Ghana holds investment forum at Africa Climate Week

The Government of Ghana and the United Nations Development Program (UNDP) will host an Investment Forum to discuss ways to crowd-in private sector investment for clean energy projects in Ghana that are financially viable.

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 mobilize investments for climate action in Ghana.

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

According to Ghana’s Minister of Environment, Science, Technology and Innovation (MESTI), Kwabena Frimpong-Boateng, the country needs about $22.6 billion investments from domestic and international public and private sources to finance its climate actions, starting from 2020.

He said about $6.3 billion is expected to be mobilized from domestic sources and $16.3 billion will come from international support.

The Ghana forum is in line with the Paris Agreement. The Agreement requests each country to outline and communicate its post-2020 climate actions, known as their Nationally Determined Contributions (NDCs).

Africa Climate Week (ACW) 2019 will convene in the lead-up to the UN Secretary-General’s Climate Summit in September 2019, bringing together diverse actors from the public and private sectors.

Participants will focus on how engagement between Parties and non-Party stakeholders can be further strengthened in key sectors for Africa, including energy, agriculture and human settlements.

The event will also showcase the role of future carbon markets to enhance climate action towards the goal of sustainable development, and seek to facilitate implementation of countries’ NDCs and SDG 13 (climate action), among other Goals.