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The government has announced that the process of formulating a legal framework through the Climate Change and Green Economy Bill has reached an advanced stage.
Minister of Green Economy and Environment, Mike Mposha, also urged organizations in Zambia to embrace sustainability issues in their strategic planning during the Sustainability Reporting Launch and Capacity Building Workshop, held at Mulungushi International Conference Centre in Lusaka on Monday.
The speech was read on his behalf by Ministry Permanent Secretary Dr. Douty Chibamba.
Mposha stated the urgency of addressing climate change, noting that the nation was grappling with the severe effects of drought.
“We find ourselves in an era where climate change and sustainability challenges are reshaping the future of businesses and economies worldwide. It is, therefore, imperative that organizations in Zambia embrace sustainability issues in their strategic planning,” Mposha stated.
He recognised the critical role of sustainable practices and sustainability reporting in shaping business strategies and meeting evolving regulatory requirements.
Mposha highlighted that environmental stewardship was a key pillar in the country’s economic growth, as outlined in the Eighth National Development Plan (8NDP).
“Infact any business that does not embrace sustainability reporting in its business operations would be doomed to fail as every credible organization now is eager to understand how you are handling these issues, including your carbon footprint,” he said.
Mposha noted that the government has established an enabling policy framework through the National Policy on Climate Change, the National Adaptation Plan (NAP), the Nationally Determined Contribution (NDC), and the Green Growth Strategy.
“The NDC implementation framework articulates Zambia’s commitment to reducing Greenhouse Gas Emissions and adapting to climate change. We are also spearheading work on the Green Bonds through the Biodiversity Finance Initiative (BIOFIN), together with the United Nations Development Programme,” he said.
He stated that the National Green Growth Strategy outlined a course for sustainable and inclusive growth across four key areas: resilient and climate-compatible growth, improved resource efficiency, strengthened natural capital, and enhanced inclusivity.
Mposha said these measures provided a solid foundation for businesses to align their operations with sustainable practices, including sustainability reporting and to actively contribute to Zambia’s environmental objectives.
“Beyond fulfilling regulatory obligations, sustainability reporting serves as a catalyst for organizations to evaluate and adapt to the realities of climate change and associated policies, such as the NDC implementation framework and the National Green Growth Strategy.
“It unlocks a wealth of opportunities that extend beyond compliance, including access to green and sustainable finance, participation in carbon markets, and the alignment of climate-positive actions with business outcomes,” he said.
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