Sustainable Development Goals

Ghana’s new vehicle tax aims to tackle pollution – expert unpacks how it’ll work and suggests reforms

Retrieved on: 
Thursday, February 15, 2024

It’s only the third African country to introduce an explicit carbon tax, after South Africa and Mauritius.

Key Points: 
  • It’s only the third African country to introduce an explicit carbon tax, after South Africa and Mauritius.
  • The tax is intended to address harm associated with vehicle emissions.

Why is the government taxing emissions?

  • The proposed vehicle emissions tax under the Emissions Levy Act, 2023 is one of several environmental fiscal reform measures being introduced by the government.
  • Environmental tax reform aims to shift the burden of taxation to environmentally damaging activities, such as pollution.
  • Ghana’s government believes the vehicle emissions tax is a more cost-effective and equitable way to make sure the polluter pays, prevent harm and protect the public.

What has been done so far to reduce air pollution?

  • In 2021, the government introduced a sanitation and pollution levy on petrol and diesel under the Energy Sector Levies Act to raise revenue to improve air quality, among other goals.
  • The levy accrued GHS452 million (US$55 million) in 2022.
  • These measures weren’t well designed from a tax policy point of view as they were not tied to actual vehicular emissions.

How should an emissions tax work and how does the new tax work?

  • Ideally, the tax should be based on the actual carbon dioxide and other pollutant emissions from a vehicle, measured in grams of carbon dioxide per kilometre.
  • Each car owner would pay an annual tax for the amount of CO₂ their car emits above that threshold.
  • The tailpipe emissions test would be done during the annual roadworthiness check by Ghana’s Driver Vehicle and Licensing Authority.

What are the objections to the tax and can they be accommodated?

  • There is also no clear plan for what the tax will be used for after it is collected.
  • Several critics, especially in the manufacturing and transport sector, say there are already too many taxes.
  • But the government is under pressure to raise domestic revenue as part of its International Monetary Fund conditionalities.

How does Ghana’s tax compare with others in Africa?

  • For example South Africa introduced a carbon emissions tax on vehicles in 2010.
  • A 2018 study indicated that South Africa’s CO₂ emissions tax had failed to influence which new cars consumers were buying.
  • Ghana’s proposed emissions tax for vehicles up to 3 litre engine capacity is not unreasonable when benchmarked to South Africa’s.

Can the tax be implemented and will it meet its objectives?

  • The existing sanitation and pollution levy must first be scrapped and replaced with the vehicle emissions tax.
  • The tax bands should conform to emission standards set by the Ghana Standards Authority and the vehicle licensing authority.
  • Having both the sanitation and pollution levy and vehicle emissions tax operating at the same time amounts to double taxation.

What is the tax collection picture in Ghana?

  • Ghana tax collection is currently around 14% of GDP.
  • Its aim is to get to 18% by 2028, comparable with its peers such as Senegal, Namibia, Togo and Rwanda.


Theophilus Acheampong is affiliated with the IMANI Centre for Policy and Education in Accra, Ghana. He has also consulted for the Government of Ghana on environmental fiscal reform in a private capacity.

Gwynne Shotwell Awarded the 2023 Green Sands Prize for Her Contributions to the Space Industry & STEM

Retrieved on: 
Wednesday, February 14, 2024

The 2023 Prize was focused on the Space industry.

Key Points: 
  • The 2023 Prize was focused on the Space industry.
  • Moreover, the industry has become a symbol of human aspiration, inspiring future generations to pursue science, technology, engineering, and mathematics (STEM) careers.
  • The committee unanimously selected Gwynne Shotwell as the 2023 recipient of the Inspiration Prize.
  • “Gwynne’s combination of symbolic significance, business acumen, and technical engineering made her the obvious winner of the Green Sands Prize in the Space Industry.

Arizona youth honored as Prudential Emerging Visionary

Retrieved on: 
Tuesday, February 13, 2024

NEWARK, N.J., Feb. 13, 2024 /PRNewswire/ -- Prisha Shroff, 17, of Chandler, today was named a 2024 Prudential Emerging Visionary for her inspiring commitment to improving the lives of others.

