Uganda has called for stronger integration of climate action into global economic planning, arguing that Africa can transform climate risks into major opportunities for growth, jobs, and competitiveness.
Speaking during the 15th Ministerial Meeting of the Coalition of Finance Ministers for Climate Action at the IMF/World Bank Spring Meetings 2026 in Washington D.C., Minister of State for Finance (General Duties) Henry Musasizi said the continent is uniquely positioned to benefit from the global green transition despite facing severe climate risks.
“While our continent faces some of the highest climate risks in the world, it is also uniquely positioned to capture the economic opportunities of the green transition,” Musasizi said. “Our vast agricultural potential can make us a breadbasket for the world, while our exceptional solar and renewable energy resources position us as a global powerhouse for clean energy.”
Uganda currently serves as co-chair of the Coalition of Finance Ministers for Climate Action, a platform that brings together countries seeking to align fiscal and economic policies with climate resilience and low-carbon development.
Musasizi said placing climate action at the centre of economic planning is both urgent and strategic, noting that adaptation and mitigation measures can drive inclusive and resilient growth if well implemented.
Citing emerging research, he noted that every $1 invested in climate adaptation can generate up to $10 in economic benefits, while also reducing long-term GDP losses associated with climate shocks such as droughts, floods, and other extreme weather events.
He called for greater alignment between macroeconomic policy, fiscal planning, investment frameworks, and skills development to support emerging green economy sectors.
“These include clean energy and resilient infrastructure, critical minerals and value-added manufacturing, and climate-smart agriculture,” he said.
Musasizi challenged fellow finance ministers to ensure that climate commitments translate into measurable economic outcomes.
“How are we translating climate ambition into tangible economic outcomes? How are we balancing short-term macroeconomic pressures with long-term resilience? And how can we scale up investment to unlock growth and jobs?” he asked.
He emphasized that Africa’s development agenda must position climate action not as a cost, but as a driver of transformation capable of unlocking new industries and expanding employment opportunities.
The meeting underscored growing global recognition that climate finance and sustainable development are increasingly central to economic stability, particularly for developing economies seeking to balance growth with environmental resilience.
