Green economy implementation in Ghana as a road map for a sustainable development drive: A review

Examining the Relationship between Sustainable Finance and Green Economic Progress in Ghana: The Stakeholders’ Perspectives

“…In terms of access to health and utilities, more than 40% of the total population have health insurance, and 87% have access to safe drinking water [27]. These social and economic indicators show the improvement of Ghana's efforts toward achieving the SDGs [28]. However, Ogbonna [5] opined that transitioning to GE may be less complicated in some developed countries, with fewer hurdles than in developing countries such as Ghana.…”

“…Ghana is presently diversifying and transforming its economy to achieve SDGs number 17. Such efforts aim to promote socio-economic, techno-economic, and socio-environmental development [28]. However, sustainable financing for SD and green projects is low to moderate [31].…”

“…However, sustainable financing for SD and green projects is low to moderate [31]. Previous research works [28], [31]- [36] have attributed the performance of SF in a green economy to the performance of the following factors; green monetary policy, robust banking & financial system, green bond, financial aids, and FDI for green initiatives. Other SF factors include public-private funding, green fin-tech, green loans and mortgage, green procurement, green financial incentives, green tariffs, and taxonomy.…”

“…However, there is a paradox here; Ghana remains at the early stages of industrialization, and therefore GE transition and implementation may face opposition from other stakeholders. Thus a workable and pragmatic policy framework for GE in Ghana should embrace the needs, interests, and requirements of key players in major economic sectors by structurally balancing the impacts of the GE concepts [28], [31], [33]- [35]. A study by Ogbonna [5] led to the identification and assessment of 14 determinant factors for sustainable green economic development.…”

Incentives for Green Consumers on the Liberalised Energy Market of Romania in the Context of the Transition to Green Economy

“…Therefore, the consumer should be studied and understood in order to insure a successful liberalisation of the energy market (Jegen and Wüstenhagen, 2001;Owen, 2014). Moreover, given the long time which has passed between the target imposed in the ninties and the completion of the process in the year 2021 for Romania, the changing context is another subject which must be taken into consideration, namely the goal of transitioning towards a renewable energy based economy (Ali et al, 2021).…”