Civil Society Organisations (CSOs) have called on the next government to enforce the Petroleum Revenue Management Act (Act 815) to leverage the country’s revenue to finance its energy transition.
The CSOs called on the government to leverage the country’s vast forests to obtain carbon credits from other nations or large emitting companies through carbon trading.
This is key for raising additional finance to invest in green technologies.
Denis M. Greyer, African Senior Programme Officer, Natural Resource Governance, said this at a dialogue on post-Manifesto Engagement with Political Parties in Accra.
The National Democratic Congress (NDC) manifesto on energy transition pledged to implement an energy transition strategy to augment thermal and hydropower production with nuclear and other renewable energy sources.
The New Patriotic Party’s (NPP) plan is to provide leadership and investments in the energy transition, local content, and cybersecurity preparedness of the energy sector.
The Movement for Change promised to review the energy sector strategy and transition plan to respond to current challenges in the sector.
Mr Gyeyir said the next government should commit to a more ambitious transition timeline and be more purposeful at attracting investment into the renewable energy sector.
The next government should develop a comprehensive, clear, and transparent fiscal regime towards incentivising investments in the green and critical mineral sectors.
This will discourage further investment in high-carbon emission sectors and encourage attention to low-carbon and green sectors.
On upstream and downstream petroleum and gas sectors, Mr Gyeyir called for stable and reliable crude oil supply to local refineries through the operationalisation of Article 15 of the petroleum agreement.
The CSOs called for increased capacity utilisation at Tema Oil Refinery (TOR) and other refineries and reduced importation of refined petroleum products.
The NDC policy on the sector is to review private investments to revitalise TOR and expand its operations.
The NPP plan is to expand the Gold for Oil programme to increase its penetration of the oil market to further reduce the forex pressure on the Bank of Ghana.
Dr Tony Aubin, who represented the NDC, said the party intended to address misuse and misapplication of the country’s resources to finance the manifesto on the sectors.
He reinforced the party’s commitment to partner with the private sector to complement holistic development in the sectors of the economy.
Solomon Owusu, representing the Movement for Change, pledged to make corruption an expensive enterprise for all and channelled such monies to other development activities.
The forum also touched on sectors including environment and climate change and anti-corruption.
Latest Stories
-
NLC scheduled to discuss organised labour’s impending strike over Galamsey today
49 mins -
Ghana Manganese Company mulls $450m refinery to boost revenue, create jobs
1 hour -
Roland Amartey, a force behind ‘The New False’ by Lekzy DeComic
2 hours -
“We remain of the view that NDC will win December elections”- Fitch Solutions
2 hours -
‘The church must speak with one voice on galamsey fight’ – Sam George
2 hours -
AFCON 2025Q: CAF approves Accra Sports Stadium for Ghana vs Sudan
2 hours -
EC insists Bernard Monarh and 10 others were disqualified for valid reasons
2 hours -
TotalEnergies Ghana leads beach clean-up and environmental awareness initiative at Wiaboman Beach
2 hours -
Companies fleeing Ghana due to economic mismanagement under Akufo-Addo – Mahama
2 hours -
Government to replace 2,225 homes destroyed during Akosombo Dam Spillage
2 hours -
Mahama seeks clergy’s backing to rescue ‘Ghana from leadership failure’
2 hours -
RTI has strengthened Ghana’s commitment to accountable governance – Akufo-Addo
2 hours -
Côte d’Ivoire raises cocoa price above Ghana
2 hours -
Alan vows to impose life sentences on ‘galamseyers’ when elected
2 hours -
Akufo-Addo’s government lacks humility to accept wise counsel – Mahama
2 hours