The third Energy Sector Policy Engagement dubbed: ‘Energy Round table Conference 2017’ has taken place in Accra.
About 170 participants attended the meeting which was addressed by experts in the energy sector.
Presentations were made on the Business sector and sustainable energy supply, policy directives that ensure sustainable energy for Ghana, the current state of energy in Ghana and the next steps.
The conference provided the platform to explore the best of systems that have been successful in implementing energy management policies and frameworks.
It also served as a platform for relevant stakeholders to brainstorm and propose appropriate mechanisms to operationalize and ensure the sustainability of an effective Natural Capital Accounting (NCA) system in Ghana’s energy resources.
Energy Round table Conference 2017 was organized by the Institute of Green Growth Solutions (IGGS) in partnership with the Konrad Adenauer Stiftung (KAS) on the theme: Ensuring a sustainable and efficient power sector.
Welcoming participants to the meeting, Dr. Eric Twum, Chief Executive Officer (CEO), IGGS, noted that the Energy Sector Policy engagements, the first of which was held on October 9, 2014― at the height of the recently-ended energy crisis ―had been able to influence some of the immediate policy actions taken by the government.
Dr Twum expressed concern about policy inconsistencies and the unsustainable management of the energy sector, resulting in unacceptable financial and generation loses.
He explained that the huge debts saddling the energy sector represented a significant proportion of the balance sheet of commercial banks.
This, he said, meant that money that should be lent to the private sector for income generation activities and employment creation was locked up in one sector.
He said the energy sector was at the heart of Ghana’s socio-economic development and that it required policy consistency and sustainable management to prevent or arrest the unacceptable financial and generation loses that had characterized the operations of the sector and to spur growth in all other sectors of the economy.