Ghana launches $550 bn net-zero plan

26 September 2023

Ghana has launched a USD 550 bn Energy Transition and Investment Plan aimed at achieving net-zero emissions, and expecting to create 400 000 jobs by 2060.

The plan details a credible pathway showing how Ghana can achieve net-zero energy-related carbon emissions by 2060 through the deployment of low-carbon solutions across key sectors of its economy, including oil and gas, industry, transport, cooking, and power.

The government intends to use the plan as its main tool to engage the international community and investors for support with its energy transition. The country's existing Energy Transition Framework had set a target of net zero by 2070, but with the new plan shows Ghana has raised its level of ambition and is targeting net zero by 2060.

Various sectoral changes and technologies are proposed in the plan. Four main decarbonisation technologies – renewables, low-carbon hydrogen, battery electric vehicles and clean cookstoves – would cover over 90 % of the targeted abatement by 2060.

Without pursuing the plan, under a business-as-usual scenario, Ghana's emissions are expected to rise from 28 Mt CO2e in 2021 to over 140 Mt in 2050, with the bulk of emissions growth coming from transport, driven by population growth, GDP per capita growth, and vehicle ownership.

Ghana’s government believes that with its partners it can bring the country's energy-sector-related carbon emissions to net zero while demonstrating that action against climate change does not need to come at the expense of economic development. The new plan was developed by the government of Ghana with technical support from Sustainable Energy for All (SEforALL).

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