Climate Finance Mobilization in Uganda: The Most Viable Option - Research Paper

The government of Uganda will in the next 15 years require ‘new and additional’ finances to meet its growing cost of addressing climate change. Due to the over dependence on natural resources to meet the country’s development aspirations, Uganda remains very vulnerable to the impacts of climate change. The 2019 German Watch’s Global Climate Risk Index ranked the country in the 85th position out of 149 in 2017. The cost of inaction over the period 2010-2050 has been estimated between USD 273 - 437 billion. Positively, the country put in place enabling environment to address climate change – the National Climate Change Policy and the Implementation Strategy (2015) and the Nationally Determined Contributions (NDCs) among others. In order to foster implementation of policy and strategies related to climate change, the country envisages to progressively commit 30 percent of national resources whereas 70 percent is expected from international sources. However, no explicit strategy is in place to guide the mobilization of the required sources. This report seeks to contribute to informing the mobilization of climate finance in light of the climate change impacts across all sectors. The report highlights the operating policy, legal and institutional framework on public climate finance, makes reference to country case studies on climate finance mobilization, proposes various options for climate finance mobilization based on stakeholders consulted and ranks the most efficient option.