Mr. Seidu Issifu, Minister of State for Climate Change and Sustainability, says?climate finance must be understood not only in terms of numbers but as a tool to safeguard livelihoods and protect the future of the planet.
He said it directly supported communities in adapting to climate change, building resilience, and transitioning to sustainable practices, safeguarding lives, ecosystems, and the planet’s long-term future.
The Minister of State said this in a speech read for him at?a just-ended Climate Finance Learning?forum in Accra.
It was?organised under the Strengthening Investments in Gender-Responsive Climate Adaptation (SIGRA) project,?implemented by Cowater International and funded by Global Affairs Canada (GAC).
The event brought together?70 representatives from women-led, youth-led and climate focused?civil?society?organisations,?goernment?agencies,?funding institutions, and the private sector.
The forum marked a step towards galvanising support for inclusive climate financing that places women and marginalised groups at the center of resilience-building strategies.
Mr. Issifu?reaffirmed Ghana’s commitment to ensuring that climate finance reached?the most vulnerable and drove?inclusive development.
He?called for simplified access to funding, greater innovation from the private sector, and increased investment in renewable energy, green infrastructure, and climate-smart agriculture.
Madam?Adwoa Fraikue, Director of the Climate Change Division,?Ministry of Finance, highlighted the financial challenges Ghana faced?in meeting its climate targets.
She?said?while Ghana needed?an estimated $3.9 to 15 billion over the next decade to implement its Nationally Determined Contributions (NDCs), it currently mobilised?only $830 million annually.
Madam Fraikue said despite the funding shortfall, the country had?made progress through initiatives such as the Climate Prosperity Plan, the Climate Financing Strategy, and the purchase of a Sovereign Drought Insurance Policy.
She also pointed to the government’s success in securing $921 million through Green Climate Fund (GCF) proposals, including a notable $442,968 grant awarded in 2021 to support CSO training and the development of a national civil society climate change agenda.
Madam?Lauren Intven, SIGRA Project Team Lead, reiterated that the project’s core mission?was?to ensure that climate finance?was?accessible, inclusive, and driven by the voices of those most affected.
She explained that the forum stemmed?from the CSO capacity assessments where access to finance constantly arose as the key barrier faced.
Madam Intven?noted?that the forum?aimed?to share practical information on where and how to access climate adaptation finance as well as offered?opportunities to network, strategise and learn best practices from funders and those that had?successfully accessed funding.
She said the project, aligned with Canada’s Feminist International Assistance Policy, partnered?with key government institutions including the Ministry of Finance, the Environmental Protection Agency (EPA) and the Ministry of Local Government, Chieftaincy and Religious Affairs, alongside women-led and climate focused CSOs.
“SIGRA is working with these partners to ensure that gender considerations are integrated into climate adaptation efforts and to expand access to financing opportunities, particularly for women-led organisations,” she stressed.
Source: GNA
The post Climate finance is a key tool to protect livelihoods and planet’s future – Minister appeared first on Ghana Business News.
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