Transition to renewable energy to take place over the next few decades.

a National Energy Transition Forum on Tuesday, organised by the Ministry of Energy, together with the Ministries of Transport, Environment, Finance and Science, Technology and Innovation. The event was held under the theme ‘Moving Ghana towards a Net-Zero Future’.
“It is estimated that the way in which we produce and use energy accounts for more than 80% of the total greenhouse gas emissions. Although we still need the energy to improve our economy, it has become imperative that we reduce emissions from production and the use of energy by replacing high emitting fuels, particularly fossils with sustainable fuels, such as renewables,” the Vice President said in his address. “We all have to aware that this transition is going to take place over the next 30 years, but the costs of that transition are being felt today.”
He added that as oil prices continue to rise globally, developing countries like Ghana are facing these very high costs of petroleum prices, and that is resulting in many economic impacts such as inflation. “There are many who have said that the petroleum price increase is going to remain at the high levels; we are not going to see any major declines. How do we as developing countries like Ghana adjust to this new reality, if it becomes a new normal of high oil prices and its impact on the macro variables in our respective economies? It is very clear that we need a plan,” Vice President Bawumia said.