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The Vice President, Dr Mahamudu Bawumia, has launched Ghana’s Sustainable Banking Principles and Sector Guidance Notes.
They consist of seven (7) general Principles and five (5) Sector Specific Guidance Notes and present sustainable banking as a two-way interrelated imperative aimed at improving the contribution of finance to sustainable and inclusive growth by funding society’s long term needs; and strengthening financial stability by incorporating environmental, social and governance (ESG) factors in lending decision-making.
The five Sector-specific Guidance Notes on priority areas of the economy cover the Agriculture & Forestry, Mining and Oil & Gas, Construction and Real Estate, Power and Energy, and Manufacturing activities as related to the banking portfolios.
The Principles are to assist banks to respond to the emerging global megatrend issues, such as human security, anti-money laundering, socially responsible stewardship, information communication transparency and disclosure, corporate integrity, environmental and climate change.
They will initially be applied to universal banks and subsequently broadened to include rural banks, savings and loans institutions, microfinance institutions and all the categories of non-bank financial institutions.
Launching the Principles and Notes in Accra on Wednesday, 27th November 2019, Vice President Bawumia emphasised that Ghana’s banking sector needed to be in step with the rest of the world in addressing the challenges arising from climate change.
“Financial institutions must include climate disruption issues or inclement weather into their risk management and reporting. It is becoming more and more imperative for sustainability issues to be incorporated into the responsibilities and reporting of market actors to guide their decision making.
“There is no doubt that environmental risk – and risk arising from climate change in particular – constitutes a significant systemic risk for the financial sector. Such fundamental changes in the environment could affect economic and financial stability and the safety and soundness of financial firms, with clear potential implications for central banks.
“In this context, the Government of Ghana announced that it will implement measures to undertake climate change and green economy programmes and projects, which will promote a clean environment, increase job creation and accelerate poverty reduction.
“These focus areas are in line with SDG2 for Zero Hunger, SDG3 for Good Health and Well-being, SDG5 for Gender Equality, SDG6 for Clean Water and Sanitation, and SDG7 for Affordable and Clean Energy.”
Already, Ghana has introduced climate risk management in agriculture by setting up the Ghana Incentive Based Risk Sharing System for Agricultural Lending, he added.
Vice President Bawumia lauded key stakeholders in Ghana’s financial sector for putting together such a key document to guide the nation’s banking and finance sector.
“This document is a very comprehensive one, providing guidance for the use and applicability of the Principles. Inherent risks and opportunities in the relevant applicable sectors have also been comprehensively drawn up. It is heart-warming that it is the Central Bank, the Bank of Ghana which has spearheaded this great transition into introducing sustainability in our banking practices.
“I’m glad to note too that while reflecting our peculiar Ghanaian circumstances, they have been aligned to international best practice. I say a big Ayekoo to the three collaborating institutions, Bank of Ghana, Ghana Association of Banks and the Environmental Protection Agency.”
The President of the Ghana Association of Banks, Mr Alhassan Andani, assured that having been part of the crafting process, “we (banks) pledge our commitment to the full implementation of these guidelines.”
