UNEP: Policymakers can create proper climate for pro-planet investments

20 / 08 / 2023

By Marwa Nassar - -

A report – issued by the United Nations Environment Development Program (UNEP) – showed that policymakers can create an enabling environment for investments that address the triple planetary crisis by adopting robust regulatory frameworks, investing in research, innovation, and education, as well as promoting public-private partnerships and fostering collaboration across governments, businesses and local communities, Elizabeth Mrema, UNEP Deputy Executive Director, said.

Africa’s private sector can bolster its green agenda and drive increased GDP, higher income per capita, create tens of millions of jobs, and foster collaboration between governments, businesses and local communities, according to the Africa Environment Outlook for Business.

The report recommends businesses adopt a holistic approach anchored in profit, people, planet, prosperity, peace, and partnerships.

The report showcased a range of success stories of green ventures today, as well as data on the potential for growth across sectors.

The report noted unique challenges to many African economies, including limited investments, institutional capacity, scalability, high transaction costs, effect transportation, and access to- and affordability of electricity. Reducing upfront costs and promoting energy-efficient solutions, and innovative financing mechanisms must all be prioritized by policymakers.

“Africa faces not just incredible challenges on climate change, nature loss, and pollution, but has a uniquely dynamic economic landscape, youthful demographic, and opportunities for decarbonization, digital transformation and for leveraging an environmental, social and governance (ESG) framework for sustainability in the business sector,” said Rose Mwebaza, UNEP Director and Regional Representative for Africa. “With this new report, we hope to inspire African entrepreneurs and businesses, especially audacious first movers, to engage in green growth and contribute to sustainable development goals.”