Green Finance and Sustainable Development: Opportunities and Challenges in Ghana’s Financial Ecosystem
Year: 2025
Type: article
Abstract: Green financing is essential for achieving sustainable development in Ghana's financial system because it enables the harmonisation of environmental preservation and economic growth. Although Ghana is dedicated to this cause, several financial institutions have fallen behind in incorporating environmental economics. Hesitancy stems from a lack of incentives, which leads to disparities in comprehension and acceptance. This study uses descriptive statistics to ascertain obstacles and prospects. Although renewable energy finance holds promise, it faces obstacles, such as cultural and behavioural barriers, low public awareness, regulatory limitations, political uncertainties, corruption concerns, financial limits, and insufficient infrastructure. The findings emphasise the necessity of integrating financial and environmental practices to achieve sustainable development in Ghana, acknowledging the economic incentives behind this approach.
Author: Maxwell Asenso Boakye
Language: English
Subfield: Finance
Domain: Social Sciences
SDG: Climate action
Open Access status: diamond
OpenAlex ID: W4413405451