In line with the objectives of the 2007 Bali Action Plan, the Government of Ghana (GoG) has identified 55 potential Nationally Appropriate Mitigation Actions (NAMAs) that will be used to achieve greenhouse gases (GHGs) emission reductions. These 55 NAMAs are focused on energy, waste, agriculture, forestry and industrial processes. The GoG foresees investments in the selected NAMAs to lead to the creation of effective carbon sinks and the reduction in GHG emissions, alongside achieve several co-benefits such as environmental sustainability, sustainable energy solutions, employment creation, sustainable food chains and poverty alleviation. The NAMAs provides an opportunity for the private sector (i.e. industries and technology partners, commercial banks and other private funds) to engage the GoG in the design, implementation and financing of the NAMA initiatives. The private sector has an opportunity to invest in Ghana’s NAMA activities on profitable, secure and creditworthy terms.
However, for the private sector to effectively develop the opportunities presented by the NAMAs, this will require building capacities and sensitization of businesses to perform the needed functions, acquire the appropriate technologies, and to invest financially in the implementation of NAMAs.
The Private Enterprise Federation (PEF), the Apex Business Council leads the private sector’s engagement in the NAMA governance mechanism. PEF recognizing the capacity shortfalls and lack of awareness of private businesses to the investment opportunities outlined in the NAMA projects, is advocating for the need to sensitize the business communities on the opportunities identified in the NAMA Investor Guide. The guide was developed by GoG with support from an expert working group composed of representatives from GIPC, PEF, and MESTI/ EPA, with support from UNDP LECBP to promote opportunities for business both private and public to invest in low carbon development initiatives in Ghana.
In line with the LECBP objectives and as part of initiatives to enhance private sector engagement, PEF will facilitate the implementation of Output 2 and Output 6, which are the promotion of the NAMA investor guide amongst the business community and the establishment of the business network for climate action respectively. The establishment of a NAMA private sector network/platform for interested businesses to network, build partnerships, share information, build capacities and position businesses to take advantage of the numerous opportunities outlined in the NAMA investor guide.
PEF aims to use this platform to garner private sector interest and support investments in low carbon initiatives that will ultimately contribute to GHG emission reductions and encourage the creation of green businesses.