Network Launches To Spur Green Investments In East Africa

The launch of IGEN-EA comes at the time when climate-focused investment options are gaining popularity globally.
23 May 2021 15:33
Launch of Inclusive green Economy Network East Africa

Audio 2

A newly launched Inclusive Green Economy Network East Africa (IGEN-EA) network hopes to says there is need for green investments in the region the face of rising global temperatures and declining biodiversity.

The network officially launched at the end of the week, is to be hosted in Uganda by the Africa Institute For Energy Governance (AFIEGO). Unlike the past where AFIEGO has partnered with civil society in the push for environmental protection and governance, AFIEGO Executive Director, Dickens Kamugisha they have decided to partner with non-civil society actors interested in green growth path to development. 

///Cue In “IGEN is actually part of the……

Cue Out……. suffering more than us”///  

An inclusive green economy (IGE) improves human well-being and builds social equity while reducing environmental risks and scarcities.

It is a key strategy to achieve shared prosperity within the planetary boundaries. In an inclusive green economy, growth in income and employment is driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services.

Over the past decade, more and more governments and partners have begun to apply principles of green economy in planning policy reforms, regulation changes and strategic investments.United Nations Environment launched the Green Economy Initiative (GEI) in 2008, which consisted of global research and country-level assistance encouraging policymakers to support environmental investments within the context of sustainable development.

Thanks to this initiative and the work of other agencies, “green economy in the context of sustainable development and poverty eradication” was placed on the 2012 Rio+20 agenda and was acknowledged as a tool for achieving sustainable development.

Kamugisha says they will focus on attracting investments to small-scale organic agriculture, fisheries, tourism and clean energy solution like solar and others.

///Cue In “ If we say Cue Out…….

and that is what we are going to be focusing on”/////

According to Byamugisha, that the decision to push for green investment is out of the fact that people being targeted against environmental degradation need to feel and realize the benefits.

Kamugisha says currently many people continue to destroy wetlands and forests for rice or sugarcane cultivation because they are not seeing alternative to the resources they are destroying.

The launch of IGEN-EA comes at the time when climate-focused investment options are gaining popularity globally.

One of those is the Green for Growth Fund (GGF)- an impact investment fund that mitigates climate change and promotes sustainable economic growth, primarily by investing in measures that reduce energy consumption, resource use and CO2 emissions.