• Latest
Banks Told to Fund Projects that Reduce Carbon Emissions

Banks Told to Fund Projects that Reduce Carbon Emissions

2 years ago
Automated Electronic Penalty System Goes Live Across Uganda

Automated Electronic Penalty System Goes Live Across Uganda

8 hours ago
Brig Gen Keita Assumes Command of Joint Staff Training and Doctrine

Brig Gen Keita Assumes Command of Joint Staff Training and Doctrine

8 hours ago
National IDs Vital to Curb Voter Fraud – Museveni

National IDs Vital to Curb Voter Fraud – Museveni

8 hours ago
Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

1 day ago
Uganda, Kenya Forge Stronger Cross-Border Ties

Uganda, Kenya Forge Stronger Cross-Border Ties

1 day ago
Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

1 day ago
SoftPower News
Saturday, June 7, 2025
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home Business

Banks Told to Fund Projects that Reduce Carbon Emissions

by Muhamadi Byemboijana
December 20, 2022
Banks Told to Fund Projects that Reduce Carbon Emissions
3
VIEWS

The Uganda Institute of Banking and Financial Services has called on commercial banks to increase funding for projects that reduce carbon emissions.

Goretti Masadde, the chief executive officer of the banking institute, noted that a cluster of the country’s biggest lenders is pumping billions into companies with ties to deforestation risks and other unhealthy investments.

Related Stories

Automated Electronic Penalty System Goes Live Across Uganda

Brig Gen Keita Assumes Command of Joint Staff Training and Doctrine

National IDs Vital to Curb Voter Fraud – Museveni

Massade made the remarks at the 3rd Edition of the Annual Banking and Financial Services Awareness month, a grand public awareness session that brought together providers and users of banking and financial services.

This year’s edition was held under the theme: “Start Small Grow Big, Be GreenSmart”.

“Banks should be funding projects that reduce carbon emissions but not those that are escalating it. Financial services can do a lot to either mitigate, adapt or even promote biodiversity conservation. We are telling them to increasingly make more green finance available and accessible to fund green projects such as wind and solar farms, and to invest in businesses themselves to help them become greener,” Masadde told reporters.

Green financing is a loan or investment that supports environmentally-friendly activity, such as purchasing environmentally-friendly goods and services or building environmentally-friendly infrastructure.

Masadde the institute would launch a business development services support to ensure that borrowers are trained on green priority areas.

Mona Muguma Ssebuliba, the CEO aBi Finance, called on financial institutions to appreciate the magnitude and risks associated with climate change.

Mugume said the institution has launched a dedicated green investment fund to help mitigate climate change and support biodiversity conservation.

She revealed that green financing is critical in supporting the transition to a low-carbon economy.

She observed that globally, Uganda is the 12th most vulnerable and the 49th least prepared out of 195 countries, to deal with vagaries of climate change.

The Green Finance Exhibition featured enterprises created out of a need to respond to a sustainable theme – Sustainable finance, forests, renewable energy, recycled items, green building, and gender inclusiveness showcasing their latest products and services, technologies and best practices developed through environmental sustainability.

Tags: BanksCarbon EmissionsfundsSoftPower NewsTop News UgandaUganda

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.

Recent Stories

Automated Electronic Penalty System Goes Live Across Uganda

Brig Gen Keita Assumes Command of Joint Staff Training and Doctrine

National IDs Vital to Curb Voter Fraud – Museveni

Museveni Touts Calm Security, Regional Cooperation in State of Nation Address

Uganda, Kenya Forge Stronger Cross-Border Ties

Venezuelan Envoy Seeks Stronger BRICS Ties with Uganda

Visit UBOS Website
SoftPower News Logo

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

error: Content is protected
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News