Ghana requires approximately US$22.6 billion to effectively tackle climate change and its attendant challenges, the Minister of State in charge of Climate Change, Mr Seidu Issifu, has revealed.
He said Ghana could not mobilise the required funds alone and would therefore need collaboration with stakeholders, including international partners.
In that regard, he explained that efforts were underway to raise the needed funds through partnerships, with discussions ongoing to bridge the financing gap.
Speaking at the Government Accountability Series at the Presidency in Accra yesterday, Mr Issifu said his office was working closely with the European Union to secure the necessary support to boost Ghana’s climate change response.
“We cannot raise the US$22.6 billion alone. We need strategic partners to be able to do that, and I work closely with the EU. These are things that we share with them, and that is how we can contribute to the bucket to assist the government in raising climate funding to prosecute these development agendas,” he said.
Mr Issifu noted that Ghana’s long-term objective was to become a regional leader in climate resilience, sustainable industrialisation, and climate-smart investment.
He said that over the past year, his office had focused on building the necessary architecture, governance systems, partnerships and investment pipelines to advance Ghana’s climate agenda and strengthen its global credibility.
According to him, there was growing donor fatigue, with declining grant-based climate finance and increasing competition among countries for limited concessional resources. This, he said, placed additional pressure on countries like Ghana to position themselves more strategically and competitively.
He stressed that climate-vulnerable countries must gradually shift from reliance on grant-based and concessional financing instruments.
Mr Issifu also identified key challenges affecting Ghana’s climate response, including limited technical capacity in the carbon market, particularly in project development, measurement, reporting and verification systems, as well as regulatory frameworks.
Secondly, he said Ghana continued to face slow and complex accreditation processes for accessing major climate finance mechanisms such as the Green Climate Fund and the Adaptation Fund.
He stressed that climate change was no longer merely an environmental issue but a national development challenge affecting Ghana’s economy, infrastructure, water security, food systems and energy transition.
“Climate action is not a charity. It is a strategy. It is an investment in Ghana’s future stability, resilience and prosperity. The office remains committed to ensuring that Ghana is not simply a recipient of climate support but a proactive partner, shaping solutions and advancing sustainable development,” he stated.
BY JULIUS YAO PETETSI
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