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Uganda’s wealth beyond GDP: Safeguarding natural capital for tenfold growth
Uganda’s strong legal and policy framework for environmental management must be matched with effective implementation.
Peter Babyenda.
By: Admin ., Journalist @New Vision
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OPINION
By Peter Babyenda
Uganda stands at a critical juncture in its pursuit of growing the economy to $500b by 2040. There is an urgent need of integrating natural capital into our planning, budgeting and investment frameworks.
Our forests, wetlands, rivers, lakes, soils and biodiversity are not merely ecological endowments; they are also strategic national assets that underpin livelihoods, food security, industrialisation and climate resilience. Yet, their value remains under-recognised in conventional economic accounts. Natural capital accounting provides the evidence base to quantify these resources, making their contribution visible, and enabling policymakers to balance infrastructure development with environmental conservation.
To achieve this; the academia must continue bridging the gap between research and policy. At Makerere University, and particularly the College of Business and Management Sciences (CoBAMS), we are committed to conducting policy-oriented research, collaborating with ministries and agencies in building capacity through specialised training in natural capital accounting, inclusive green economy and environmental valuation. Research must not only end in academic journals, but it must also actively shape national policy and development planning.
Second, Uganda’s strong legal and policy framework for environmental management must be matched with effective implementation. This requires strengthening institutional capacity, increasing financial allocations, recruiting technical staff and enhancing co-ordination among agencies responsible for forests, wetlands, water and energy. Environmental protection is not optional; it is a constitutional responsibility shared by the Government and citizens alike.
Third, natural capital accounting must be institutionalised within our development planning. Already, it is informing the National Development Plan, the Tenfold Growth Strategy and fiscal policy development. Expanding accounts to include wetlands, rivers, lakes, pollination, soil quality and ecosystem health will provide comprehensive data to guide stronger policies and widen stakeholder participation.
To achieve this; the academia must continue bridging the gap between research and policy. At Makerere University, and particularly the College of Business and Management Sciences (CoBAMS), we are committed to conducting policy-oriented research, collaborating with ministries and agencies in building capacity through specialised training in natural capital accounting, inclusive green economy and environmental valuation. Research must not only end in academic journals, but it must also actively shape national policy and development planning.
Second, Uganda’s strong legal and policy framework for environmental management must be matched with effective implementation. This requires strengthening institutional capacity, increasing financial allocations, recruiting technical staff and enhancing co-ordination among agencies responsible for forests, wetlands, water and energy. Environmental protection is not optional; it is a constitutional responsibility shared by the Government and citizens alike.
Third, natural capital accounting must be institutionalised within our development planning. Already, it is informing the National Development Plan, the Tenfold Growth Strategy and fiscal policy development. Expanding accounts to include wetlands, rivers, lakes, pollination, soil quality and ecosystem health will provide comprehensive data to guide stronger policies and widen stakeholder participation.
Collective responsibility
Finally, there is a need for innovative financing mechanisms such as debt-for-climate swaps, the importance of gender and behavioural considerations in clean-cooking technologies, and the macroeconomic benefits of transitioning from charcoal and firewood to cleaner energy sources. These interventions not only reduce pressure on forests but also advance Uganda’s climate commitments.
Environmental sustainability and economic growth must be pursued simultaneously through evidence based planning and integrated policy implementation. Stronger institutional co-ordination, adequate financing and regular data updates are essential. Above all, collaboration among the Government, academia, development partners and communities will determine whether Uganda secures a resilient and prosperous future.
As Ugandans, we must recognise that natural capital is not a peripheral concern, but it is the foundation of our development. Let us act decisively to safeguard it while benefiting from it in terms of jobs and economic growth.
The writer is the CoBAMS policy engagement co-ordinator and lecturer at the School of Economics, Makerere University
Finally, there is a need for innovative financing mechanisms such as debt-for-climate swaps, the importance of gender and behavioural considerations in clean-cooking technologies, and the macroeconomic benefits of transitioning from charcoal and firewood to cleaner energy sources. These interventions not only reduce pressure on forests but also advance Uganda’s climate commitments.
Environmental sustainability and economic growth must be pursued simultaneously through evidence based planning and integrated policy implementation. Stronger institutional co-ordination, adequate financing and regular data updates are essential. Above all, collaboration among the Government, academia, development partners and communities will determine whether Uganda secures a resilient and prosperous future.
As Ugandans, we must recognise that natural capital is not a peripheral concern, but it is the foundation of our development. Let us act decisively to safeguard it while benefiting from it in terms of jobs and economic growth.
The writer is the CoBAMS policy engagement co-ordinator and lecturer at the School of Economics, Makerere University