The East Africa Carbon Markets forum through the eyes of a journalist

The East Africa Carbon Markets Forum, held at the Four Points by Sheraton on 9 - 10 May, brought together experts, investors, policymakers, and other key voices from across sectors to delve into the pressing issue of Expanding Financing for the Carbon Markets in East Africa.

The panel I moderated was specifically about the nature-based carbon solutions in the region. The panel discussion at the Forum illuminated critical perspectives on driving financing, collaboration, and regulatory frameworks for nature-based projects.

Nikita Parfeniouk, Originator at Offset8 Capital, emphasised the pivotal role of trust in fostering private sector initiatives.

Drawing from his experiences, Parfeniouk highlighted the necessity of building trust among institutions, underscoring that finances do not flow to places lacking in trust.

Daniel Yin, CEO of Spouts International, underscored the importance of transparency in collaboration between NGOs and local governments.

As the largest ceramic water filter manufacturer in Africa, Spouts International drives impact through climate finance, emphasising the need for transparent relationships to scale nature-based projects effectively.

Dennis Muggaga, Head of Climate Finance Unit at the Ministry of Finance, Planning, and Economic Development, shed light on the role of national governments in facilitating and regulating investments in nature-based carbon solutions.

Muggaga stressed the significance of trust and transparency from both parties, acknowledging the government's commitment to fast-tracking frameworks while ensuring thoroughness to avoid mistakes.

Addressing the challenges and opportunities in attracting international funding for nature-based solutions, all panelists pointed to East Africa's rich natural wealth as a significant opportunity.

They emphasised leveraging this endowment as a starting point for attracting international support.

When discussing innovative approaches and technologies, Nikita highlighted the importance of integrating AI to study and evaluate projects, while Daniel emphasised the role of technology in ensuring carbon integrity.

As a journalist who has witnessed the devastating impacts of climate disasters in Uganda and has covered climate disasters like the unending flooding in Kampala, landslides in Eastern Uganda that have overtime inundated villages, damaged homes, livelihoods, crops, roads and left thousands dead, wildlife getting extinct, Ugandans starving to death due to food insecurity as a result of drought, and also gone ahead to cover, contribute and follow conversations about climate like COP26 in Glasgow, COP27 in Egypt and COP28 in Dubai, this panel provided valuable insights into the region's path towards sustainability.

But while these discussions were essential, they must be accompanied by concrete actions on the ground.

It is imperative that governments, businesses, and civil society organisations translate rhetoric into meaningful interventions that address the root causes of climate change and its impacts.

Moreover, this experience reaffirmed the importance of initiatives like 'Taasa Obutonde' - Save the Environment campaign, championed by my workplace - Next Media, which highlights individual responsibility in combating plastic pollution and promoting environmental sustainability.

Next Media's commitment to sustainability, including the ambitious 15 million tree-planting campaign and the use of solar energy at Next Media Park, aligns with my own advocacy for climate action.

These conversations are vital, and I hope they will continue to drive meaningful change in Uganda and beyond.