Ghana Steps Up Climate Prosperity Efforts

THE COUNTRY is putting in place plans to address the current challenges of climate vulnerability, as it strives to leverage climate change opportunities for public good.

This move follows the recognition that, the current architecture of the country does not cater for the needs of the climate-vulnerable economies.

“Building on the success of the Presidency of Bangladesh that has developed the first of the many Climate Prosperity Plans, we look forward to developing ours and more importantly, to spur and mobilise international investment through market creation and increased participation, technology transfer and economic partnerships, for accelerated action,” said the Finance Minister, Ken Ofori-Atta.

He was speaking at a preparatory workshop for the hosting of the Climate Vulnerability Forum (CVF) by Ghana from May 2022 to May 2024.

The CVF is a global partnership of developing nations that are disproportionately affected by the consequences of global warming, and are tackling climate change to survive and thrive.

Mr. Ofori-Atta, in a statement read on his behalf, said the country would set up a financial mechanism for Loss and Damage associated with climate change impacts, including flood, long drought spell and erratic rainfall.

The minister explained that such financing mechanism would provide meaningful avenues to deal with climate risk and help turn member states vulnerability to resilience and prosperity.

He said, as the host of the CVF Presidency, the country would work towards increasing the number of members over the next two years as well as the expansion the Forum’s portfolio.

CVF Ghana Coordinator, Dr. Emmanuel Tachie-Obeng, explained that at COP 26 the members of the CVF agreed for Ghana to hold the next residency of the Forum.

He said the CVF represent 1.5 million people worldwide and is made up of 55 members from Asia, Africa and the Caribbean, Latin America, the Middle East and the Pacific.

The Maldives, along with 10 other countries, founded the CVF in Male in November 2009.

Head of Programme at CVF, Mathew McKinnon, said the forum had helped put the vulnerable countries at forefront of climate response, including pushing for 1.5 degrees goals in the Paris Agreement.

He said the secretariat would be working with the Ghana team on issues, including ensuring that the international communities delivered on their commitment to cut emissions and increase funding for adaptation.

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