Gov’t Assesses Sovereign Carbon Initiative To Mobilise Climate Finance

The Minister of State for Climate Change and Sustainability, Hon. Seidu Issifu, has convened a high-level technical meeting of key stakeholders to assess the proposed Sovereign Carbon Initiative.

The meeting was also used to explore how Ghana can leverage the platform to mobilise additional resources to finance climate action.

The proposed initiative focuses particularly on the aviation and maritime sectors, exploring a carbon contribution mechanism based on the polluter-pays principle.

This is envisioned to ensure that resources mobilised contribute directly to Ghana’s climate, environmental and sustainable development priorities.

The meeting brought together representatives from the Environmental Protection Authority (EPA), Ministry of Finance, Ministry of Transport, Ghana Maritime Authority, Ghana Civil Aviation Authority and the Attorney-General’s Department, among other stakeholders, to examine the technical, legal, financial and institutional implications of the proposal.

The engagement forms part of Government’s efforts to explore innovative and sovereign financing mechanisms that can unlock new resources while accelerating Ghana’s climate action and transition agenda.

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