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Paris Agreement: Ghana unlikely to meet investment pledge to address climate change

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Ghana would not be able to mobilize its intended contribution to 22.6 billion-dollars investment meant to address the effects of climate change as envisaged in the Paris Agreement.

This is due to the effects of COVID-19 on the economy.

In view of this, the Environmental Protection Agency, (EPA) last October initiated a dialogue to re-negotiate the terms to scale down the amount to meet the realities of the economy.

Executive Director of EPA, Dr. Henry Kokofu who disclosed this in an interview with GBC News said the sustainability of the economy has been challenged by COVID-19 and in view of that the agency has met with representative of the critical sectors that climate changeaffect the most, to review the investments needed in those sectors.

On Investments from donor partners, the Director in-charge of Climate Change at the Ministry of Environment, Science, Technology and Innovation, Peter Dery said there is no data on how COVID-19 is affecting the realization of donor support in the country’s Nationally Determined Contributions (NDC’S).

He acknowledged the fact that with economic slowdown due to the pandemic, there is the likelihood of shortfalls in accessing donor funds.

Ghana as a signatory to the Paris Agreement has outlined its commitment to address the effects of climate change known as Nationally Determined Contributions, NDC’S.

Its implementation starts from 2020 to 2030 in seven economic priority sectors including agriculture, industry, infrastructure, renewable energy and waste management.

Government is to invest 6.3 billion dollars in the NDC’S while donor partners are expected to invest with the remaining 16.3 billion dollars.

STORY BY: JOYCE GYEKYE

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