The Executive Development Unit (UGBS-ED) of the University of Ghana Business School (UGBS), in association with the United Nations Institute for Training and Research (UNITAR), has climaxed the Green Finance event by acknowledging the champions in Green Economy. The event took place on the 6th of July 2021 at the Graduate Building.
The Dean of UGBS, Professor Justice Nyigmah Bawole, indicated the aim of the event as recognising the champions of the green finance economy and encouraging them to go out and propagate their story. He intimated that, “What we seek to do within the broader scope is to establish how the country can focus on the most important things that drive business growth.” He also noted that the issues of climate change and environmental sustainability are the critical challenges that most small-scale businesses face today. The Dean further stated that he believes that small businesses are the ones that make a lot of contribution to the nation’s economic space, and must, therefore, be given enough recognition. He revealed that the major challenge that small businesses, mostly those in the Green Economy, face are the lack of understanding about the job. He further discloses that their focus is normally not on profit, although enough funds are needed to keep their jobs going.
Speaking on the purpose of gathering, Professor Albert Ahenkan, Associate Professor and an Environment and Sustainable Development Expert at the Business School, intimated that “the world has become very complex and unsustainable, but if we want to continue on the same trajectory especially in the way we develop and do things, we would not be able to achieve sustainable development”. He explained that most developed countries have transitioned to low-carbon development pathways and green economies to enable them achieve sustainable development. He, therefore, entreats all institutions in Ghana to support the Green Finance agenda which UGBS and UNITAR seek to collaborate to contribute their quota on. He further thanked all participants at the event for honouring the invitation to propagate Green Finance in Ghana and the world at large.
Presenting on the role of the Central Bank in promoting a Green Economy, Mr. Stephen Armah from the Bank of Ghana divulged those financial institutions that give out loans are all exposed in the micro-environment. Therefore, if the micro-environment deteriorates, it will reflect on the interest rate. He opined that it is very important for the central bank to come in to promote the agenda of green finance. He spoke on the social and environmental issues that could affect Sustainability and Green Finance in Ghana. He further indicated that the weather, population increase, and resource distribution are all major factors which should be looked at to contribute to the stability of the financial system of the country.
The meeting ended with a question-and-answer section which was moderated by Dr. Lordina Amoah of the Department of Finance.
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