Government says there is need for increased accessibility to climate financing as climate change is now a direct threat to Zambia’s economic stability, food security and long-term development.

Secretary to the Treasury Felix Nkulukusa, explains that the country has successfully raised a total of US$ 150.2 million through the issuance of green bonds following the development of Forest Carbon Regulations and Green Bond Guidelines.

He was speaking in a speech read for him by Permanent Secretary for Economic Management and Finance at the Ministry of Finance and National Planning, Mulele Mulele, during the launch of the Climate Finance Conference in Lusaka.

Mr Nkulukusa explained that the green bond issuances form part of Zambia’s broader strategy to advance sustainable development through green financing and investments in climate and weather-related services.

“Over the years, the government’ sustainable development agenda has included advancing green financing and investing in weather and climate services,” he said.

And Acting Permanent Secretary in the Ministry of Green Economy and Environment Rainford Simumbwe, said Zambia’s credibility in climate action will depend on its ability to move beyond policy commitments to tangible results through strengthened systems, coordinated implementation and measurable progress.

Meanwhile, British Deputy High Commissioner to Zambia, Simon ten Brinke-Jackson commended Zambia’s ambitious climate agenda, which includes transitioning to a green economy, achieving climate resilience, and becoming a prosperous middle-income country by 2030.