Ghana has one of the largest and fastest growing economies in sub-Saharan Africa, which can be attributed to political stability, good governance and increasing export revenues from cocoa, gold and, more recently, oil production. However, the continuous exploitation of the country’s rich natural resources and the resulting environmental liabilities have the potential to jeopardize the ability of the country to sustainably support the livelihoods of local communities.
The Government of Ghana recognizes that sound environmental management and sustaining healthy ecosystems are pivotal to the country’s socio-economic development. Consequently, using science, technology and innovation, the government has put in place policies to reverse environmental deterioration and to increase resilience to climate change. These decisions are embodied in Ghana’s Medium-Term National Development Policy Framework, Ghana Shared Growth and Development Agenda (GSGDA, 2010-2013). In order to take the next steps to move the country towards a low-carbon green economy, Ghana’s Ministry of Environment, Science, Technology and Innovation, together with the United Nations Environment Programme (UNEP), has undertaken a Green Economy Scoping Study. The overall objective of this study, conducted in collaboration with the University of Ghana’s Institute of Statistical, Social and Economic Research, is to support and complement national initiatives on green economy through a macroeconomic review and policy analysis to understand better how government policies and public and private investment can help achieve income growth, economic development/diversification and job creation and, at the same time, contribute to social equity and environmental improvement.
Green Economy Scoping Study: Ghana has identified three initial sectors that should receive increased strategic investment to strengthen the country’s transition to a green economy: agriculture; forestry; and industry. Although largely qualitative, the study outlines key policy instruments that can be brought into play to enhance the overall sustainability of the economy; and provides a platform for further work, particularly with respect to modelling different green economy scenarios and identifying relevant policy and investment options.