Zambia Poised for Green Investments
Minister of Green Economy and Environment, Hon. Eng. Collins Nzovu MP, affirmed Zambia’s readiness to embrace green investments during the Africa Green Economy Summit’s opening ceremony.
In his address, Hon. Nzovu highlighted Zambia’s commitment to fostering green growth, underlining the establishment of the Ministry of Green Economy and Environment in September 2021 as a pivotal step towards this endeavor.
He emphasized that the ministry’s primary objective is to spearhead Zambia’s transition to a green growth pathway, promoting sustainable development that leaves no one behind.
Acknowledging the environmental costs associated with Zambia’s economic growth, including high deforestation rates and vulnerability to climate change impacts, Hon. Nzovu stressed the need for a paradigm shift towards inclusive and environmentally sustainable development.
He outlined Zambia’s National Green Growth Strategy, slated for launch next month, as a blueprint for attracting investments and creating an enabling environment for green initiatives.
The strategy focuses on resilient and climate-compatible growth, enhanced resource efficiency, protection of natural capital, and improved inclusivity.
Furthermore, Hon. Nzovu delineated various investment opportunities in green finance, including climate-smart technologies, resilient irrigation infrastructure, ecotourism, and renewable energy projects.
He highlighted Zambia’s efforts to engage in carbon markets under the Paris Agreement, aiming to attract additional finance for green projects.
In support of green growth, Zambia is strengthening its policy and regulatory framework, mobilizing financial resources, enhancing human and technical capacity, and fostering research, technology, and innovation.
Hon. Nzovu concluded by reaffirming Zambia’s commitment to sustainable development and its readiness to seize opportunities for green investments, signaling a promising trajectory towards a more environmentally conscious and inclusive economy.