Source: Peacefmonline.com
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A. UPPER WEST 1. Construction of 160-bed Upper West Regional Hospital in Wa 2. Rehabilitation and upgrade of Wa Airstrip into Airport to support domestic flights 3. Construction of Upper West Regional library 4. Wa Town Urban water project 5. Construction of 64 CHPS Compounds 6. Four (4) Health Training Institutions (Nandom, Lawra, Tumu and Kperisi in Wa) 7. New Senior High Schools in Gwollu, Funsi and Birifo 8. Eight number E-Blocks. (Lambussie, Loggu, Dorimon, Zini, Naro, Domwin Boo, Konzokala and Wellembelle) Lambussie and Loggu operational now and the remaining six abandoned at various stages by the NPP 9. Elimination of forty schools under trees 10. Five Polyclinics (Wechau, Babile, Ko, Lambussie and Hian) 11. 74 GSOP Dams and labour intensive access roads 12. Construction of a military barracks to host the Airforce detachment in Wa. 13. 641 Communities connected to the National grid under SHEP and China Water Project 14. 8 number small town water project for Wechau, Manwe, Goripie, Kpongu, Piina, Nator, Sombo and Wellembelle 15. 4 number warehouses and pack housing for grains and vegetable storage at Sombo, Gwollu, Eremon and Yagha B. UPPER EAST 1. Rehabilitation and expansion of Upper East Regional Hospital to meet world standards 2. Bitumen surfacing of Bolga to Bongo road 3. Rehabilitation and modernization of Tono and Vea Dams through GCAP 4. Construction of Navrongo and Bawku Town Water systems 5. Construction of 1000 tonnes capacity warehouses for storage of farm produce at Wiase, Bolgatanga, Sandema and Navrongo 6. Construction and rehabilitation of 86 small scale irrigation dams through GSOP 7. Construction of Tongo-Winkogo road 8. About 100 communities connected to the National grid through SHEP 9. Massive infrastructure in almost every Senior High School through SEIP 10. Construction of 70 CHPS Compounds to improve access to health in our rural communities 11. Expansion of infrastructure at St John Bosco College of Education, Gbewaa College of Education, Zourungo Nursing Training College and UDS Navrongo Campus. This has expanded access to Tertiary Education in the Upper East Region. 12. Constructed about 500 basic school blocks in the Region (the largest intervention to basic education in UER since independence) 13. Commenced the construction of the 112 km Bolga-Bawku- Pulmanko road 14. Commenced the construction of the Tamne large scale irrigation dam project to boost irrigation farming in Garu, Tempani, Pusiga, Bawku and Binduri 15. Navrongo to Tumu road (work was progressing steadily, but truncated by this government. C. NORTH EAST REGION 1. Establishment of the Gambaga College of Education 2. Construction of 57 km Walewale-Nalerigu road 3. Over 100 communities connected to the national grid 4. Construction of a storey building dormitory block and a six-unit classroom block at Bunkprurugu Senior High School 5. Construction of the Boayini bridge in West Mamprusi Municipaliy 6. Bitumen surfacing of Wiase to Yabaga road 7. Construction of small-town water systems at Kparigu and Tinguri 8. Construction of Nalerigu, Gambaga and Walewale town roads 9. Construction of 20 CHPS Compounds to boost access to health in rural communities within the Region 10. Boardinisation of Nankpanduri and Bunkpurugu Snr High Schools 11. Massive infrastructure within Senior High Schools to improve access through the SEIP Program 12. Office Complex for the Municipal Education Directorate at Walewale 13. A modern lorry station in Walewale 14. Construction of Assembly Hall Complex at Cherepony 15. Construction of District Assembly Complex at Yagaba in the Mamprugu/Moadur District D. NORTHERN REGION 1. Tamale to Techiman asphaltic pavement road 2. Tamale township asphaltic overlay 3. Asphaltic overlay of roads at Kamina barracks, Bawa Barracks and Tamale Airport residential area 4. Wulensi Kpandai roads 5. Nyankpala, Tolon, Tali road 6. Tamale South Township roads 7. Upgrading of Tamale Airport to an International Airport 8. Abuobu market reconstruction 9. Tamale old market reconstruction 10. 800 bed capacity Tamale Teaching Hospital phase 1&2 11. Polyclinics at Tatale and Kpandai 12. Health Training Schools at Yendi and Gusheigu 13. 18 ICT Centres across the Region 14. Water projects for Nantong, Savulugu, Tamale South, Tamale North, Sagnerigu and Kanvili Tuunayil 15. Rural electrification for about 1000 communities across the Region E. SAVANNAH REGION 1. Sawla Damango- Fufulso road (tarred with schools, markets and clinics for communities along the road) 2. Established a Senior High School in Sawla 3. Market complex at Sawla, Damongo,Busunu etc 4. 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5 years more God willing you will be sworn in as The President of Ghana.Piiiaawww
Kojo please this is documentation of some guidelines for banks to prevent what happened recently. OHH!!!!! sorry, NDC do not read. Got you. We will circulate a whatsup video (propaganda) version for you guys. lol
Another ***barred word*** folk from the propaganda divide. Shine your eyes. Ghana is moving forward. Cant you see?????
ohh Ghana incompetent vice and his ***barred word*** akofu addo will are only launching launchin and the people continue to suffer