Zimbabwe has committed itself to develop a sound framework aimed at promoting green financing to ensure sustainable socio-economic transformation in line with the Paris Climate Agreement.
Zimbabwe’s first green investments roundtable meeting being held in Victoria Falls has seen renewed determination by local economic actors and government officials to urgently harness green investments to meet the country’s developmental goals.
Secretary in the Office of the President and Cabinet and Chairperson of the high level committee on climate change, Ambassador Boniface Chidyausiku said the government is keen to promote green investments in the country as part of efforts to meet commitments under the Paris Agreement.
The Permanent Secretary in the Ministry of Environment, Water and Climate, Mr Prince Mupaziriho is confident that the country will learn from regional and international examples to develop a sound green bond framework to support socio-economic transformation.
Green bonds were created to fund projects that have positive environmental and climate benefits.
The green bond market has surged to $72 billion in 2016, according to the climate bond initiative.
The green investments roundtable meeting has attracted critical institutions and development partners such as the World Bank, United Nations, Infrastructure Development Bank of Zimbabwe (IDBZ) and the African Development Bank (ADB).