Ghana has unveiled an ambitious Energy Transition and Investment Plan, signaling its heightened commitment to combat climate change and achieve net-zero energy-related carbon emissions by 2060. This plan represents a significant advancement from the country's previous Energy Transition Framework, which had set the target for net zero by 2070.
The comprehensive plan outlines a series of sectoral changes and cutting-edge technologies that will be pivotal in achieving this ambitious goal. It places a strong emphasis on four key decarbonization technologies: renewables, low-carbon hydrogen, battery electric vehicles, and clean cookstoves, which are projected to collectively contribute to over 90% of the targeted emissions reduction by 2060.
By embracing this roadmap, Ghana, in collaboration with its partners, aims to significantly reduce carbon emissions within its energy sector while demonstrating that environmental stewardship need not come at the expense of economic growth and development.
The Ghanaian government envisions utilizing this plan as a means to engage with the international community and attract investments for its energy transition initiatives. The plan lays out a spectrum of potential investments amounting to a substantial $550 billion.
Speaking at the Global Africa Business Initiative event in New York, Ghanian President Nana Akufo-Addo expressed, “This pioneering Energy Transition and Investment Plan maps out Ghana's journey to achieve net-zero emissions by 2060 based on the latest data and evidence, ensuring that as our economy thrives, it does so in harmony with the environment.”
He further emphasized, “This plan is a testament to our dedication to fostering green industries, nurturing the evolution of cutting-edge low-carbon technologies, and propelling our nation towards a sustainable industrial revolution while giving equal growth opportunities to men and women.”
