UAP Old Mutual, in collaboration with My Tree Initiative, launched the Schools Greening Program on 31st October 2024, marking a critical step in addressing Uganda’s environmental challenges. This initiative, launched at Kisaasi Secondary School, will see the planting of 10,000 trees across 10 schools in Uganda, engaging approximately 50,000 students in conservation activities.
The program is part of UAP Old Mutual's commitment to sustainability, recognizing environmental conservation as essential for economic stability and societal well-being. With Uganda’s economy and livelihoods heavily reliant on natural resources, UAP Old Mutual continues to be an active force in environmental sustainability.
"We believe that addressing climate risk is both a responsibility and a necessity for businesses. Through this program, we are contributing to the preservation of Uganda’s natural resources, supporting a sustainable future for our communities and the economy," stated Patrick Kimathi Old Mutual Life Assurance Managing Director.
Uganda faces significant environmental degradation, with alarming rates of deforestation and soil erosion that threaten not only the economy but also food security and poverty reduction. Statistics from the Uganda Economic Update by the World Bank Group in 2021 revealed that over 41% of Uganda’s land was degraded, with the country losing approximately 2.6% of its forest cover each year – one of the highest rates globally. These environmental challenges were estimated to cost Uganda over $9 million in lost ecosystem services annually. Climate risks only compound the impact, with projected economic losses between $2.3 to $4.2 billion by 2025 due to reduced agricultural productivity, water shortages, and diminished exports.
Through the Schools Greening Program, UAP Old Mutual and My Tree Initiative are planting indigenous, medicinal, and fruit trees to restore degraded land and contribute to the ecosystem's sustainability.
“When students actively participate in planting and caring for trees, they learn first-hand the importance of environmental stewardship. Each tree planted represents a commitment to biodiversity, soil health, and a sustainable future for Uganda,” said Enjer Ashiraf, Executive Director of My Tree Initiative while emphasizing the transformative power of involving young people.
“Nature is a critical enabler of our economy, and conserving it is integral to our corporate strategy. As a financial institution, we are committed to incorporating sustainable practices that not only protect Uganda’s natural resources but also ensure long-term economic growth,” added Patrick Kimathi.
This program aims to drive environmental sustainability and inspire young Ugandans to take an active role in environmental conservation, demonstrating that collective effort can effect positive change.