Uganda's Ministry of Finance, Planning and Economic Development convened financial institutions, businesses, capital market participants and development partners to address barriers to private climate investment. Uganda requires USD 28.1 billion for climate action by 2030, with 86% expected from private and other international sources, while unaddressed climate risks could reduce gross domestic product by up to 7% by 2040. Private sector representatives highlighted the lack of financial incentives or credit recognition for companies that have invested in cleaner energy, lower discharges and cleaner production. Participants agreed to pursue a CEO declaration, establish a private sector climate finance taskforce, and identify priority financing opportunities and regulatory barriers for further action.

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