BoG Deepens Push for Green Finance Integration, Compliance Rises to 73.6%
The Bank of Ghana (BoG) is stepping up efforts to integrate climate risk and environmental sustainability into the country’s financial architecture, with a renewed call on banks and other regulated institutions to align their operations with the Ghana Sustainable Banking Principles.
Speaking at a focused session on the construction sector under the Sustainable Banking Principles initiative, Second Deputy Governor of the BoG, Mrs. Matilda Asante-Asiedu, revealed that sector-wide compliance with the principles has increased significantly—from 42.2% in 2021 to over 73.6% as of March 2025.
“The Bank of Ghana facilitated the training of all 22 commercial banks on sustainable banking principles. The average compliance rate has been on an upward trajectory from 42.2 percent to 73.6 percent. We are seeing a major shift in how banks view climate risk and sustainability,” she stated.
The Central Bank’s sustained engagement, she noted, is helping financial institutions to adopt practices that integrate environmental, social and governance (ESG) factors, particularly in high-impact sectors such as construction.
Climate Risk Now a Core Concern
The BoG’s focus on the construction industry—one of Ghana’s most carbon-intensive sectors—reflects the regulator’s concern about the dual threats of climate risk and stranded assets.
“The construction sector presents both risk and opportunity,” noted Mrs. Asante-Asiedu. “By directing capital toward environmentally sustainable projects, banks can play a transformative role in building climate-resilient infrastructure while minimizing their exposure to stranded assets.”
She reiterated that climate risk is no longer a peripheral issue, stressing its relevance to financial stability and long-term sectoral growth.
The Second Deputy Governor also underscored the role of green finance in supporting Ghana’s broader climate ambitions and achieving resilience across economic sectors.
The Ghana Sustainable Banking Principles, introduced in 2019, provide a framework for banks and other financial institutions to integrate sustainability into their core business strategies, governance structures and risk management frameworks.
