Projects

Our activities in Ghana are part of the Global Project Sustainable Economic Transformation and Sustainable Finance.

In October 2024, Ghana launched West Africa’s first Green Finance Taxonomy, a multi-stakeholder framework designed to direct capital towards environmentally sustainable activities. It is aligned with Ghana’s national climate and development priorities, including its Nationally Determined Contributions, National Adaptation Plan, Energy Transition Plan and Climate Prosperity Plan. Drawing on international classifications and standards such as ISIC and ISO, the taxonomy also incorporates Do No Significant Harm (DNSH) principles and minimum social safeguards.

Implementation is overseen by a Technical Committee chaired by the Ministry of Finance and Economic Planning. The completion of Phase I, which established qualitative criteria for selected sectors, has provided a credible foundation for the taxonomy’s further development. However, there is a need to broaden sectoral coverage and introduce quantitative technical screening criteria that provide greater clarity and consistency in determining which economic activities qualify as environmentally sustainable, which the stakeholders seek to develop in Phase II of the taxonomy development. Further priorities include strengthening DNSH criteria and developing the taxonomy’s adaptation and resilience components as part of the Phase III of taxonomy development.

Development of quantitative technical screening criteria for selected sectors of Ghana Green Finance Taxonomy Phase II

• Development of technical screening criteria based on their contribution to climate change mitigation, Do No Significant Harm (DNSH) Principles, and social safeguards for the sectors “water, waste and construction”
• Capacity-building for technical expert groups and relevant government officials on taxonomy development

Support Phase III of the Ghana Green Taxonomy

• Development of technical screening criteria for mitigation activities in the sectors mining, manufacturing, IT and ecotourism, including DNSH criteria and minimum social safeguards
• Development of an adaptation and resilience framework, covering eight priority economic sectors, establishing clear activity classifications for climate resilience
• Review of existing DNSH criteria and development of strengthened requirements
• Facilitation of the public consultation for the draft taxonomy

Support implementation of the Ghana Green Taxonomy

• Development of a strategic roadmap for taxonomy operationalisation, outlining the pathway from taxonomy publication to market adoption
• Creation of guidance documents and templates for regulators, financial institutions, and other taxonomy users
• Conduction of pilots for the implementation of the Ghana Green Taxonomy with financial institutions in Ghana

Building capacities for sustainable finance

• Conducting training courses for banks in Ghana in the context of the PRB Academy

• Ghana Green Taxonomy Phase II (Finalised October 2025)
• Ghana Green Taxonomy Phase III
• Implementation Roadmap for Ghana Green Taxonomy