Somalia Seeks Private Sector Investment to Drive Climate Resilience and Green Economy

GOOBJOOG NEWS | MOGADISHU: Somalia is seeking to expand private sector investment in climate resilience and environmental protection after government officials and business leaders agreed to strengthen cooperation on green financing, renewable energy and sustainable development initiatives.

The understanding emerged from a meeting between Environment and Climate Change Minister Lt. Gen. Bashir Mohamed Jama and executives from the banking, telecommunications and energy sectors, who explored ways businesses could play a larger role in supporting the country’s response to climate change.

The discussions identified green investment, climate adaptation projects and increased private sector participation in national environmental programmes as key areas for collaboration, according to the Ministry of Environment and Climate Change.

The minister said partnerships with the private sector would be critical to mobilising the financing and expertise needed to advance Somalia’s environmental priorities while supporting sustainable economic growth.

The meeting comes as Somalia intensifies efforts to attract investment for climate resilience following years of recurring droughts, devastating floods and environmental degradation that have affected millions of people and placed increasing pressure on livelihoods and food security.

Although Somalia contributes only a tiny fraction of global greenhouse gas emissions, it remains among the countries most exposed to the impacts of climate change. The federal government has been working with international partners to strengthen adaptation measures, but officials increasingly view domestic private sector investment as essential to closing funding gaps and accelerating the transition to a more sustainable economy.

Stronger collaboration between government and businesses is likely to help unlock financing for renewable energy, climate-smart agriculture, ecosystem restoration and other projects that support economic growth while improving resilience to future climate shocks.