{"id":251210,"date":"2024-11-15T07:13:43","date_gmt":"2024-11-15T07:13:43","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/15\/finance-ministry-unveils-new-initiatives-at-cop29-finance-day\/"},"modified":"2024-11-15T07:13:43","modified_gmt":"2024-11-15T07:13:43","slug":"finance-ministry-unveils-new-initiatives-at-cop29-finance-day","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/15\/finance-ministry-unveils-new-initiatives-at-cop29-finance-day\/","title":{"rendered":"Finance Ministry unveils new initiatives at COP29 Finance Day"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/159\/15943604.295.jpg\" alt=\"Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana\u2019s Ministry of Finance\" title=\"Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana\u2019s Ministry of Finance\" width=\"295\" height=\"286\" \/> <span class=\"image_caption\"><span>Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana\u2019s Ministry of Finance<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">Mrs. Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana&#8217;s Ministry of Finance, has emphasized the country&#8217;s ambitious plans to mobilize climate finance in the face of global economic challenges.<\/p>\n<p>Speaking at a side event dubbed &#8220;Finance Day&#8221; at the ongoing COP29 in Baku, Azerbaijan, under the theme, &#8220;Collaborative Pathways to Green Growth: Revolutionizing Climate Finance in a World of Fiscal Challenges,&#8221; Mrs. Fraikue stressed the urgency of climate-resilient development in a post-COVID-19 world.<\/p>\n<p>Highlighting Ghana&#8217;s efforts to address climate risks while maintaining fiscal responsibility, she reiterated the role of the newly established Climate Financing Division. This division, she explained, is central to Ghana&#8217;s Climate Prosperity Plan, which aligns national development with global climate goals and attracts both public and private investments for green growth.<\/p>\n<p>&#8220;The division&#8217;s vision,&#8221; Mrs. Fraikue emphasized, &#8220;is to foster a sustainable financial ecosystem that will drive low-carbon development, enhance resilience, and position Ghana as a model for climate finance.&#8221;<\/p>\n<p>Recognizing Ghana&#8217;s ongoing fiscal challenges, exacerbated by global economic disruptions since 2022, she highlighted the importance of innovative financial mechanisms such as debt-for-climate and debt-for-nature swaps.<\/p>\n<p>The occasion was used to showcase the Finance Ministry&#8217;s new Ghana Green Finance Taxonomy, a framework designed to direct funding to environmentally responsible projects, making Ghana a regional leader in sustainable finance.<\/p>\n<p>Through these tools and sector-based incentives, Ghana aims to unlock private capital for low-carbon development, minimizing the national debt burden.<\/p>\n<p>Mrs. Fraikue concluded with a call for robust partnerships, stronger transparency, and accountability in climate finance to safeguard both natural and physical assets. &#8220;Let us seize this moment to foster collaboration, leverage innovation, and build a sustainable future for all,&#8221; she urged.<\/p>\n<p>She said the Ministry of Finance has been actively engaging stakeholders for stronger financial and technical partnerships in line with the Nationally Determined Contributions.<\/p>\n<p>This event showcased Ghana&#8217;s commitment to mobilizing climate finance resources, as well as its collaborative approach to strengthening resilience and advancing sustainable development.<\/p>\n<p>The COP29 Finance Day event is expected to catalyze further discussions on innovative financial solutions and the future of climate finance amid global fiscal constraints.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana\u2019s Ministry of Finance Mrs. Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana&#8217;s Ministry of Finance, has emphasized the country&#8217;s ambitious plans to mobilize climate finance in the face of global economic challenges. Speaking at a side event dubbed &#8220;Finance Day&#8221; at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":251211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-251210","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Finance Ministry unveils new initiatives at COP29 Finance Day - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/11\/15\/finance-ministry-unveils-new-initiatives-at-cop29-finance-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry unveils new initiatives at COP29 Finance Day - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana\u2019s Ministry of Finance Mrs. Phyllis Adwoa Fraikue, Director of the Climate Financing Division in Ghana&#8217;s Ministry of Finance, has emphasized the country&#8217;s ambitious plans to mobilize climate finance in the face of global economic challenges. 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