Professor of Finance at the University of Ghana Business School, Godfred Bokpin has said that Ghana’s quest for economic recovery must prioritize sustainability and resilience.
In a discussion with Alfred Ocansey on KeyPoints, he warns that the government’s approach to economic recovery could have serious long-term consequences.
Prof. Bokpin contended that focusing narrowly on GDP growth has led to a superficial recovery that fails to address deep-seated vulnerabilities within the economy.
He pointed out that Ghana’s short-term focus on stability has come at a steep cost, questioning the balance between immediate economic indicators and future prosperity.
“There can be no true recovery without ecological sustainability,” Prof. Bokpin insisted on October 26.
He criticized the government for neglecting environmental protection amid the pursuit of economic growth, citing alarming rates of environmental degradation in regions affected by mining.
Prof. Bokpin stressed the need to adopt Environmental, Social, and Governance (ESG) standards across industries to ensure long-term resilience, noting that even institutions like the Bank of Ghana are beginning to embrace ESG to protect sustainable development.
He argued that policies should focus on more than profit by promoting environmental and social integrity. “Economic growth without environmental consciousness is a contradiction,” he stated.
In urging Ghana to align with international standards in sustainability, Prof. Bokpin highlighted the potential for ESG-oriented policies to foster a more balanced recovery, where economic gains go hand-in-hand with social responsibility and environmental stewardship.
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