Cop15/Green business forum: Ivorian private sector invited to take over climate finance resources

As part of Cop15 which opened on May 9, 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 smes.

One of the highlights of the second day (May 10) of Cop15 on desertification and drought, which has been taking place since May 9 at the Sofitel Abidjan Hotel Ivoire, was the business forum on green finance. Dozens of private sector actors from Côte d’Ivoire, Africa and several other countries around the world gathered in the hall along with national, regional and international climate finance institutions to discuss the contribution of private sector. This, in achieving its main Cop challenges. That is, to prevent degradation and loss of arable land, and intensify agricultural production while preserving forest resources.

For the Ivorian private sector, the goal is to think of the best strategies to be put in place for mobilizing green finance for sustainable economic development in Côte d’Ivoire. This forum was chaired by the Minister of Commerce, Industry and Promotion of SMEs, Souleymane Diarrassouba, representing Prime Minister Patrick Achi.

“Apart from the public sector, private sector actors and in particular SMEs and large companies are called upon to play their part in the ecological transition as long as they occupy a large area in job creation and wealth” , says Souleymane Diarrassouba.

According to the International Labor Organization, on 21at The century faces two major challenges. On the one hand, the need to prevent climate change and the destruction of natural resources and on the other hand, the obligation to ensure social development and decent work for all. Therefore, it is a matter of reconciliation with the important duty to protect the environment with the inevitable need to create jobs and wealth, a source of poverty reduction.

“In this way, mandating the mobilization of green finance to finance the economic development of our countries seems like a panacea. In this sense, the international community recommends the adoption of sustainable development, the green economy and the circular economy, ”explains Souleymane Diarrassouba.

Also, according to the United Nations, approximately 12 million hectares of land are lost each year, and with them, the potential production of 20 million tons of cereal; and 1.5 billion people are affected by drought and desertification. And this, with economic losses estimated at at least 124 billion dollars over the past two decades.

The appeal of Jean-Marie Ackah

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

The Ivorian private sector, according to its employer Jean-Marie Ackah, is well aware of the situation. “The gravity of the situation has not escaped anyone. This is why the Ivorian private sector actors are fully engaged together with the public authorities, particularly with regard to climate commitments and implementation of the environmental aspects of Pnd 2021 -2025. We now call on each other to honor the funding promises made, “Jean-Marie Ackah explained.

Ultimately, greater private sector participation in the promotion of intensive agriculture, while maintaining ecological achievements, is therefore essential to guarantee an adequate supply of products, and thus ensure food sovereignty, ”which can help fight rising food prices ”, according to Souleymane Diarrassouba.

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