Kampala, Uganda – November 4–5, 2024 – The Ministry of Finance, Planning, and Economic Development (MoFPED) Climate Finance Unit (CFU), in collaboration with the Global Green Growth Institute (GGGI) and with support from the European Union, successfully organized a capacity-building workshop on Uganda’s National Green Taxonomy. The two-day workshop aimed to enhance stakeholders’ knowledge and equip them with the relevant tools for the taxonomy’s effective implementation.

Uganda is developing its National Green Taxonomy which is a vital framework designed to categorize sustainable investments, aligning with both local and international environmental goals. Adapted from global standards like the EU Taxonomy for Sustainable Activities, Uganda’s taxonomy integrates its specific national objectives, including its Nationally Determined Contributions (NDCs). This tool enables financial institutions, policymakers, and investors to allocate resources toward initiatives that foster climate resilience, biodiversity preservation, and sustainable development. It also promotes transparency and accountability by defining clear criteria for identifying projects as “green” or “transitional.”

The workshop brought together over 30 participants, including representatives from government ministries, financial institutions, private sector organizations, and civil society. The interactive sessions explored how the taxonomy aligns with Uganda’s goals of improving access to climate finance and offered practical experience with actual case studies, aiding stakeholders in integrating the taxonomy into their operations.

A key outcome of the workshop was the development of a collaborative roadmap for implementing the taxonomy and emphasis was placed on fostering strong partnerships among government bodies, financial institutions, and development partners. Additionally, participants gained practical knowledge of the taxonomy’s structure and application, including sector-specific guidelines to identify environmentally sustainable investments.

Moving forward, to ensure the successful implementation of the taxonomy across the country, a comprehensive awareness campaign will be launched. Technical guidelines will be developed to provide clear and actionable steps for compliance and integration. Additionally, continuous training programs will be conducted to build capacity and enhance understanding of the taxonomy’s objectives. By leveraging this framework, MoFPED’s Climate Finance Unit aims to design and coordinate climate finance projects, mobilize resources, and foster cross-sector collaboration, hence positioning Uganda as a pioneer in eco-friendly financing, guaranteeing that climate adaptability and sustainability are core priorities in its development plan.

GGGI remains committed to supporting Uganda’s transition toward a sustainable future. This taxonomy is set to play a pivotal role in attracting climate-resilient investments, addressing environmental challenges, and achieving long-term sustainable growth. Initiatives like this, will not only bring Uganda closer to meeting its climate goals but will also allow it to emerge as a regional leader in promoting green development.