Financial Institutions especially banks and insurance companies must invest heavily in climate change mitigation and adaptation projects to save the Ghanaian economy, Founding President of Youth Icons Ghana, Nana Yaw Osei-Darkwa, has said.
According to him climate change presented both opportunities and threats and banks and financial institutions must position themselves to take advantage of the business opportunities of climate change as well as prepare themselves to withstand effects o f climate change.
Speaking in an interview with the Times Business in Accra on Monday as the institution celebrates its 10th anniversary he said climate change would have serious impact on the Ghanaian economy and businesses, especially the financial institutions.
He said banks would lose their investments and insurance companies would have to pay more claims through climate change induced disasters such as floods and prolong droughts.
"Projects such as smart-agriculture, afforestation and restoration of vital ecosystems would help combat climate change," Nana Osei-Darkwa.
The Founding President said to help combat global warming and climate change his outfit had established the Green Republic Project to plant trees to absorb carbon dioxide in the atmosphere.
He said the objective of the Green Republic Project, which is now a business entity, was to plant 20 million trees by the year 2028.
Nana Osei-Darkwa said so far Green Republic had planted about 7,500 trees across the country, adding that the organisation was educating the public about the need to plant more trees and desist from cutting down trees.
The Founding President described climate change as a conflict between human and nature, stressing that "if we are able to address the rift between human and nature, we'll be able to address climate change."
Na Osei-Darkwa expressed concern about the indiscriminate felling down of tress, pointing out that trees absorb carbon dioxide in the atmosphere which human did not need to survive.
According to him, the increase in stroke and cardiac related diseases in the country was as a result of the inhalation of toxic chemicals by the citizens.
He said the indiscriminate burning of tires and other poisonous substance polluted the air, which humans breathe to survive.