UGBS Professor of Finance Delivers Inaugural Lecture on Rethinking Development Finance for Climate Action

UGBS Professor of Finance Delivers Inaugural Lecture on Rethinking Development Finance for Climate Action

Professor Joshua Y. Abor, a renowned Professor of Finance at the University of Ghana Business School (UGBS), delivered an inaugural lecture on "Rethinking Development Finance for Inclusive Green Finance: Are There Financial Stability Implications?" at the Ghana Academy of Arts and Sciences (GAAS) on Thursday, 27 th June 2024.

The lecture, chaired by Prof. Joseph R.A. Ayee, Vice President of GAAS (Arts Section), focused on the critical role of development finance in addressing climate change and financial exclusion, and its implications for financial stability.

Prof. Abor emphasised the importance of sustainable finance for climate action, highlighting the insufficient efforts to achieve global climate goals. He stressed that climate action is not only an environmental stewardship but also a sound economic policy.

The lecture covered key topics, including the challenges of climate change risk and financial exclusion, conceptualising inclusive green finance, and the role of development finance institutions (DFIs) in supporting inclusive green finance. 

Prof. Abor also noted that DFIs play a critical role in addressing climate change and financial exclusion, and their efforts have financial stability implications. He emphasised the need for efficient management of natural resources, promoting intra-regional trade, exploring voluntary and compliance carbon markets, and reforming the Global Financial Architecture. 

The lecture was attended by students from various Senior High Schools, professors, and individuals from various sectors. Prof. Joseph R.A. Ayee commended Prof. J. Y. Abor for his insightful lecture and emphasised the need for robust policies to tackle climate change and financial resilience. 

The event highlighted the importance of rethinking development finance to address the challenges of climate change and financial exclusion. It also included the critical role of DFIs in promoting inclusive green finance and financial stability.