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Gov’t of Ghana, UNDP Hold Investment Forum at Africa Climate Week

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Solar panels. Photo: UNDP Ghana

By: Voltaonlinegh.com |

The Government of Ghana and the United Nations Development Programme (UNDP) will host an Investment Forum on Ghana’s Nationally Determined Contributions (NDCs) from 18th to 19th March 2019 during the Africa Climate Week, which is slated from the 18th to 22nd March 2019 at the Accra international Conference Centre.

The two-day forum will discuss ways to crowd-in private sector investment for projects in Ghana that are financially viable, and that also deliver the climate solutions Ghana pledged in its Nationally Determined Contribution.

According to Prof. Kwabena Frimpong-Boateng, Minister of Environment, Science, Technology and Innovation (MESTI), “Ghana needs about USD 22.6 billion investments from domestic and international public and private sources to finance its climate actions, starting from 2020. About USD 6.3 billion is expected to be mobilised from domestic sources and USD 16.3 billion will come from international support and this is the best time for us to discuss how to mobilise more investment.

The forum will be a platform to discuss and showcase proven climate solutions and investment-ready climate action projects to attract support from all relevant stakeholders and mobilise investments for climate action in Ghana.

Gita Welch, Resident Representative of UNDP Ghana said, “huge investment is required to tackle climate change globally, and this calls for innovative financing especially from the private sector to accelerate climate change adaptation and mitigation actions.”

Discussion at the forum will focus on: Scaling the Need and Investment Opportunity for Low-Carbon Transition, Increasing Climate Project Flow with Innovative Finance, Accelerating Private Sector Investment (in press conference format), Adapting to Climate Change: Resilience, Security and Finance and Climate Action and SDGs: Engaging Enterprises to Advance Nationally Determined Contributions.

Stakeholders from international/development organisations, government agencies, civil societies and academia are expected to participate in the forum.

Key speakers will include: Prof. George Gyan Baffour, Minister of Planning, Government of Ghana, Patricia Appiagye, Deputy Minister, Ministry of Environment, Science, Technology and Innovation (MESTI) and John Pwamang, Acting Executive Director of Environmental Protection Agency (EPA).

The others are Alhassan Andani, Chief Executive of Stanbic Bank Ghana and President of the Ghana Association of Bankers, Dr. Arona Soumare, Principal Climate Change and Green Growth Officer, African Development Bank, Paul Stevers, CEO Think Renewables Group and Daniel Rossetto, Founder, Paris Climate Bond.

The rest are Albert Touna Mama, Resident Representative, International Monetary Fund, Ibrahim Peghouma, Senior Regional Energy/Environment Officer for West Africa, United Nations High Commissioner for Refugees (UNHCR) Ghana and Gita Honwana Welch, Resident Representative, UNDP Ghana.

The Paris Agreement requests each country to outline and communicate their post-2020 climate actions, known as their Nationally Determined Contributions (NDCs), which embody efforts by each country to reduce national emissions and adapt to the impacts of climate change.

The Investment Forum during the Africa Climate Week will officially launch and present “Ghana’s Nationally Determined Contribution Implementation and Investment Plan”, which outlines the key actions that Ghana will undertake in the next 10 years to meet its commitment to the global fight against climate change, in line with the Paris Agreement.

The Africa Climate Week will lay the groundwork for the upcoming UN Secretary-General’s Climate Summit scheduled to take place during the 73rd General Assembly in September 2019.

Source: www.gh.undp.org

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