https:\/\/prowebinhost.com\/anzu\/category\/finances\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/03\/R-2.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/03\/R-2.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/03\/R-2.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/03\/R-2.jpg 2x"},"classes":[]},{"id":15513,"url":"https:\/\/prowebinhost.com\/anzu\/absa-bank-uganda-convenes-industry-leaders-for-landmark-workshop-on-customers-data-privacy\/","url_meta":{"origin":14857,"position":5},"title":"Absa Bank Uganda Convenes Industry Leaders For Landmark Workshop On Customers Data Privacy","author":"UgandaUpdate","date":"September 25, 2025","format":false,"excerpt":"Absa Uganda has \u00a0hosted an industry-wide workshop focused on the critical importance of data privacy in the digital age. The event was held at the Golden Tulip Hotel in an effort to boost and uphold the highest standards of ethical banking and customer protection. Under the theme, \u201cData Privacy is\u2026","rel":"","context":"In "Banking Sector"","block_context":{"text":"Banking Sector","link":"https:\/\/prowebinhost.com\/anzu\/category\/banking-sector\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/1758732845520.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/1758732845520.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/1758732845520.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/09\/1758732845520.jpg 2x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/pc0aOV-3RD","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/14857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/comments?post=14857"}],"version-history":[{"count":2,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/14857\/revisions"}],"predecessor-version":[{"id":14860,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/posts\/14857\/revisions\/14860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media\/14858"}],"wp:attachment":[{"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/media?parent=14857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/categories?post=14857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prowebinhost.com\/anzu\/wp-json\/wp\/v2\/tags?post=14857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2025\/07\/ppp-1024x626.jpg\")
<\/figure>\n\n\n\n