Cop15 / Green Business Forum: Ivorian Private Sector Invites to Capture Resources for Climate Finance

As part of Cop15, which opened on 9 May 2022 at the Sofitel Abidjan Hotel Ivoire, a business forum on climate finance was held on Tuesday under the chairmanship of the Minister of Trade, Industry and Promotion of SMS.

One of the highlights of the second day (May 10) of Cop15 on desertification and drought, which has taken place since May 9 at the Sofitel Abidjan Hotel Ivoire, was the Green Finance Business Forum. Dozens of private sector actors from Côte d’Ivoire, Africa and several other countries around the world gathered in the hall with national, regional and international climate finance institutions to jointly discuss the contribution made by the private sector. This is to meet the key challenges for this Cop. Namely, to slow down the degradation and loss of arable land, and to intensify agricultural production while preserving forest resources.

For the Ivorian private sector, the aim was to reflect on the best strategies that could be put in place to mobilize green funding for sustainable economic development in Côte d’Ivoire. This forum was chaired by the Minister of Trade, Industry and the Promotion of SMEs, Souleymane Diarrassouba, who represented Prime Minister Patrick Achi.

“In addition to the public sector, actors in the private sector and in particular SMEs and large companies are encouraged to play their part in the ecological transition, insofar as they occupy a prominent place in job creation and prosperity,” he said. Souleymane Diarrassouba.

According to the International Labor Organization, on 21and century faces two major challenges. On the one hand, the need to prevent climate change and the deterioration of natural resources and, on the other hand, the commitment to ensure social development and decent work for all. It is therefore a matter of reconciling the overriding duty to protect the environment with the inevitable need to create jobs and prosperity, a source of poverty reduction.

“Here, the use of mobilizing green finance to finance the economic development of our countries seems to be a panacea. In this sense, the international community recommends the adoption of sustainable development, the green economy and the circular economy,” explained Souleymane Diarrassouba.

Also, according to the United Nations, about 12 million hectares of land are lost every year, and with them the potential production of 20 million tons of grain; and 1.5 billion people are affected by drought and desertification. And this with financial losses estimated at at least $ 124 billion over the last two decades.

The appeal of Jean-Marie Ackah

“In such a context, the commitment of the private sector, as a key player in this degradation, to combat desertification and drought poses a major challenge to the sustainable development of our economies. Because, it must be remembered, the agricultural sector alone produces 24% of greenhouse gas emissions. and the industrial sector produces 11%, ”said Souleymane Diarrassouba.

The Ivorian private sector, according to its boss Jean-Marie Ackah, is well aware of the situation. “No one can ignore the seriousness of the situation. That is why Ivorian private sector actors are fully engaged with the public authorities, in particular with regard to climate commitments and the implementation of the environmental aspects of Pnd 2021-2025. We now encourage each other to respect the financial commitments made, ”explained Jean-Marie Ackah.

Ultimately, greater involvement of the private sector in the promotion of intensive agriculture, while preserving organic results, is therefore crucial to ensure an adequate supply of products and thus ensure food sovereignty, “which will contribute to the fight against sky-high food prices”. according to Souleymane Diarrassouba.

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