Examining the Relationship between Sustainable Finance and Green Economic Progress in Ghana: The Stakeholders’ Perspectives

Abstract

Every economic development and progress entails wealth creation for the benefit of citizens sustainably. Sustainable development requires public and private investment in green assets and infrastructure that decreases carbon emissions, increases energy and resource efficiency, and preserves biodiversity and ecosystem services for humanity. Ghana is striving to transform its economic activities according to GE standards, although it faces challenges in meeting these standards. Moreover, adequate funding is limited or unavailable, especially for developing countries. This study uses a questionnaire survey to examine the relationship between SF and GE factors in Ghana. SF incorporates social and environmental issues into financial decision-making and performance. The result shows that the SFFs and the GEFs are significantly related. Ghana needs to strengthen its SF and GE policies from top to bottom to achieve remarkable green economic transformation and smooth transition.