By CHRISTIAN KPESESE –
Ghana urgently requires an average of $ 22. 6 billion to implement the country`s climate change transformational mitigation actions over a ten (10) in order to alleviate the devastating effects of climate Change on flora and fauna, the economy and to safe guard the environment for the sake of posterity.
A total emission reduction of 45% is expected to be achieved by the year 2030 if the 20 mitigation goals and 11 adaptation goals are effectively implemented.
A Deputy Director at the Climate Change Desk, Ministry of Environment, Science, Technology and Innovation, Mr Peter Dery disclosed this in a presentation to Parliament`s Select Committee on Environment, Science and Technology meeting with Political Parties in Accra.
The country intends to mobilize the $ 22.6 billion investment from both domestic and international public and private sources.
$ 6.3 billion, representing 28.3% of the total investment amount would be raise domestically whiles $ 16 billion will come from international support sources.
An amount of $ 9.81 billion representing 45% of the total investment is needed by Ghana in order to implement the 20 climate change transformational mitigation actions whereas $ 12.79 billion is needed for the implementation of the 9 adaptation goals over the ten year period (2020-2030).
In order to implement the national climate change adaptation actions, the country must mobilize $ 4.21 billion representing 34% from domestic sources whiles the remaining $ 8.29 billion is expected to come from international sources.
National budget, Corporate Social Responsibility and commercial facilities generally constitute the expected domestic sources of financing the Climate Change action plans whiles the Green Climate Fund, multilateral funds, Bilateral agreements, private capital investment and the International Carbon market would be the international sources of mobilizing funds for the climate change goals.
Among the broad 20 mitigation measures that Ghana is focusing on are in the areas of exploring renewable energy options including solar, gas and wind energy sources, reducing the level of fuel that is burnt by introducing mass transportation systems, using more efficient energy sources such as biogas and solar to run industries, adopt alternative urban waste management systems and promote sustainable utilization of forest resources through REDD+ among others.
The long term adaptation Goals of Ghana is aimed at increasing climate resilience and decrease vulnerability to advance development.
These includes; good governance and inter-sectoral coordination, capacity building, adoption of science, technology and innovation, adherence to accountable monitoring and reporting, promote out-reach through information sharing, adequate domestic and international financing sources and educating the entire citizenry.
Minister of Foreign Affairs, Hannah Tetteh signed the Paris agreement on behalf of Ghana on April 22, 2016 whiles Parliament officially ratified the Paris Agreement on Climate Change (December, 2015), in August, 2016 with a call on government to take issues relating to climate change seriously due to its socio-economic implication on human lives, the economy and the environment in general.
Parliament also urged the Ministry of Environment, Science, Technology and all stakeholders to work within the parameters of the Paris Agreement especially on public awareness creation, public participation and access to information to strengthen the agreement and Ghana`s response and commitment to the Climate Change mitigation and adaptation goals.
