Survey on Development of Green Financing in the Financial Sector

BANK OF UGANDA

OFFICE OF
THE EXECUTIVE DIRECTOR
SUPERVISION

EDS.306.2

2nd December 2021

37-45 KAMPALA ROAD,
P.O. BOX 7120,
KAMPALA

DIRECT LINE: 256-414-230051
GENERAL LINE: 256-414-258441
Ext 2403
FAX LINE: 256-414-258515
TELEX: 256-414-61059
CABLES: UGABANK
Email: info@bou.or.ug
Website: www.bou.or.ug

Circular to Chief Executives of Commercial Banks, Credit Institutions and Microfinance Deposit Taking Institutions

Survey on Development of Green Financing in the Financial Sector

Green Financing is gaining in prominence as a priority for both national regulators and the financial services industry, in addition to being central to the achievement of the United Nations Sustainable Development Goals (SDGs). This focus is now about increasing financial flows (from banking, micro-credit, insurance and investment) from the public, private and not-for-profit sectors to fund sustainable development priorities and productive activities. Bank of Uganda is currently compiling data on the extent, emphasis, and nature of green financing within the financial sector. This is to request that you provide information on the following:

1) Your institution’s experience in Green Financing, green financing products offered, data on the uptake of these products and future prospects for this area of investment.
2) Is there a sufficient pipeline of green investments to justify a focus or a review by your institution of green financing and environmental, social and governance (ESG) opportunities?
3) Existing challenges, where applicable, in extending green financing to your customers?
4) What specific support is needed to build green financing capacity for the supervised financial institutions?
5) How else is your institution comprehensively addressing sustainable development?

Please forward your responses to these questions and any other information relating to Green Finance to the Office of the Director Commercial Banking by Tuesday 7th December 2021.

Yours faithfully,

[Signature]

Tumubweinee Twinemanzi (Dr.)
Executive Director Supervision

Copy: Director Commercial Banking
Director NBFI
Director Financial Stability

Mission: To Foster Price Stability and a Sound Financial System Vision: To be a Centre of Excellence in Upholding Macroeconomic Stability