An end-of-study workshop has been held to share findings of “Climate change finance in Ghana” – a study that sought to find how climate finance is integrated into Ghana’s national budget and identify spending that could be categorized
as climate finance. The study was conducted by the Institute of Statistical Social and Economic Research (ISSER) and the Overseas Development Institute (ODI), in collaboration with Ghana’s Ministry of Finance (MoF), and aims to promote effective and efficient climate public finance delivery in Ghana.
Climate change finance in Ghana – Key Findings
The study identifies current national spending that is directed towards climate action and finds that most of it is not labelled as ‘climate finance’. There is no mention in the National Climate Change Policy (NCCP) of how funds will be raised to deliver on the plan outlined in the policy document and no process outlined to ensure transparency and accountability. There is also no finance strategy to accompany the plan, and insufficient capacity to coordinate and oversee climate spending across government. Climate change is not a primary objective for the majority of climate related spending and awareness of the NCCP and issues relating to climate change vary across government institutions, the study noted.
Although progress has been made on developing an overarching policy framework for climate action in Ghana through the national policy and its accompanying draft master plan, the effectiveness of climate finance delivery depends on a joined-up approach between policymakers, institutions and the national budgetary system. The study points out that how successful the NCCP proves to be depends upon the capacity of government institutions to manage additional funds, develop new skills and adapt to new ways of thinking.
Based on the findings, the study made useful recommendations including the following:
The workshop, held on June 30, 2015 in Accra, provided platform for the team of researchers – comprising Prof. Felix Asante, Director of ISSER; Dr. Simon Bawakyillenuo, ISSER; Neil Bird, ODI; Nella Canales Trujillo, ODI; Dr. Cynthia Tagoe, ISSER and Nicholas Ashiabi, ISSER – to interact with climate change stakeholders and foster understanding and buy-in of key issues and recommendations.
Deputy Minister of Finance, Mrs. Mona Quartey delivered the keynote address. She thanked ISSER and the ODI for making the study possible. She noted that ISSER’s professionalism reflects the existence of local expertise in various fields of endeavor in Ghana, and justifies the issue of local content.