President Akufo-Addo has indicated that Ghana will need about $550 billion in the next forty years to ensure that Ghana achieves its net zero targets.
He reiterated government’s commitment to make Ghana one of the first countries to attain universal access to clean and modern energy by 2030.
The National Energy Transition framework was established as a policy guide to help the country attain its net-zero energy related carbon emissions by 2060.
The framework outlines how the country intends to implement low carbon solutions in major sectors of the economy such as oil and gas industry, transportation, agriculture and power.
Speaking at the 7th Ghana Energy Awards, President Akufo-Addo stated that though the targets are ambitious, government remains committed to attaining universal access to clean and modern energy by 2030.
“This national framework is ambitious but attainable. It is anticipated that some $550 United States dollars will have to be raised over the next 40 years.”
“This is equivalent to some 10% of our annual GDP.” He added.
He stated that though the amount needed is hefty, the country stands the risk of spending more in combatting the effects of pollution if nothing is done.
“This may appear huge, but yet, it is less than what will be spent if we carry on unconcerned.”
He further highlighted the socio-economic benefits if the National Energy Transition framework is implemented to the latter.
“The framework will have long term advantages for our economy, society and environment. It will increase our energy security, diversify our energy mix, create jobs, boost health and to eradicate poverty and safeguard our natural resource.”
Latest Stories
-
BoG announces new set of regulatory measures to check NPLs
36 seconds -
BoG urges financial institutions to maintain a robust credit risk management framework
31 minutes -
Fire officers contain inferno at Nogora commercial enclave at Ho Technical University
44 minutes -
European leaders tentatively hopeful after call with Trump ahead of Putin summit
1 hour -
Trademarks are not one size fits all; register them by class – Sarah Norkor Anku tells SMEs
2 hours -
Cardinal Turkson urges caution and discernment in interpreting prophecies
3 hours -
NPP activists Sir Obama Pokuase, Fante Comedy granted bail but remain in custody
3 hours -
Man sentenced to 10 years for robbery-related offences in Tumu
4 hours -
OR Foundation partners with GNFS to train Kantamanto traders on fire safety
4 hours -
Mob attacks IGP’s special anti-galamsey taskforce at Bonteso in Ashanti region
4 hours -
Mireku Duker denies media reports on presidential ambition
4 hours -
Suspended Chief Justice pays tribute to victims of helicopter crash
4 hours -
Guinness Ghana DJ Awards 2025: Smirnoff-powered Pub Fest ignites Winneba with top DJs
4 hours -
Kumasi Archbishop leads delegation to console Asantehene over Asantehemaa’s passing
5 hours -
Man dies after reportedly jumping off Achimota Roundabout overpass in Accra
5 hours