Accra: Fidelity Bank's annual Sustainability Conference is set to commence on Wednesday, August 27, marking the culmination of the Bank's Sustainability Month. The event aims to reinforce Fidelity Bank's commitment to providing financial tools and strategic guidance essential for building a climate-resilient economy in Ghana.
According to Ghana News Agency, the conference will assemble experts from various fields to offer practical insights on accelerating Ghana's climate finance agenda through strategic partnerships and innovative financial solutions. Leading up to the conference, Fidelity Bank organized three webinars for its customers, staff, and partners under the theme 'Aligning Finance with Climate Action.' These sessions provided a platform for experts to discuss the integration of climate considerations into financial strategies.
In one of the discussions titled 'Just Energy Transition: Who Wins and Who Loses,' energy expert Ms. Efua Nyamekye Appiah addressed the complexities of transitioning from fossil fuels to clean energy in a manner that is fair and inclusive. She pointed out that while the transition could create jobs, improve public health, and expand access to affordable energy, it also posed challenges such as job losses in traditional energy sectors and potential increases in energy costs for vulnerable populations. Ms. Appiah stressed that achieving a just transition necessitates coordinated efforts, thoughtful policies, and a commitment to equity and sustainability.
Mr. Gerhard Muda, CEO of Climate Risk Services, led a discussion on 'Climate Proofing Portfolios,' emphasizing that climate change is a present-day reality with significant impacts on businesses and daily life. He highlighted Ghana's vulnerability to climate risks, such as drought and extreme rainfall, which threaten key sectors like agriculture. Mr. Muda underscored the need to integrate climate resilience into financial planning to protect investments and ensure long-term stability.
Addressing 'Net Zero Concepts and Business Implications,' Mr. John Tawiah, Africa Lead for Sustainable Finance Advisory at KPMG Africa, discussed how businesses across Africa are planning transitions toward net-zero emissions. He urged companies to adopt the 'triple bottom line' framework, incorporating environmental and social responsibility alongside financial metrics. The discussion highlighted the necessity of context-specific approaches, alignment with policy frameworks, and scalable solutions for effective and resilient transition pathways.
The conference will feature discussions moderated by Dr. Abena Nyarkoa Asomaning of Ghana EXIM Bank on 'The Current State of Sustainable Banking: Mobilising Private Sector Capital for Climate Action in Ghana.' Another panel, titled 'Climate Finance and the Real Economy,' will be moderated by Mina Agyemang, Manager for UN Global Compact's Participants Engagement and Outreach.
