The Governor of the Bank of Ghana on Tuesday called for stronger coordination among the country’s financial regulators, saying effective management of sustainability risks depends on a unified supervisory approach across banking, insurance, pensions and capital markets.
Speaking at the launch of the Ghana Sustainable Finance Roadmap in Accra, the governor said the country’s regulatory structure is built on distinct institutional mandates but stressed that emerging risks increasingly cut across all segments of the financial system.
He said achieving a sustainable financial system requires regulators to move beyond siloed supervision and adopt coordinated strategies and consistent implementation frameworks.
The Sustainable Finance Roadmap brings together the Bank of Ghana, Securities and Exchange Commission, National Insurance Commission and National Pensions Regulatory Authority under a common framework aimed at aligning environmental, social and governance (ESG) standards across the sector.
The governor said the initiative is intended to strengthen regulatory coherence at a time when sustainability-related risks are becoming increasingly interconnected across financial institutions.
He said the roadmap is designed not only to guide ESG integration but also to ensure that regulators operate with shared objectives and aligned supervisory tools.
“The risk that moves across the whole system cannot be managed by any one institution sitting alone,” he said.
The governor said the framework reflects years of gradual policy development, including sustainable banking principles introduced in 2019 and subsequent climate risk guidelines issued in 2024.
He said these earlier reforms had improved industry readiness, but noted that a more coordinated structure was now required to consolidate progress and ensure consistent application across all financial subsectors.
The roadmap is expected to serve as a guiding framework for regulatory cooperation on ESG integration, climate risk oversight and sustainable finance development in Ghana.
The initiative is also supported by the International Finance Corporation (IFC) and other development partners.
