Finance Clergyman, Ken Ofori-Atta, has demonstrated that Ghana would require about $12.5 billion to construct an environment versatile economy.
He believes that climate resilience investments must be prioritized because they cannot be undervalued.
Tending to members at the Worldwide Safeguard Drive and the Worldwide Gamble Demonstrating Coalition Studio, the money serve gave a breakdown of the assets should have been created from the public level and the global levels.
"Africa has, throughout the course of recent many years, lost more than $200 billion because of environmental change; also, in Ghana alone we require $4.21 billion (34%) at the public level and $8.29 billion (66%) from worldwide sources to meet the expense of executing our transformation activities as per our NDCs," Ken Ofori-Atta said.
"To construct an environment versatile economy and progress to a low-carbon improvement pathway, we genuinely should go with informed choices in light of dependable information at both the public and subnational levels to limit the effect of environmental change and empower advancement positive environment activity," he added.
Meanwhile, Dr. Kwaku Afriyie, Minister of Environment, Science, Technology, and Innovation, emphasized the significance of incorporating low-carbon transition and adaptation into Ghana's energy mix.
We need to pay close attention to the advice of scientists because science is clear and failing to do so will only put the lives of our people in danger. He emphasized that "evidence-based analysis and results should assist us in designing people-centered new investments toward a low-carbon transition and adaptation that we most urgently require to safeguard our economies, supply chains, and communities against accelerating climate-driven risks."
Ghana's risk will be assessed by the Global Risk Modelling Alliance, an organization that will provide crucial data for climate risk management strategies and new investments in adaptation.
In addition, the goal of Global Shield is to set up financing mechanisms that are pre-arranged and based on triggers. This will make sure that climate-related challenges are addressed promptly and effectively when they occur.
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