Zambia seeks international partnerships to enhance green investments

Zambia is actively seeking strong international partnerships to enhance green investments in the country, Green Economy and Environment Minister, Mike Mposha, announced to the Global Green Growth Institute (GGGI) Member States.

Mposha highlighted the importance of innovative funding instruments such as green bonds and debt-for-nature swaps to finance renewable energy and biodiversity conservation efforts.

He stated that Zambia’s ability to strategically leverage climate finance, alongside its rich nature-based resources, was crucial for transitioning to a low-carbon and green economy.

The minister addressed the joint sessions of GGGI’s 13th Assembly and 17th Council at the GGGI Headquarters in Seoul, Korea.

“Zambia looks forward to strengthening our relationship with GGGI and other member and partner countries to help us scale up green investments. Our goal is to foster growth that is profitable, and environmentally and socially responsible,” Mposha said in a statement issued in Lusaka on Friday.

Despite the potential for green investment, Mposha expressed concern that Africa, despite its minimal contribution to global greenhouse gas emissions, remains highly vulnerable to the impacts of climate change.

He warned that climate change posed systemic risks to African economies, infrastructure, water and food systems, public health, agriculture and livelihoods, threatening to reverse the continent’s modest development gains.

GGGI President and Chairperson, Ban Ki-moon, expressed gratitude to Mposha for conveying Zambia’s commitment to championing Africa’s interests.

“While working as Secretary-General of the United Nations, I repeatedly said that without addressing the challenges of Africa, we will never be able to declare that we are living in a sustainable world. This is what I believe and what most member states believe and we have to do much more for African development,” Ki-Moon added.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.