Ghana Unveils Ambitious Climate Prosperity Plan to Drive Economic Growth and Sustainability
Ghana has taken a bold step towards a sustainable future with its Climate Prosperity Plan (CPP), presented by Mr. Foster Aboagye Gyamfi at COP in Baku. This comprehensive plan aims to transform Ghana’s economy into a resilient, sustainable, and prosperous one, achieving a net economic gain of over $75 billion by 2050.
Key Projects:
- The Akosombo Net-Zero Industrial Park: Africa’s first net-zero industrial park, powered entirely by renewable energy, with a total project cost of $105 million.
- Wahu Mobility and Green Industrial Park: A sustainable transportation and green manufacturing ecosystem, with a total project cost of $100 million.
- ITrash Decentralized Waste Management System: A cutting-edge waste management platform leveraging smart technology, with a total project cost of $80 million.
- Forest Prosperity Plan: A project to expand and protect Ghana’s forests, with a total project cost of $71 million.
Investment and Financing Strategies:
Ghana’s CPP employs several approaches to attract investment and reduce risks, including:
- Establishing a Climate Financing Division to strengthen national collaboration and develop innovative financing frameworks.
- Leveraging blended finance, Ghana Green Finance Taxonomy, and natural assets to generate carbon financing.
- Exploring debt swaps to secure sustainable financing.
A Comprehensive Approach:
Ghana’s Climate Prosperity Plan is not just about environmental sustainability; it’s also about economic stability, community resilience, and future growth ¹. The plan builds on Ghana’s Nationally Determined Contributions (NDCs) under the Paris Agreement, aiming to reduce emissions by 15 to 45 percent below the business-as-usual scenario by 2030 [2).
A Call to Action:
Ghana invites partners to join forces in making this vision a reality. With collaborative efforts, Ghana can transform its economy into a thriving, resilient, and sustainable one, benefiting its people and the planet.
