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Funding for Ghana’s Climate Change Agenda― ABANTU/OXFAM/ GACCES urge the private sector to support

By G. D. Zaney, Esq.

 

One of the most challenging environmental concerns of the world today is climate change―a phenomenon acknowledged to have adverse impacts on ecosystems, human lives and communities.


Equally, stabilizing global climate― building resilience to the effects of climate change as well as reducing the emission of Green House Gases (GHGs) ― remains one of the most urgent and daunting challenges in coming decades.


Addressing these challenges requires building the resilience of vulnerable countries to climate change effects and, thereby, transition the world’s economies to safe levels which, in turn, requires substantial financial investments from both public and private sources.


In other words, climate change effect mitigation and adaptation policies, programmes and projects need to be formulated and implemented which, however, require substantial funding and which the United Nations Framework Convention on Climate Change (UNCCC) has tried to address by providing for the mobilization of funds.


It has, however, emerged that so far, funds mobilized to manage climate change are inadequate; that there is a growing imbalance between public and private sources of climate finance and, for that matter, an imbalance between adaptation and mitigation funding; and that most of the funds raised tend to remain in the developed world, with very limited amounts flowing to developing countries.


Ghana, available information indicates, has made progress in her quest to address climate change-related problems by developing a National Climate Change Policy, the Climate Change Master Plan, with the introduction of Ghana’s Nationally-determined Contributions (GHG-NDCs).


Considering the magnitude of the challenge of climate change vulnerability, and realizing that without the required financial support, these policies and programmes can hardly be implemented, private climate change finance has been identified as an essential implementation factor.


Consequently, three Non-Governmental Organizations― ABANTU for Development, OXFAM and the Gender Action on Climate Change for Equality and Sustainability (GACCES) ― have taken up the challenge of helping to mobilize funding to implement Ghana’s Climate Change agenda and the GHG-NDCs.


As a first step towards the mobilization of funds, the three NGOs have initiated a dialogue series on climate change financing challenges and opportunities in Ghana, targeting civil society organizations, the private sector, media and development partners.


A Communiqué issued at the end of a meeting with the media in Accra, yesterday, noted that private sector contribution to Ghana’s climate change financing is inadequate while donor support is not only fragmented, but also pilot-based interventions which were never scaled-up and are, therefore unable to measure the impacts of such interventions to attract the needed funding.


The communiqué, therefore, underscored the importance of ownership, capacity building, alignment and harmonization in climate change financing at the country level for climate change financing.


The Communiqué also called for a joint engagement and increased participation of the private sector in mobilizing funds and tapping into existing financial mechanism such as the Green Climate Change Fund (GCF) to be established by government.


Furthermore, the communiqué noted that as young people, invariably the next generation of leaders, the youth must be part of the engagement at all levels, among others, build their capacity as the best way of ensuring sustainable development.


The communiqué reminds all stakeholders, including government that to attract the requisite financial support, the objectives of proposed interventions should be clear with activities that promise transformative and demonstrative effects such as gender mainstreaming.


The writer is an officer of the Information Services Department.