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Business News of Wednesday, 23 February 2022


Bawumia rallies support for other sources of energy to reduce emissions

Vice President, Dr. Mahamudu Bawumia delivering his address at the Energy Summit Vice President, Dr. Mahamudu Bawumia delivering his address at the Energy Summit

Vice President Dr. Mahamudu Bawumia, says with the increasing prices of fuel products on the global market, it is important for Ghana to develop new strategies and explore other sources of energy to reduce emissions.

He has therefore commended the Ministry of Energy for championing the path to attaining a net-zero future for the energy sector.

Vice President Bawumia, who was addressing the First National Energy Transition Plan Forum in Accra, said the effects of global warming have become evident, especially, with the changes in weather patterns amidst natural disasters, such as hurricanes and floods.

He reiterated the government’s commitment to ensure that Ghana attains the best in the drive towards sustainable energy.

With the staggering effects of climate change, efforts are being put in place all over the world to reduce its negative impact.

Ghana’s National Energy Transition Plan forum is aimed at collating views on how Ghana can move towards sustainable energy in line with efforts towards the global shift from carbon-based systems of energy production and consumption such as oil, coal and wood fuel to clean energy sources like wind, solar and nuclear.

This will help reduce carbon dioxide emissions towards net-zero. Statistics show that Ghana emits about 0.12% of the world’s emissions.

However, there is the need to control the growth of greenhouse emissions and also commercialize renewable energy to rake in more revenue.

Vice President Bawumia said Ghana must increase its natural gas base electricity by expanding gas pipelines and increasing access to gas.

He outlined some measures the government will take to ensure clean energy sources.

Minister of Energy, Dr Matthew Opoku Prempeh explained the rationale behind the forum calling for more investment into the energy sector.

Minister of Finance Ken Ofori-Atta in a remark said Ghana faces a crucial choice in the oil and gas sector in order to reap the full benefits.

He stressed that although achieving a net-zero future is key, it should not be done at the expense of the country’s development.

The forum which is the first of many to be held across the country over the next two months focused on moving Ghana towards a net-zero future.