BOU, IMF to host climate change workshop
Jan 21, 2025
The discussion will center on the evolving monetary policy environment in sub-Saharan Africa, with a focus on how central banks are navigating the challenges posed by climate change.

The Bank of Uganda (BOU), in partnership with the International Monetary Fund (IMF), is set to co-host a three-day workshop on climate change and monetary policy, starting tomorrow (Wednesday, January 22).

Ali Twaha
Journalist @New Vision
KAMPALA - The Bank of Uganda (BOU), in partnership with the International Monetary Fund (IMF), is set to co-host a three-day workshop on climate change and monetary policy, starting tomorrow (Wednesday, January 22).
The conference, which will take in Kampala will kick off with a high-level panel discussion titled “Climate Change and Monetary Policy: A Conversation with Central Bankers.”
The panel will bring together esteemed central bankers, including Governor Caroline Abel of the Bank of Seychelles, Governor Aivo Andrianarivelo of the Central Bank of Madagascar, Deputy Governor Fundi Tshazibana of the South African Reserve Bank, and Deputy Governor Michael Atingi-Ego of the Bank of Uganda.
The discussion will center on the evolving monetary policy environment in sub-Saharan Africa, with a focus on how central banks are navigating the challenges posed by climate change.
Uganda has been at the forefront of addressing climate change. In March 2023, the BOU officially launched its sustainability certification process under the Sustainability Standards and Certification Initiative by the European Organization for Sustainable Development.
The sector regulator is integrating ESG principles and sustainability into the operations of supervised financial institutions by raising awareness among them, establishing a robust climate risk policy, pursuing, and promoting sustainability certification.
Changing climates are already affecting businesses, societies and economies in complex ways. According to Africa Development Bank, Western and Eastern Africa could lose up to about 15% of their gross domestic product by 2050 due to climate change.
The report suggests that global efforts towards a low-emissions, low-warming scenario as expressed in the Paris Agreement’s long-term goals, could avert a large part of the most serious macroeconomic and development consequences for Africa.
“From a central bank perspective, climate change has a direct impact on our price stability mandate through its effect on inflation and also on the financial sector stability through the risks and the vulnerability that it creates,” Michael Atingi-Ego, deputy governor at BOU said recently.
The workshop is expected to provide valuable insights into the intersection of climate change and monetary policy, as well as potential strategies for central banks to mitigate the effects of climate change.