Corporate entities urged to support green growth

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Corporate entities in Uganda have been urged to prioritize environmental conservation in their activities to bolster the country’s efforts towards tackling climate change and natural disasters.

“As corporate entities, we cannot exist well without the community being well. The community cannot be well if the environment is not well,” said Patrick Kimathi, the managing director of financial firm UAP Old Mutual.

He was speaking during the launch of a greening programme at Kisaasi Muslim Secondary School in Kampala on Thursday (October 31).

Uganda is facing high levels of environmental degradation, characterized by deforestation and soil erosion.

Corporate entities in Uganda have been urged to prioritize environmental conservation. (Photo by John Masaba)

Statistics from the Uganda Economic Update by the World Bank Group in 2021 revealed that over 41 per cent of Uganda’s land was degraded, with the country losing approximately 2.6 per cent of its forest cover each year – one of the highest rates globally.

The report noted these environmental challenges are estimated to cost Uganda over $9 million (about shsh32.9 billion) in lost ecosystem services annually.

It also said climate risks had the potential to compound the problem, with projected economic losses estimated at between $2.3 million (about sh8.4 billion) and $4.2 billion (about sh15.3 billion) by 2025 due to reduced agricultural productivity, water shortages, and diminished exports.

At Kisaasi Muslim SS, Kimathi committed to planting a total of 10,000 trees across 10 schools in Uganda by engaging approximately 50,000 students in conservation activities as part of their corporate social responsibility. 

The programme is set to be executed through a partnership with My Tree Initiative, a local non-governmental organization.

“We expect to focus on planting indigenous, medicinal, and fruit trees to restore degraded land and contribute to the ecosystem's sustainability,” he said, adding that nature is a critical enabler of the economy, and conserving it is integral to their corporate strategy.

“As a financial institution, we are committed to incorporating sustainable practices that not only protect Uganda’s natural resources but also ensure long-term economic growth.”

The latest initiative is part of a long-term environmental conservation campaign that has seen the company contribute to planting 20,000 trees in Mabira Forest and the Albertine region and donating nearly 40,000 seedlings over the last three years. 

The managing director said these actions align with the government and Africa’s broader strategy to address the exposure to nature-related risks.

Enjer Ashiraf, the executive director of My Tree Initiative, said they involve school children, owing to the transformative power of the youth.

“When students actively participate in planting and caring for trees, they learn first-hand the importance of environmental stewardship. Each tree planted represents a commitment to biodiversity, soil health, and a sustainable future for Uganda,” he said.