Ghana must turn research into practical solutions for development – Chief of Staff

Danish Ambassador to Ghana, Jorgen Bollesen, urged closer collaboration between Denmark and Ghana to hasten sustainable industrialization and enhance access to premium global markets. Bollesen stressed that the partnership could be reinforced through practical initiatives targeting green production, industrial efficiency, and value addition.

At the Ghana Industrial Summit and Exhibition’s dialogue on the Sustainable African Value Initiative (SAVI), Bollesen emphasized Denmark’s perspective of the green transition not as an economic strain but as a significant catalyst for industrial competitiveness. He pointed out that access to global markets today necessitates more than merely high-quality products; it requires green integrity due to stringent European regulations and shifting consumer preferences.

Denmark sees sustainable production as a burgeoning prerequisite for engaging in international trade, presenting Ghana with an opportunity to broaden its footprint in global markets. Key areas for enhanced cooperation between the two nations encompass accelerating industrial decarbonisation, refining water-sector management and industrial efficiency, broadening the shift towards green energy, and augmenting value attributed to locally-sourced products.

Bollesen outlined Denmark’s approach to African countries, underlining mutual interests, shared objectives, and commercial investments. He urged attendees to harness the platform to devise green financing opportunities, corporate alliances, and regulatory mechanisms essential for facilitating sustainable industrial development. Bollesen stressed the urgency of the call, citing the mounting global pressure on industries to diminish their environmental footprint while adhering to international standards for production and trade.

Together, he argued, they could demonstrate that sustainable industrialization is the most feasible route to shared global prosperity. Climate and Sustainability Expert, Mrs Debora Amoah-Awuah, advised businesses to bolster their supply chains, diversify sources of raw materials, and brace for disruptions as global economic and geopolitical landscapes continue to evolve.

She emphasized that companies cannot afford to wait for a crisis to devise contingency measures, stressing the necessity for businesses to foresee risks and devise alternative supply sources. Assistant Project Officer of SAVI, Ms Natasha K. Eyiah, stated that the initiative aims to assist companies in establishing a sustainability baseline and pertinent metrics, alongside a clear sustainability strategy and action plan.

She unveiled a six-month support program geared towards strengthening businesses’ sustainability practices, enhancing competitiveness, and preparing for forthcoming environmental and regulatory prerequisites. The Chief Executive Officer of the Association of Ghana Industries, Seth Twum-Akwaboah, implored businesses to invest in Environmental, Social, and Governance (ESG) practices as a strategic necessity for maintaining competitiveness and accessing international markets.

He noted that ESG has become a critical element of corporate reporting and business transactions, especially as companies endeavor to expand their operations and engage with international partners. The CEO of Home Foods Limited, Madam Felicia Twumasi, expressed apprehensions over the challenges confronting businesses and investors, specifically access to financing, investment recovery, and local enterprises’ efficacy in competing within the global economy.