The Global Green Growth Institute (GGGI), in partnership with the Ethiopian Ministry of Planning and Development, convened a workshop on “Private Sector Engagement in the Climate Agenda”.  The workshop was held as a part of Ethiopia’s Readiness to Climate action initiative with Readiness and Preparatory funding support from the Green Climate Fund (GCF). With over 100 participants from the private sector, the event aimed to boost private sector knowledge of climate finance mechanisms, opportunities for green business development, and enhanced networking opportunities with potential partners.  

The event highlighted the crucial role of the Ethiopian private sector in translating climate strategies into concrete action to unlock international and domestic climate finance opportunities.

Minister of Ministry of Planning and Development, H.E. Dr. Fitsum Assefa emphasized,

The government prioritizes climate-resilient infrastructure and green projects. We expect the private sector to actively support Ethiopia’s climate adaptation and mitigation efforts, and we are committed to creating an enabling environment for their investment.  

Boosting awareness among private sector stakeholders about the impacts of climate change, opportunities for climate-resilient business practices, and the crucial role they play in mitigation and adaptation was key themes discussed. 

Trillions of dollars in investments are needed to address the climate crisis, stated Mr. Okechukwu Daniel Ogbonnaya, GGGI Ethiopia Country Representative. Public funding alone is insufficient, making the private sector a critical partner in driving green growth. This workshop is vital for increasing awareness and identifying actionable steps for private sector engagement, he added. The expected outcome is a strengthened understanding of climate finance opportunities and a preliminary action plan for increased private sector involvement in Ethiopia’s climate agenda. 

The workshop is central to GGGI’s broader program of supporting Ethiopia in achieving its climate goals through private sector engagement and enhanced access to climate finance.  The program aligns with Ethiopia’s Nationally Determined Contributions (NDCs) and Long-Term Low Emission Development Strategies (LT-LEDS), which build upon the country’s Climate Resilient Green Economy (CRGE) Strategy.  GGGI has been a key partner in developing these strategies and is committed to assisting Ethiopia in mobilizing the necessary resources for their implementation. 

Participants worked together on the development of a preliminary action plan to enhance private sector engagement in Ethiopia’s climate agenda.  Next steps will involve refining this plan through further consultations and developing concrete strategies for implementation.  GGGI will continue to work closely with the Ethiopian government and private sector partners to mobilize climate finance and drive green growth in the country. 

Source: GGGI Ethiopia