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Home Forex News

UAE commits $30m to support Ghana’s climate initiatives

by Tradinghow
September 29, 2024
in Forex News
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UAE commits m to support Ghana’s climate initiatives
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Image: Getty Images/ For illustrative purposes

The UAE and Ghana have unveiled a $30m partnership to bolster biodiversity and address climate change through community development initiatives.

The announcement was made following the signing of a letter of intent by Dr Amna Al Dahak, UAE Minister of Climate Change and the Environment, and Samuel A Jinapor, Ghana’s Minister of Lands and Natural Resources.

This collaboration falls under Ghana’s Resilient Ghana nature-climate strategy. It outlines six key investment areas, including biodiversity corridors, reforestation, and agroecology, all designed to generate simultaneous benefits for climate, biodiversity, and local communities.

Dr Al Dahak emphasised the UAE’s commitment to global environmental goals. “Our partnership with Ghana is a testament to our focus on biodiversity, climate, and development. This investment will enhance afforestation efforts and positively impact local livelihoods, fostering greater community engagement,” she said.

Supporting Ghana’s carbon reduction initiatives

Minister Jinapor highlighted the critical need for additional financial mechanisms to bridge implementation gaps in the country’s carbon reduction initiatives. “While Ghana is receiving carbon payments, we require comprehensive support to maximise emission reductions and enhance ecosystem protection,” he noted. “We are grateful to the UAE for its commitment to enhancing livelihoods and preserving our forests.”

The partnership also prioritises gender equality and youth involvement, aligning with the UAE Consensus established at COP28, which aims to halt and reverse deforestation by 2030. Additionally, it seeks to integrate climate strategies with the Kunming-Montreal Global Biodiversity Framework.

Razan Khalifa Al Mubarak, UN Climate Change High-Level Champion for COP28, who was present at the signing commented on the significance of the partnership, saying, “This initiative exemplifies the coordinated action needed to meet our climate targets while delivering on the Sustainable Development Goals (SDGs) and safeguarding biodiversity.”

Both nations plan to present details of their initial projects at COP29 in Baku this November and at COP30 in 2025.

The UAE and Ghana are also members of the Forest and Climate Leaders Partnership, further emphasising their commitment to global climate and biodiversity efforts.

Read: Environment Agency – Abu Dhabi’s Ahmed Baharoon on why environmental education is the way forward



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