Private sector participation in climate change initiatives are predicted to account for 75% of action taken to meet climate change mandates of all countries. However, in Africa, private sector and small and medium-sized enterprises (SME) participation remains weak due to a variety of factors but most notably, an inability to access climate finance for climate-smart investments for bankable projects
The African Development Bank, through the Climate Change and Green Growth Department, aims to support the African private sector and SMEs, to assess climate risks and opportunities to develop businesses that contribute to the achievement of countries’ Nationally Determined Contributions (NDCs) and qualify and encourage green investment.
To do this, OneWorld was subcontracted under Natural Eco Capital to enhance the capacity of SMEs to develop climate-smart projects in order to access climate funds, as well as help mainstream the Bank’s private sector operations with NDCs and climate finance commitments.
OneWorld’s work involves developing a climate change screening tool, GHG reduction emissions strategies and toolkits for SMEs to capacitate them to identify and develop climate-smart, bankable projects. This is followed by the various support and awareness raising activities for SMEs, and training for Bank staff and Investment Officers in mainstreaming climate change. Lastly, OneWorld will organise capacity development workshops for SMEs from selected countries to pilot the activities of the tool.