The good news is that Ghana now has a golden opportunity to develop a comprehensive and context-specific plan for navigating the global energy transition. In response to COP26 and Ghanaian CSOs’ demands for a national energy transition policy, the government launched the National Energy Transition Committee in December 2021. The committee is tasked with developing a national policy document on steps the country can take to successfully navigate the global energy transition.
The wealthiest countries that have polluted the most should hold the primary responsibility for tackling climate change, both in cutting their emissions first and fastest, and in providing climate finance and support to countries like Ghana. Ghana’s President Nana Akufo-Addo emphasised this responsibility during COP26 when he called for a fair and equitable solution that “recognises the historical imbalances between the high emitters and low emitters.
At a minimum, the government should avoid making bad decisions — those that threaten the country’s economic and fiscal outlook. But Ghana’s record does not inspire confidence. In the last decade, the government has allocated $2 billion to the Ghana National Petroleum Corporation . These investments have financed equity stakes in exploration, development and general operations in oil-producing fields.