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Enhancing Economic Growth through Climate Finance: Evidence from Ghana

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  • Isaac Adom Boachie

    (Lecturer in Business Department, Accra Institute of Technology)

Abstract

This study explores the role of climate finance in fostering economic growth in Ghana, a nation increasingly vulnerable to the adverse effects of climate change despite contributing minimally to global greenhouse gas emissions. Using a case-oriented comparative design and drawing data from 105 key stakeholders across governmental and non-governmental institutions, the research identifies critical factors that can transform climate finance challenges into opportunities. Descriptive and regression analyses reveal that variables such as research and development, forestry and conservation, sustainable tourism, green finance accessibility, and inclusive development significantly influence economic growth. The study proposes the SEIMEF strategic framework—comprising strengthened policy, institutional capacity, access to finance, climate mainstreaming, international partnerships, and public-private collaboration—as a robust solution to enhance Ghana’s climate finance portfolio. The findings underscore that targeted climate finance strategies not only mitigate environmental risks but also drive inclusive and sustainable economic development.

Suggested Citation

  • Isaac Adom Boachie, 2025. "Enhancing Economic Growth through Climate Finance: Evidence from Ghana," International Journal of Research and Innovation in Applied Science, International Journal of Research and Innovation in Applied Science (IJRIAS), vol. 10(5), pages 832-853, May.
    • Handle: RePEc:bjf:journl:v:10:y:2025:i:5:p:832-853
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