Private sector will not finance projects that destroy the climate – Alhassan Andani

Company News of Monday, March 18, 2019

Source: www.ghanaweb.com

2019-03-18

The president of the Ghana Bankers Association, Alhbadan Andani, said private investors would not support industries whose activities continue to destroy the climate.

Ghana and the world have experienced climate change in recent years, posing a fundamental threat to people's places, species and livelihoods. The unsustainable exploitation of the natural world threatens the security of food and water for billions of people

According to Stanbic's CEO, most of the challenges of climate change have been created by industrialized countries, adding that the damage caused by climate change is directly related to industrial development and the search for resources to fuel industrial development.

With regard to corrective measures and the fight against climate change, he said that it was necessary for financial institutions to control in detail the risks badociated with the activities of companies that solicit funds to carry out their projects.

"For us, in the private sector, what binds us is whether our customers engage in all kinds of activities – manufacturing, services. Be that as it may, the impact of this activity on the climate is studied in detail and, if there are risks that can be corrected, fantastic. If these are risks that can not be remedied, I said, we will not fund these types of projects. So, the private sector, we will continue with what we need to do in the fight against climate change. "

Alhbadan Andani explained that the private sector has a responsibility towards its shareholders, with the exception of the communities with which they work, hence the need to take such an initiative.

Mr. Andani made his contributions to the Ghana-determined Contributions Forum (CDN) in Ghana as part of the African Climate Week, which will take place from 18 to 22 March 2019 at the Accra International Conference Center. .

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.

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.