The Paris Agreement marked a pivotal moment in the global battle against climate change, urging nations to take concerted actions to combat this pressing environmental threat.
As a committed signatory to the Paris Agreement, Ghana has demonstrated its dedication to combating climate change by developing a long-term framework for the energy sector.
Given that electricity and heat production are major contributors to carbon emissions, the energy sector assumes a crucial role in the transition towards a net-zero future.
The primary goal of the transition framework is to decarbonize the energy sector and achieve net-zero emissions by the year 2070.
A fundamental principle of this transition framework is the anticipation of a significant reduction in carbon emissions. It projects 200MtCO2-eq emission reduction (Energy Transition emission – 14.5MtCO2-eq) and guarantees the best fuel supply security through a diversified fuel mix, including natural gas and nuclear energy.
Noteworthy highlights include:
- Access to and commercialization of the green trade market (21GW of installed capacity);
- Attainment of universal access to electricity – 99.8% by 2030;
- Reduce long-term cost of electricity generation – below 4.5cents/kWh;
- Meets future electricity demand of 380,000 GWh (83GW install capacity) due to fuel switch;
- Mitigation of energy-related indoor air pollution and its related illnesses – 48,218 premature deaths avoided due to improvement in air quality and health;
- Realisation of 30.05 million productive hours gained from the expanded adoption of clean cooking fuels, significantly benefiting women and children, who are the primary gatherers of firewood;
- Creation of new job opportunities estimated at 1,404,702 due to the introduction of new technologies such as Carbon Capture, Utilization and Storage (CCUS), Nuclear, Hydrogen, and EV charging stations;
- Attainment of a just and equitable transition both in universal access to electricity and the exploitation of our natural resources to support economic development; and
- Projected financing requirement estimated at US$562 billion.
By actively mitigating carbon emissions, countries can create more resilient and sustainable societies. Ghana's National Energy Transition Framework serves as a beacon of hope in this regard, exemplifying the nation's commitment to fostering positive change.
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