Zambia Seeks to Attract More Green Investments
Minister of Green Economy and Environment says Zambia is seeking strong international partners to scale up green investments.
Mike Mposha said this when he addressed the joint sessions of the Global Green Growth Institute (GGGI)’s 13th Session of the Assembly and the 17th Session of the Council at GGGI Headquarters in Seoul, Korea.
Mr. Mposha stated that Zambia looks forward to strengthening its relationship with GGGI and other partner countries to help enhance green investments.
He added that employing innovative instruments such as green bonds and debt-for-nature swaps would support funding for renewable energy and biodiversity conservation.
“Zambia’s ability to strategically utilize climate finance and it’s significant nature-based endowments would be crucial in becoming a low-carbon and green economy,” Mr. Mposha noted.
He told the 48-member international grouping that Zambia is committed to utilizing it’s abundant resources to develop a low-carbon, resource -efficient, resilient and socially inclusive economy.
“Our goal is to foster growth that is profitable and environmentally and socially responsible,” he added.
He however noted with concern that despite Africa’s low contribution to greenhouse gas emissions, the Continent remains one of the most vulnerable to the adverse effects of climate change.
“Climate Change poses systematic risks to African economies, infrastructure, water and food systems, Public health, Agriculture and livestock, threatening to undo the Continent’s modest development gains,” Mr. Mposha stated.
Meanwhile GGGI President and Chairperson, Ban Ki Moon, commended Mr. Mposha for conveying Zambia’s strong commitment to champion the interests of the African Continent.
“While working as United Nations Secretary General, I repeatedly said that without addressing 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,” Mr. Ban asserted.
The Global Green Growth Institute, is a treaty based international organization formed in 2012, and it is dedicated to promoting sustainable economic growth in developing countries as well as emerging economies.
It has 48 member states and is headquartered in Seoul, Korea.
Zambia joined the GGGI in 2023.
