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Ghana needs about $ 22.6 billion in national and international public and private investment to finance its climate action, starting in 2020.
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The Government of Ghana and the United Nations Development Program (UNDP) Hold a Forum on Investment on Ghana's Determined Contributions at the National Level (NDC) from March 18 to 19, as part of the African Climate Week, to be held from 18 to 19th to 22North Dakota March 2019 at the International Conference Center of Accra.
The two-day forum will discuss ways to bundle private sector investment for financially viable projects in Ghana that also provide climate solutions that Ghana has promised in its determined contribution at the national level.
"Ghana needs about $ 22.6 billion in national and international public and private investment to finance its climate action, starting in 2020. About $ 6.3 billion is expected to be mobilized from national sources and $ 16.3 billion will come from international aid. The best time for us to discuss how to leverage more investment, "said Professor Kwabena Frimpong-Boateng, Minister of Environment, Science, Technology and Innovation (Mesti).
The forum will provide a platform to discuss and present climate-proof solutions and climate-friendly climate action projects in order to attract the support of all relevant stakeholders and mobilize investments for climate action. climate in Ghana.
"Considerable investment is needed to tackle climate change globally, which requires innovative financing, especially from the private sector, to accelerate adaptation and adaptation measures. climate change mitigation, "said UNDP Ghana Resident Representative Gita Welch.
The discussion at the forum will focus on:
- Intensify the needs and investment opportunities for a low-carbon transition
- Increase in the number of climate-related projects thanks to innovative financing
- Accelerate private sector investment (in press conference format)
- Adapting to climate change: resilience, security and finances
- Climate Action and the SDGs: Encouraging Business to Advance Nationally Determined Contributions
Stakeholders from international / development organizations, government agencies, civil society and academia should participate in the forum. Key stakeholders will include:
- George Gyan Baffour, Minister of Planning, Government of Ghana
- Patricia Appiagye, Deputy Minister, Ministry of Environment, Science, Technology and Innovation (MESTI)
- John Pwamang, Acting Executive Director of the Environmental Protection Agency (EPA)
- Alhbadan Andani, Managing Director of Stanbic Bank Ghana and President of the Ghana Bankers Association
- Dr. Arona Soumare, Senior Manager Climate Change and Green Growth, African Development Bank
- Paul Stevers, CEO of Think Renewables Group
- Daniel Rossetto, founder, Paris Climate Bond
- Albert Touna Mama, Resident Representative of the International Monetary Fund
- Ibrahim Peghouma, Senior Regional Chief of Energy and Environment for West Africa, United Nations High Commissioner for Refugees (UNHCR), Ghana
- Gita Honwana Welch, UNDP Resident Representative in Ghana
The Paris Agreement requires each country to define and communicate its post-2020 climate actions, called nationally determined contributions (NDCs), which embodies the efforts of each country to reduce national emissions and adapt to the impacts of climate change.
The African Climate Week Investment Forum will formally launch and present the Ghana-Determined Contribution Investment and Implementation Plan, which outlines key actions that Ghana will undertake in the coming year. over the next 10 years to meet its commitment to the global fight against climate change. in accordance with the Paris Agreement.
African Climate Week will lay the groundwork for the next UN Secretary-General Climate Summit planned for the 73rd General Meeting in September 2019.
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