President of the Bankers Association of Ghana, Alhassan Andani says the banking sector will not finance projects which endanger the climate.
He added that it has resolved to halt funding of projects which do not follow the guidelines for sustainable investment.
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Contrarily, he said the sector will actively take part in fund mobilisation to assist agencies in fighting climate change.
He intimated that all the 23 commercial banks will commission technical experts to do impact analysis on such project.
Mr Andani also said industries whose actions have affected climate change must be charged to invest in climate change interventions.
Speaking at an investment forum on Ghana’s Nationally Determined Contributions (NDCs) as part of the 2019 Africa Climate Week being held in Accra, he revealed that a committee is currently working on a document that will make this officially binding on all the current 23 banks in the country.
The two-day forum will discuss ways to crowd in private sector investment for projects in Ghana that are financially viable and that also deliver the climate solutions Ghana pledged in its NDC.
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The forum will be a platform to discuss and showcase proven climate solutions and investment-ready climate actions projects to attract support from all relevant stakeholders and mobilise investments for climate actions in Ghana.
Source: thefinderonline.com