Climate Financing

Background

The strategic role of the Climate Financing Division (CFD) is to mobilize and manage financial resources to support Ghana's climate-resilient development agenda. The Division is pivotal in ensuring that climate finance initiatives are effectively aligned with national and international climate objectives, such as the Sustainable Development Goals (SDGs), the Paris Agreement, and Ghana's Nationally Determined Contributions (NDCs). The Division also facilitates the mainstreaming of climate change and green economy issues into national planning to promote sustainable development.

Vision

To be a globally recognized leader in mobilizing and managing climate finance, driving Ghana’s transition to a sustainable, low-carbon, and climate-resilient economy, while fostering innovation, partnerships, and impactful investments for the well-being of current and future generations

Mission

To mobilize, allocate, and manage financial resources effectively to support Ghana’s climate action agenda, fostering partnerships, enabling innovative financing solutions, and ensuring transparency and accountability in delivering sustainable and climate-resilient development outcomes.

Core values

Professionalism, Efficiency, Ethical Standards, Responsiveness, Innovation, Impact Oriented, Excellence, Transparency and Accountability.
Objectives
In fulfilling the mission of mobilising, allocating, and managing financial resources effectively to support Ghana’s climate action agenda, fostering partnerships, enabling innovative financing solutions, and ensuring transparency and accountability in delivering sustainable and climate-resilient development outcomes, the Climate Financing Division has the following strategic objectives:

  • Resource Mobilization

    • Secure concessional financing, engaging with climate funds like GCF, and fostering private and philanthropic partnerships to unlock green investments.

  • Policy Development and Alignment

    • Promote climate investment policies, aligning fiscal strategies with sustainability, and ensuring compliance with the Paris Agreement.

  • Project Development
  • Prepare bankable green projects and providing technical assistance to enhance investment readiness.
  • Capacity Building

    • Efforts include building stakeholder capacity and providing training on climate finance management.

  • Monitoring, Reporting, and Transparency

    • Efforts involve tracking financial flows, publishing transparent reports, and developing KPIs to measure climate finance effectiveness.

  • Risk Mitigation and De-Risking Investments

    • Efforts focus on de-risking green projects and promoting blended finance to attract private sector investment.

  • Strategic Advocacy and Partnerships

    • Efforts include coordinating climate finance across government entities and advocating for fair funding in international forums.

    CORE FUNCTIONS

  • Advice on climate change and green economy issues and policies.
  • Collaborate effectively with relevant stakeholders for the development and implementation of climate change, green economy and environmental policies, programmes and projects in the country.
  • Facilitate the process of climate and green sensitive budgeting that promotes transparency and accountability in public finance management.
  • Track and build a database of climate funds disbursed by Development Partners (DPs) and other sources and received by MDAs/MMDAs to be reported to the UNFCCC during the annual Conference of Parties (COPs).
  • Collaborate with relevant stakeholders in resource mobilization for implementation of climate change and green economy policies, programmes and projects in the country.
  • Serve as a frontier for managing both domestic and international climate change assistance.
  • Identify, develop and ascertain pipeline of climate resilient projects to attract investments.
  • Assist with the development of policy frameworks, ensuring compliance and reforms that promote transparency and accountability in natural resource governance or management.
  • Monitor and analyse budget performance of MDAs in respect of climate change and green economy programmes and or projects..

    • UNITS

    Climate Policy Development and Compliance (CPDC)
    Design, align, and monitor climate finance policies and frameworks that facilitate investment, compliance with international agreements, and the de-risking of climate-related projects.
    Green Project Development and Investment (GPDI)
    Identify, develop, and structure a pipeline of bankable climate-resilient projects, ensuring their readiness to attract investments from public and private sectors.
    Research, Monitoring, and Reporting (RMR)
    Generate actionable intelligence, track the effectiveness of climate finance initiatives, and provide transparent reporting to build stakeholder confidence.
    Climate and Green Finance Resource Mobilization (CRM)
    Secure financial resources for climate action through innovative mechanisms, partnerships, and access to international climate funds.

    SECRETARIAT

    Ghana Extractive Industry and Transparency Initiative (GHEITI)
    Develop policies and guidelines that ensure transparency and accountability in the operations, payments, and receipts of extractive industry entities. Review all GHEITI reports and monitor to ensure the implementation of the recommendations of the reports by relevant institutions.