UIBFS Announces Green Finance Awards Challenge

The Uganda Institute of Bank and Financial Services has announced nominations for this year’s green finance awards.

UIBFS CEO, Goretti Masadde said throughout 2023, players in the financial services sector have run a saving challenge where staff of different organisations have collected money which will go towards boosting the most befitting women or youth led green smart initiatives.

She said the aim of the awards is to inculcate a saving culture among bankers but also at the same time ensure they grasp the whole idea of green financing and climate smart project funding.

Massade said through this initiative, employees of financial institutions have contributed shs.30 million which will see each of the six winners in each of the six categories of recycling, renewable energy, smart agriculture, smart building and energy conservation win shs.5 million.

She noted that nomination is open to individuals, groups of women or youth business proprietors, investors, founders or any stakeholders involved in innovative green projects and should be able to demonstrate a focus on climate mitigation, climate adaptation, biodiversity conservation, good savings and financial discipline.

Patricia Amito, the Uganda Bankers Association (UBA)  head of communications and corporate affairs, said the initiative is aimed at raising awareness among bankers and the public about the importance of saving and  green smart initiatives.

She noted that through the initiative, financial institutions are contributing towards environmental conservation and reduction of the negative impact of climate change in the country.