Private Sector Crucial in Building Climate-Resilient Economy, Says Planning & Dev’t Minister

Addis Ababa, February 22, 2025 (ENA)—Minister of Planning and Development, Fitsum Assefa underscored the essential role of private sector partnerships in fostering a climate-resilient economy in Ethiopia.

At a consultation forum held yesterday, Minister Fitsum further emphasized the critical contribution of the private sector in addressing climate-induced impacts and promoting green development.

The Minister outlined Ethiopia’s commitment to building a climate-resilient green economy, noting that the Ten-Year Master Development Plan serves as a key framework.

She highlighted that various climate strategies are embedded in the country’s sectoral development plans and programs.

Ethiopia has ratified the Paris Agreement and formulated a climate change response plan that outlines actions through 2050.

The plan aims to reduce greenhouse gas emissions by 68.8 percent by 2030.

However, the minister acknowledged that private sector engagement has been limited due to a lack of supportive enabling environments in the past.

"To address this, my ministry has created a working group focused on improving coordination and strengthening partnerships. Our ongoing efforts are centered on climate finance to maximize national benefits," she explained.

Global Green Growth Institute (GGGI) Country Representative to Ethiopia, Okechukwu Daniel Ogbonnaya commended the Ethiopian government's progress in mitigating the impacts of climate change.

He called for stronger collaboration between the government, private sector, and international institutions to implement climate-resilient projects.

 He also pledged to further extend  support for Ethiopia’s climate initiatives.

Secretary General of the Ethiopian Chamber of Commerce and Industry, Kenenisa Lemi reiterated the government’s commitment to helping the private sector align with climate change mitigation efforts.

He emphasized the importance of investments that promote both economic growth and environmental sustainability.

 The secretory general also highlighted the crucial role of climate finance in the country’s climate action endeavors to meet its goals.

Deputy Director General of Mekobu Enterprise, Sabile Mekonnen, an agricultural technology provider, and the Manager of Abra Amba Technology, a solar technology provider, both emphasized the importance of stakeholder coordination in addressing climate change.

They highlighted the role of the workshop in fostering collaborative efforts with the ministry to tackle climate change effectively.