The objective of this No Go Policy is to encourage financial institutions in Ghana to only fund environment-friendly projects to protect the environment in Ghana.
The Banks and Biodiversity No Go Policy is a campaign aimed at sensitizing banks to stop financing projects that destroy the environment.
The Banks and Biodiversity No Go Policy training was targeted at 30 journalists and their media organization on the need for them to report stories related to bank investments that negatively affect our environment, particularly biodiversity.
The banks and biodiversity no go policy is a new campaign plan in partnership with Friends of the Earth (FoE) US aimed at creating public awareness while engaging banks in Ghana (through the Bank of Ghana) and key state and non-state actors on the need for banks to adopt the No Go Policy.
Speaking at the training, the Focal Point on Biodiversity at SYND, Gifty Elikplim Agbenyefia explained that over the years, biodiversity has recorded a significant loss and increasing encroachment and development in sensitive areas and ecosystems, many of which represent some of the last, intact habitats for endangered and vulnerable species like wetlands for residential projects in Ghana.
“The solution to this crisis is the introduction of the “No Go Policy”; it is a powerful cross-cutting solution with cross-cutting impacts, as it can simultaneously address climate change and biodiversity policy of the banks.
“By doing so, we can help build a more resilient and sustainable future for generations to come.
Banks are key in biodiversity conservation and protection, as they have a significant role in financing infrastructure projects; these projects can be destructive to the environment if not properly planned and implemented, especially when they involve large scale mining or logging ” he mentioned.
A journalist with Peacefm, said that the training and knowledge sharing practice has been an eye opening one to him.
We are grateful to Strategic Youth Network for Development for opening their eyes to this very important policy on sustainability” he said.