By Edward Dankwah, GNA
Accra, Oct. 27, GNA – Ghana must align its climate policies with economic competitiveness, industrial development and investment mobilisation to benefit from the emerging global green economy, Mr. Seidu Issifu, has said.
He said countries and businesses that combined economic competitiveness with climate resilience, environmental responsibility, technological innovation and credible sustainability performance would be better positioned to benefit from the next phase of global economic transformation.
The Minister was speaking at the Ghana National Climate and ESG Policy Summit 2026 (SUM26) in Accra, on the theme,”Decoding Policy and Regulation for the Next Economy,” which was organised by Intelligence Nature International (INI), under the auspices of the Office of the Minister of State for Climate Change and Sustainability (OMCCS).
Mr Issifu said Ghana had made important commitments under the Paris Agreement and its Nationally Determined Contributions (NDCs) to pursue low-emission development, strengthen climate resilience and protect natural resources while advancing economic growth, industrialisation, job creation and social development.
He said the OMCCS played a strategic role in coordinating climate and sustainability priorities across government, promoting policy coherence, strengthening institutional collaboration and mobilising climate finance.
He outlined five priority areas for accelerating Ghana’s climate transition: policy coherence and institutional coordination; climate finance and investment mobilisation; credible carbon markets and Environmental, Social and Governance (ESG) practices; international climate policy and Ghana’s positioning at COP31; and trade competitiveness under emerging carbon regulations.
On climate finance, the Minister said public resources alone could not meet the substantial investment requirements for climate-resilient infrastructure, clean energy, modern industrial systems, sustainable food production and the protection of vulnerable communities.
He called for stronger partnerships with domestic financial institutions, capital markets, international climate funds, development finance institutions and private investors, and that attracting such investment required credible institutions, sound governance, transparent financial management, effective project preparation and a pipeline of bankable projects.
He also urged businesses and financial institutions to integrate ESG considerations into investment analysis, corporate governance and long-term business strategies rather than treating sustainability reporting merely as a compliance exercise.
On carbon markets, Mr. Issifu said Ghana’s participation in carbon-market activities and cooperation under Article 6 of the Paris Agreement must be guided by transparency, credible emissions measurement, reporting and verification, and safeguards against double counting.
“Carbon-credit claims must reflect genuine and verifiable environmental benefits, while communities affected by climate investments must be protected and benefit equitably,” he stressed.
Mr. Issifu drew attention to the European Union’s Carbon Border Adjustment Mechanism (CBAM), which entered its definitive regime on January 1, 2026, covering selected carbon-intensive goods, including cement, iron and steel, aluminium, fertilisers, electricity and hydrogen.
He said the mechanism had implications for Ghana’s industrial development, export competitiveness, trade relations, investment planning and access to international markets.
The Minister urged Ghanaian manufacturers, exporters and businesses participating in affected supply chains to understand the applicable requirements and strengthen their capacity to provide reliable emissions data.
He called for collaboration among government, industry associations, financial institutions and regulatory bodies to raise awareness, strengthen technical capacity and develop practical responses for affected businesses.
The Minister further urged business leaders to assess their exposure to climate risks, improve energy efficiency, strengthen sustainability data and explore financing opportunities for cleaner production and climate-resilient business models.
“Government, in turn, must provide policy clarity, predictable implementation, institutional coordination and constructive engagement with industry to create an enabling environment for investment and innovation,” he said
He said the MMDAs were indispensable to climate action because of their proximity to communities and local economic activities, and called for climate considerations to be incorporated into district-level planning and budgeting.
Mr. Issifu said such efforts would help protect vulnerable communities, strengthen local livelihoods and create opportunities for businesses while ensuring that Ghana’s green transition supported value addition, decent jobs, export diversification and long-term economic resilience.
GNA
Edited by Kenneth Odeng Adade