Regulators Urged to Establish Climate Financing Policy Framework

At the “Ring the Bell for Climate Change” event hosted by the Ghana Stock Exchange, Kweku Lacroix, Executive Director of the UN Global Compact Network, emphasized the need for financial sector investors to focus on Sustainable Development Goals (SDGs).

This annual event aims to raise awareness about climate change and SDGs, bringing together executives from listed companies and development partners to share successful climate initiatives.

According to the UN Global Compact Network in Ghana, the financial sector can establish fundamental frameworks that make it easier for businesses focused on sustainability to secure funding.

Lacroix highlighted the financial sector’s crucial role in advancing this agenda, stating, “Today’s event demonstrates the transformative potential of finance and collaboration. The Ghana Stock Exchange, alongside its global counterparts, is stepping up to tackle one of our era’s most urgent challenges: climate change.”

He pointed out that capital markets are uniquely positioned to drive sustainable change, noting, “This is more than just a financial responsibility; it is a moral obligation.”

In his keynote address, Frank Berle, Deputy Managing Director of the Ghana Stock Exchange, reaffirmed the event’s significance in supporting Ghana’s climate agenda. “The Ghana Stock Exchange is committed to promoting climate-friendly developments, which inspired our collaboration with the World Federation of Exchanges to organize the second Ring the Bell for Climate event, coinciding with COP29 this year,” he said.

Additionally, the event featured exhibits from students showcasing products made from recycled materials, highlighting innovative ways to protect the environment. The largest rooftop solar project by LMI Holdings, located at the Freezones Enclave in Tema, was also showcased as the country’s premier renewable energy initiative.