By Morkporkpor Anku
Accra, Nov. 25, GNA – Ghana is now the president of Climate Vulnerable Forum (CVF) and Chair of the Vulnerable Twenty (V20) Group of Ministers of Finance.
The two-year tenure will end in 2024.
Finance Minister Ken Ofori-Atta, announced this when he presented the 2023 Budget Statement and Economic Policy in Parliament.
The Government, he said, would leverage the opportunity to accelerate its climate agenda outlined in Ghana’s Climate Prosperity Plans.
The Government took the opportunities offered by the just-ended COP27 in Egypt to strengthen its bilateral engagements and expand consultations on the debt-for-nature swaps.
It also urged increased private sector investments to accelerate its transition to low carbon growth and finance our climate action measures.
The Minister said global warming posed major threats to the economies of climate vulnerable countries, such as Ghana.
According to the V20 Loss and Damage Report, Ghana lost US$15.20 billion, from 2000 to 2019, to climate change.
According to the World Bank Group’s new Country Climate and Development Report for Ghana, incomes could reduce by up to 40 per cent for poor households by 2050, if urgent climate actions are not taken.
Founded in 2009, the Climate Vulnerable Forum is a global partnership of countries that are highly affected by the consequences of climate change.
The forum addresses the negative effects of climate change as a result of heightened socioeconomic and environmental vulnerabilities.
It has 55 governments as members.
Vulnerable Twenty Group (V20) of Finance Ministers are from the most climate vulnerable countries.
GNA