Why green financing is attracting lenders’ appetite

Why green financing is attracting lenders’ appetite

Some companies have taken action to end plastic pollution as lenders become cautious of whom to lend to. PHOTO/Stephen Otage Going green in addition to cutting production costs, is becoming a prerequisite for some lenders. Green lenders can no longer block out the global alarm raised by world leaders as a call for action to mitigate climate change, Christine Kasemiire writes.

After several failed attempts to merge a bag to a seat in 2016, Arnold Mugaga, the creator of SeatPack emerged victorious in 2018.

Birthed on the ideals of resolving the inadequacy of desks in schools, pressures from population growth and increasingly endangered forest cover, the 600 gram school bag unfolds into a seat and contains a writing pad.

It was made to be environmentally and economically sustainable.

In the same spirit of human and animal life sustainability, Gorilla Conservation Coffee was formed.

Dr Gladys Kalema Zikusooka founded the company after the harsh realisation that the farmers living adjacent to Bwindi Impenetrable Forest were poorly remunerated for their coffee. Consequently, they resorted to using the national park for fuel and food.

Bwindi National park is home to many gorillas in Uganda. To protect the gorillas’ home, Gorilla conservation coffee then offered farmers a premium of $0.5 per kilo above the market price for their coffee to enable them attain their livelihood.

The company prides itself in protecting the animal species by donating $1.5 (1,829) per kilo of coffee purchased to help save mountain gorillas by directly supporting the work of Conservation through a non-profit organisation.

In addition to the above lies a plethora of businesses built with a sustainability aspect under the model, in a spectrum of sectors including energy, waste management and manufacturing among others.

Most recently, students of International University of East Africa unveiled electric motorcycles with the ability to move for about 80 Kilometres after charge. The goal, the university students said, was to use technology to reduce pollution.

But it is not only the startups and new innovations, big corporations are also making the shift.Uganda Breweries Limited and cement manufacturer Hima Cement have also highlighted the firms’ dedication towards greener products. For them, it stems from the production processes.“Cement is one of the biggest carbon emitters, so we are innovating new methods of reducing the carbon emissions,” Mr Israel Tinkasimire, commercial director Hima says.Whereas he pegs Hima Cement’s green agenda to values such as health and safety, environment, education and people, there is a silent […]

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