Green economy implementation in Ghana as a road map for a sustainable development drive: A review

Abstract

Green economy development strategies and the transition from conventional economic development models to green economy has become necessary due to the negative impact of conventional economic development models on the local and global environment. Despite Ghana's effort to transition to green economy that is made evident by the implementation of a number of green economy related policies and strategies, the country is yet to record any significant achievement in that regard. This study therefore used the SWOT analytical tool to access the strengths, weaknesses, opportunities, threats of Ghana's green economy transformation efforts. The results revealed that the country's geographical location, environmental policies, potential for green energy mix, a young and dynamic population, the country's effort to reduce poverty levels and illiteracy rates are the main strengths. However, factors such as weak institutions, inadequate funding for green technologies innovations, inadequate long term policies for green strategies and inadequate political will are some key weaknesses. The study further found commercial interests in driving the development and transfer of green technology, cross-border collaborations and global attention to climate change, local and international support for green economy, awareness and understanding of environmental protection as some of the major opportunities. Inadequate commitment to support technology development and transfer, cost of green technologies, increasing threat of climate change and corruption were identified as threats to Ghana's effort to green its economy. In conclusion, it is imperative that policy makers develop strategies that can help take advantage of the strengths and opportunities while serving as solutions to the weakness and threats. Among other things, it is important for policy makers to prioritize science and technology education to support green economy development.