• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, October 16, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

A New Climate Change Adaptation and Resilience Strategy- World Bank Report

M.Cby M.C
November 18, 2020
Reading Time: 4 mins read
M.Cby M.C
in Economy
0
A New Climate Change Adaptation and Resilience Strategy- World Bank Report

Climate change Adaptation and Resilience

Goal 13 of the SDGs resonate a global commitment to take swift actions to mitigate climate change by 2030. With the knowledge that, these actions may not reduce climate risks to zero, governments all over the world must decide on ways to better manage these risks so they don’t escalate.

According to the World Bank’s report which was released yesterday, 17th November 2020, ministries of finance all over the world must focus on six (6) laid down strategies to approach adaptation challenges.

In less than a decade to go in meeting the 2030 deadline, climate risks all over the world have heightened, in addition to the devastating effects of Covid-19 and Ghana has had its own share of these disturbing conditions. In this same context, Ghana had once been faced with a severe drought and accompanying famine from 1981-1983, hence it would be a nightmare on the country’s part to allow these situations to resurface.

RelatedPosts

Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

Besides, the second largest employer of Ghana’s labour force, behind the Services sector is the Agriculture Sector which is made up of about 28.46% and most people in this sector are mostly poor. Hence, the worsening effects of climate risks and the impact of Covid-19 may be very dire for this bracket of people and may send the vulnerable poor into extreme poverty.

climate impact

Ghana’s Climate Change Policy

This notwithstanding, Ghana has made some noble commitments regards adapting to Climate change including its first ever National Climate Change policy (NCCP) which was developed by the Ministry of Environment, Science, Technology and Innovation in 2013.

ADVERTISEMENT

The policy defines a path way for dealing with the challenges of climate change taking into the consideration the then existing socio-economic context of Ghana. The policy prioritizes five main areas: Agriculture and Food security; Disaster Preparedness and Response; Natural Resource Management; Equitable Social Development; Energy, Industrial and Infrastructural Development. Accordingly, the policy enlists three objectives: effective adaptation; social development; mitigation.

Although some very notable improvements have been achieved, thus far. There is still need to consider the dynamics of the times in order to tailor policies accordingly. More importantly, in the current socio-economic context, incorporating the economic variability facing the economy due to Covid-19 pandemic would be extremely beneficial.

Doing so requires planning ahead and putting in place proactive measures that not only reduce climate risk but also accelerate development, and cut poverty, according to the report

 “Climate change is causing risks and pressures that increasingly force societies to rethink their priorities and principles for achieving societal well-being and economic development.”

“Adaptation cannot be an afterthought to development. Instead, by integrating it into policy thinking up front, governments can catalyze robust economic development while also reducing vulnerability to climate change,” says Lead Economist of the World Bank, Stéphane Hallegatte.

climate pic
Risk Finance strategies for households and governments

New Strategies to address climate change adaptability and resilience

According to the report, policies should be focused on the need to build resilient foundations with rapid and inclusive development. Essentially, the poorer societies are, the more climate change would affect them. Thus, poverty and lack of access to basic services including infrastructure, financial services, health care, and social protection are strong predictors of vulnerability to climate change.

The government should therefore ensure that policies facilitate the adaptation of people and firms. For years, Ghana’s path to realizing the goal 13 of the SDGs has only been government-oriented without the involvement of the private sector and the population at large. But, of course, making this agenda all-inclusive would help accelerate the country’s reach towards this goal.

 Additionally, the government should revise land use plans and protect critical public assets and services. The report finds that households and firms in developing countries lose about US$390 billion due to infrastructure (power and water outages and transport) disruptions. Government’s commitment to improving infrastructure and investing a dollar in same would yield fourfold in economic returns, the report says. Albeit, this should not be the governments fight alone but all other stakeholders must be involved.

Again, policies must focus on helping people and firms recover quickly from the risks and impacts of climate change without having to face devastating long-term consequences. Access to emergency borrowing and social protection are essential ways to help firms and people get back on their feet.

Also, there should be a concerted effort to manage financial and fiscal issues at the macro level. For the obvious reason that, climate change affects countries’ macroeconomic positioning and financial system. Coping with climate change impacts in one economic sector is complicated, but coping with the impact on all sectors simultaneously requires high strategic planning due to the ripple effects of climate change on the many linked sub-sectors of an economy.

Lastly, the government must prioritize according to needs, implement and monitor progress. Governments should not only prioritize but also establish robust and institutional frameworks that can assess or monitor the progress of these priorities.

It is not in the best interest of any government to implement stand-alone projects but they must also ensure that government departments and public agencies adopt and mainstream the strategies in all their decisions, and government not relenting on continuously monitoring the impact of actions.

Tags: AdaptationClimate ChangeghanaResilienceWorld Bank
Please login to join discussion
Previous Post

Substation Installation At Mpraeso To Ensure Availability of Excess Power- ECG

Next Post

WIAD admonishes Women Agripreneurs to study evolving consumer needs

Subscription Form

Related Posts

Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown
Economy

Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown

October 16, 2025
Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025
Economy

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

October 16, 2025
Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns
Economy

Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

October 16, 2025
A Brewing Debt Storm Threatens Ghana’s Recent Economic Gains
Economy

A Brewing Debt Storm Threatens Ghana’s Recent Economic Gains

October 15, 2025
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, with Ajay Banga, President of the World Bank Group
Economy

Ghana, World Bank Strengthen Partnership to Accelerate Development in Priority Sectors

October 15, 2025
Volta Region Readies for 24-Hour Economy Policy Program
Economy

Volta Region Readies for 24-Hour Economy Policy Program

October 14, 2025
Alan John Kwadwo Kyerematen, Founder of the United Party
General News

The Paradise Project: Alan Kyerematen Unveils United Party, to Make Ghana Africa’s Economic Powerhouse

by Evans Junior OwuOctober 16, 2025
Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown
Economy

Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown

by M.COctober 16, 2025
German Chancellor Friedrich Merz speaks in the bundestag.
Europe

Merz Calls For Stronger German Leadership Within EU

by Comfort AmpomaaOctober 16, 2025
High-level delegation
Extractives/Energy

GoldBod’s Trading Model Draws Interest From Mozambique Officials 

by Prince AgyapongOctober 16, 2025
Adverse Supply Shocks to Wane Global Economic Growth – IMF
Around the Globe

Adverse Supply Shocks to Wane Global Economic Growth – IMF

by Michael Teye-Bio NaduteyOctober 16, 2025
NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership
General News

NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

by Silas Kafui AssemOctober 16, 2025
Alan John Kwadwo Kyerematen, Founder of the United Party
Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown
German Chancellor Friedrich Merz speaks in the bundestag.
High-level delegation
Adverse Supply Shocks to Wane Global Economic Growth – IMF
NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

Recent News

Alan John Kwadwo Kyerematen, Founder of the United Party

The Paradise Project: Alan Kyerematen Unveils United Party, to Make Ghana Africa’s Economic Powerhouse

October 16, 2025
Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown

Services Sector Dominates Ghana’s 4.5% Economic Growth Amid Industrial Slowdown

October 16, 2025
German Chancellor Friedrich Merz speaks in the bundestag.

Merz Calls For Stronger German Leadership Within EU

October 16, 2025
High-level delegation

GoldBod’s Trading Model Draws Interest From Mozambique Officials 

October 16, 2025
Adverse Supply Shocks to Wane Global Economic Growth – IMF

Adverse Supply Shocks to Wane Global Economic Growth – IMF

October 16, 2025
NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

October 16, 2025
Subscription Form
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.