Ghana’s energy sector faces a financial crisis that threatens its long-term sustainability, efficiency, and ability to drive economic growth. While oil and gas thermal plants have traditionally been a cornerstone of Ghana’s electricity generation, its heavy reliance on imported fuels exposes the country to price volatility, supply chain disruptions, and mounting financial strain.
Developing countries that rely on traditional energy sources face a daunting challenge to power their electricity, industrial and agricultural activities. Central to this challenge is the lack of access to adequate financial resources for facilitating energy transitions and achieving climate objectives in these countries. The climate finance issue was emphasized during the 26th United Nations Climate Change Conference in Glasgow (COP26), resulting in the formation of the Just Energy Transition Partnership (JETP). This initiative emerged following a commitment of $8.5 billion by France, Germany, the United Kingdom, the United States, and the European Union to assist South Africa in phasing out coal. JETP functions as a collaborative financing mechanism aimed at aiding coal-dependent countries in transitioning to renewable energy sources while concurrently fostering clean energy employment opportunities and sustainable practices.
INNOVATION
AND DIGITAL
LOW CARBON GROWTH
CLIMATE FINANCE
RESILIENT DEVELOPMENT
SUSTAINABLE AGRICULTURE
CLIMATE POLICY PERFORMANCE
clean
technology
Green industrial policy consists of a series of policy tools aimed at promoting the development of specific green industries. They can stimulate enterprises to invest in green technologies through measures such as research and development subsidies and tax incentives, and guide the whole society to reduce environmental negative externality behaviors.