One of the most affected sectors of climate change in Uganda is Agriculture. It is reliant on predictable seasonal activities, but climate change is disrupting these patterns, causing problems for farmers and damaging the country's economy. How can we assist Uganda in addressing these challenges?
Uganda's environmental, social, and governance (ESG) news has recently focused on the country's efforts to combat climate change and promote sustainable development, which is one core focus of Monetix to help Uganda achieve the country's goal. In fact, in the final quarter of 2022, the Monetix.io team, including CEO Patrick Prinz, CFA, Samuel Hieber, CFA, Swiss CPA, the board advisor, and Crescenda Babiera, assigned to the business development, traveled to Uganda to engage with local partners, entrepreneurs, and impact leaders. This visit allowed the team to reaffirm Monetix's commitment to supporting the United Nations' Sustainable Development Goals, specifically SDGs #1- No Poverty, #5- Gender Equality, #6 - Clean Water & Sanitation, #8 - Decent Work & Economic Growth, #9 - Industry, Innovation & Infrastructure, and #10 - Reduced Inequalities, through impact investing. (5 Tips On How To Start Impact Investing In Africa)
On the other hand, one significant development is the Uganda Green Growth Development Strategy (UGGDS), to achieve Uganda Vision 2040. The UGGDS is a government-led initiative aiming to accelerate the transition to a green economy in Uganda, focusing on improving energy efficiency, conserving natural resources, and promoting sustainable agriculture and tourism.
In addition to the UGGDS, Uganda has been progressing in the renewable energy sector. The country has set a target of generating at least 30% of its electricity from renewable sources by 2030. It has been increasing its installed capacity of solar, wind, and hydroelectric power in recent years. Another area of focus in Uganda's ESG efforts has been improving social and governance practices. The government has implemented several initiatives to promote gender equality, including laws against gender-based violence and policies to increase the representation of women in leadership roles.
Uganda's efforts to address environmental, social and governance issues are helping the country to achieve its goal of becoming a more sustainable and inclusive society.