Green Finance Taxonomy will enhance resource mobilisation for investment – Dr Dery
The Director of Environment at the Ministry of Environment, Science, Technology and Innovation, Dr Peter Dery, has observed that the recently launched Green Finance Taxonomy will help enhance the country’s strategy to mobilise resources to support green investment.
He commended the Ministry of Finance (MoF) for the initiative noting that “this will prevent greenwashing and this is why the Ministry of Environment, Science, Technology and Innovation (MESTI) fully endorses this initiative.”
Greenwashing is the act of making false or misleading statements about the environmental benefits of a product or practice.
Dr Dery, speaking at a meeting organised by the Finance Ministry on the sidelines of the ongoing COP 29 in Baku, Azerbaijan, cited several instances where MESTI had turned down project documents because thorough assessment of those projects’ methodologies and baselines revealed clear instances of greenwashing.
“So MESTI will use this Green Finance Taxonomy launched by the Ministry of Finance to revise existing policies and frameworks to guide our selection for green investment in Ghana and help reform our own architecture towards attracting green investment,” he assured.
Dr Dery called on relevant institutions such as the National Development Planning Commission and other regulatory agencies to institutionalise policies and legislations to back the main objectives of the Green Finance Taxonomy to “ensure effective industry compliance and prevent greenwashing
The post Green Finance Taxonomy will enhance resource mobilisation for investment – Dr Dery appeared first on Ghanaian Times.
