President Nana Akufo-Addo of Ghana unveiled the country’s new Energy Transition and Investment Plan at a Global Africa Business Initiative event in New York. This plan signifies Ghana’s commitment to combat climate change while promoting economic growth. It outlines a credible path for Ghana to achieve net-zero energy-related carbon emissions by 2060 by implementing low-carbon solutions across vital sectors, including oil and gas, industry, transport, cooking, and power.
The Ghanaian government intends to use this plan as the primary means to engage international communities and investors in supporting its energy transition. The suggested measures represent a USD 550 billion opportunity for global investments in sustainable development in Ghana, potentially creating 400,000 net jobs within the country’s economy.
Previously, Ghana’s Energy Transition Framework aimed for net-zero emissions by 2070, but this new plan reflects increased ambition with a target of net zero by 2060.
The plan proposes various sectoral changes and technologies, with four main decarbonization technologies – renewables, low-carbon hydrogen, battery electric vehicles, and clean cookstoves – accounting for over 90 percent of the targeted emissions reduction by 2060.
Without this plan, Ghana’s emissions would likely increase from 28 million tonnes of CO2 equivalent in 2021 to over 140 million tonnes in 2050, primarily driven by growth in population, GDP per capita, and vehicle ownership, especially in the transport sector.
Implementing this plan would enable Ghana and its partners to achieve net-zero energy-sector-related carbon emissions while demonstrating that climate action can align with economic development.
The Energy Transition and Investment Plan was developed by the Government of Ghana with technical support from Sustainable Energy for All (SEforALL).
Quotes:
- President Nana Akufo-Addo expressed Ghana’s dedication to green industries, low-carbon technologies, and sustainable growth while achieving environmental harmony.
- Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, highlighted Ghana’s ambitious plan as an opportunity for global partners and investors to contribute to climate action and sustainable development.
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