Government has launched the Zambia Green Finance Taxonomy (ZGFT), a landmark national framework that places the country among Africa’s front-runners in sustainable finance.
Zambia has become one of the few African nations to develop a green finance taxonomy, joining a short list of regional pioneers advancing climate-resilient, nature-positive and low-carbon development.
The ZGFT was developed through the Green Finance Mainstreaming Working Group with technical support from the United Nations Development Programme’s (UNDP) and Biodiversity Finance Initiative (BIOFIN).
It establishes Zambia’s first unified, science-based system for identifying environmentally sustainable economic activities.
Zambia becomes one of the few African nations to develop a green finance taxonomy, joining a short list of regional pioneers advancing climate-resilient, nature-positive and low-carbon development.
Speaking during the launch in Lusaka, Minister of Green Economy and Environment, Mike Mposha described the ZGFT as a profound statement of the country’s intent and ambition.
“It positions Zambia as a regional leader in sustainable finance and strengthens our ability to build a resilient, inclusive and nature-positive economy that aligns with our national priorities and global sustainability standards,” he stated.
Mr. Mposha, who was represented by Ministry of Green Economy and Environment Permanent Secretary Dr. Douty Chibamba, noted that the ZGFT provides clear, technical screening criteria that define what qualifies as green across eight high-impact sectors including energy, agriculture, forestry, mining, water, transport, tourism, and waste management.
“It also sets out six environmental objectives, from climate change mitigation to biodiversity protection, ensuring investments are aligned with national and global sustainability priorities,” he added.
And UNDP Resident Representative, Dr James Wakiaga, who was represented by UNDP Zambia Deputy Resident Representative, Laurent Rudasingwa, noted that finance has the power to transform economic pathways, and today’s launch comes at a moment of great urgency.
“This taxonomy equips Zambia to channel investment into sectors that deliver resilience, long-term growth and environmental protection,” he added.
Meanwhile, Wild Wide Fund for Nature (WWF) Zambia Chief Operating Officer, Bruce Mushipi stated that the ZGFT marks a major step in the country’s financial system and a landmark for development and climate agenda.
“The ZGFT will be positioned as a regional leader in sustainable finance. The strength of the taxonomy relies on collaboration efforts among all the stakeholders,” he said.
The Government, in collaboration with financial regulators and partners, will now begin national roll-out of the taxonomy, which includes training sessions, technical clinics, and sector-specific guidance to support adoption across Zambia’s financial system.
