Energy expert urges strategic response to US withdrawal from Paris Agreement

The U.S. withdrawal from the Paris Agreement presents opportunities and challenges for Ghana, as highlighted by Denis Gyeyir, Africa Senior Programme Officer at the Natural Resource Governance Institute (NRGI).

He noted potential funding increases for hydrocarbon investments due to reduced climate funding but cautioned against over-reliance on hydrocarbons. Long lead times for hydrocarbon projects and the risk of funding withdrawal if the U.S. re-engages in climate action were emphasized.

Gyeyir advocated a balanced strategy to revamp Ghana's oil sector while investing in renewable energy and electric vehicles. Civil Society Organizations (CSOs) echoed this sentiment, calling for a national energy transition strategy and a high-level coordinating body.

They also urged regulatory reforms to boost renewable energy and integrate green minerals into Ghana's energy transition plan, ensuring sustainability and economic resilience.