FSD Ethiopia Kicks Off First Annual Climate Finance Summit: A Key Step Towards Building a Green, Resilient Economy
Addis Ababa, Ethiopia – [December 19, 2024] – Today, FSD Ethiopia officially launched its First Annual Climate Finance Summit, bringing together government officials, private sector leaders, financial institutions, and international partners to discuss innovative climate finance solutions and accelerate the country’s efforts to tackle climate change.
The summit, organized by FSD Ethiopia, serves as a critical platform to explore the financing mechanisms required to achieve Ethiopia’s ambitious climate resilience goals. With the country already grappling with the impacts of climate change—including erratic rainfall, droughts, and rising temperatures—the summit aims to foster discussions on how to mobilize resources for climate action, identify financing gaps, and build partnerships for a sustainable future.
The opening session was graced by H.E. Ahmed Shide, Minister of Finance, who emphasized Ethiopia’s commitment to a green and resilient economy.
One of the key highlights of the summit is the focus on Ethiopia’s climate finance strategy, which includes reducing greenhouse gas emissions by 68.8 percent by 2030, as outlined in the country’s updated Nationally Determined Contributions (NDCs). Additionally, the summit seeks to harness the opportunities presented by COP29, where global leaders committed to scaling up climate finance to help developing nations mitigate and adapt to climate change.
“The challenges we face in Ethiopia are clear and undeniable. From devastating droughts to erratic rainfall patterns, our communities are bearing the brunt of the climate crisis,” said Hikmet Abdella, CEO of FSD Ethiopia. ” Despite these challenges, Ethiopia remains steadfast in its commitment to becoming a climate-resilient, green economy by 2030. However, addressing significant gaps in the climate finance landscape is crucial to realizing this vision. This summit is an important opportunity for all stakeholders to come together and chart a clear path forward for climate finance in Ethiopia, with a focus on inclusivity and sustainability,” the CEO added.
The one-day summit will feature panel discussions and interactive sessions with industry experts, including government officials, financial leaders, and representatives from international organizations. Topics will cover a wide range of issues, from innovative financing mechanisms to the role of the private sector in driving climate action.
The discussions will also explore the role of gender-responsive climate finance and how marginalized communities, particularly women and youth, can be empowered to participate in and benefit from climate resilience initiatives. The summit is expected to result in concrete outcomes, including new partnerships, and policy recommendations, all aimed at accelerating Ethiopia’s transition to a low-carbon and climateresilient economy
About FSD Ethiopia: FSD Ethiopia (Financial Sector Deepening Ethiopia) is anon-profit organization established to promote financial sector development in Ethiopia. It works towards transforming Ethiopia’s financial landscape by advancing financial inclusion, capital market development, and climate finance solutions to support sustainable economic growth.
For media inquiries,
please contact:
Samson Berhane Communications and Advocacy Specialist FSD Ethiopia
+251-937-447-258
samson@fsdethiopia.org
