From powering their factories with solar energy to reducing their emissions, big companies with a global footprint are helping to go green in the notoriously unstable country
How these companies going green in Ghana could pay off for the country and the planet
Investors, executives and entrepreneurs have been wowed by Ghana as it celebrates the successful launch of the world’s largest green bond, representing more than $1bn (£754m).
The benchmark-topping bond which included funds from Goldman Sachs, Enviva Partners and the Swiss Re Foundation helped tackle Africa’s energy and development deficits. Ghana is the fourth African country to be included in a list of the Green Bond 20×2020 programme, launched in 2010 to encourage innovative financing models for the planet’s most pressing environmental challenges.
While Ghana is still the weakest African economy in terms of per capita income and per capita energy consumption, the country has been seen as a model for how corporations can learn from its success in becoming a significant player in global business.
A CNBC interview following the launch of the bond seems to support this claim. Its presenter, Jamie Colby, suggested that before this week “nobody even knew that Ghana even needed to build a green bond”.
But she went on to report that Ghana’s successes come despite the country’s notorious vulnerability to climate and weather risks, and that all of the companies in the bond are in their 20th year of business in Ghana.
Private companies such as Varuna and Ecobank, which have a combined turnover of more than $3bn, are paving the way for an extended and profitable investment horizon for further green businesses.
• The columnists’ name has been changed to protect their privacy