Key Points: 
  • NEWARK, N.J., Feb. 13, 2024 /PRNewswire/ -- Prisha Shroff, 17, of Chandler, today was named a 2024 Prudential Emerging Visionary for her inspiring commitment to improving the lives of others.
  • As one of 25 Prudential Emerging Visionary winners, Prisha will receive a $5,000 award to help take her innovation to the next level.
  • Prudential Emerging Visionaries recognizes young people ages 14-18 whose fresh perspectives and innovative solutions address pressing financial and societal challenges in their communities.
  • The program is an evolution of Prudential's Spirit of Community Awards, which honored more than 150,000 outstanding youth volunteers over 26 years.

Prudential Financial introduces its next class of Emerging Visionaries

Retrieved on: 
Tuesday, February 13, 2024

NEWARK, N.J., Feb. 13, 2024 /PRNewswire/ -- Twenty-five young leaders from across the U.S. have been honored by Prudential Financial today as the latest class of Prudential Emerging Visionaries.

Key Points: 
  • NEWARK, N.J., Feb. 13, 2024 /PRNewswire/ -- Twenty-five young leaders from across the U.S. have been honored by Prudential Financial today as the latest class of Prudential Emerging Visionaries.
  • Prudential Emerging Visionaries honors exceptional students ages 14-18 who have created innovative, bold solutions to financial and societal challenges in their communities.
  • Prudential Emerging Visionaries is sponsored by Prudential in collaboration with Ashoka, a leading organization in the social impact sector, with advisory support provided by the Financial Health Network, an authority on financial health and a longtime partner of The Prudential Foundation.
  • For more information about Prudential Emerging Visionaries and to learn more about their stories, visit prudential.com/emergingvisionaries .

White Paper Shows U.S. Private Sector's Capability in Advancing SDG 6: Clean Water and Sanitation for All

Retrieved on: 
Tuesday, February 13, 2024

This opportunity is highlighted in the white paper "From Ripples to Waves: The Value of Corporate Water Stewardship," which was unveiled yesterday at the GreenBiz 24 conference in Arizona.

Key Points: 
  • This opportunity is highlighted in the white paper "From Ripples to Waves: The Value of Corporate Water Stewardship," which was unveiled yesterday at the GreenBiz 24 conference in Arizona.
  • "From Ripples to Waves: The Value of Corporate Water Stewardship" discusses the value of water and serves as a call to action for businesses to address water challenges proactively.
  • Delving into the practices of six companies across various sizes and sectors – including PepsiCo, Microsoft, Gotham Greens, Cargill, S&P Global, and Xylem – the white paper provides tangible examples of effective water stewardship.
  • Through these examples, the report highlights how the private sector can make a demonstrable contribution to the achievement of Sustainable Development Goal (SDG) 6: Clean Water and Sanitation for all.

Green Technology & Sustainability Market worth $134.9 billion by 2030 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Monday, February 12, 2024

Businesses are adopting green technology & sustainability solutions to mitigate environmental impacts, comply with regulations, and adapt to changing market demands.

Key Points: 
  • Businesses are adopting green technology & sustainability solutions to mitigate environmental impacts, comply with regulations, and adapt to changing market demands.
  • Managed services are significantly impacting the Green Technology & Sustainability Market by providing businesses with outsourced, expert management of their IT infrastructure and services.
  • In the Asia Pacific region, the adoption of green technology & sustainability is on the rise, driven by several key factors.
  • Green Technology & Sustainability Market Advantages:
    Utility expenses can be lowered over time by reducing energy use with the use of various green technologies, like solar panels and energy-efficient appliances.

Green Technology & Sustainability Market worth $134.9 billion by 2030 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Monday, February 12, 2024

Businesses are adopting green technology & sustainability solutions to mitigate environmental impacts, comply with regulations, and adapt to changing market demands.

Key Points: 
  • Businesses are adopting green technology & sustainability solutions to mitigate environmental impacts, comply with regulations, and adapt to changing market demands.
  • Managed services are significantly impacting the Green Technology & Sustainability Market by providing businesses with outsourced, expert management of their IT infrastructure and services.
  • In the Asia Pacific region, the adoption of green technology & sustainability is on the rise, driven by several key factors.
  • Green Technology & Sustainability Market Advantages:
    Utility expenses can be lowered over time by reducing energy use with the use of various green technologies, like solar panels and energy-efficient appliances.

SHEQONOMI Partnership announced with Reliance JiO JioStore and KaiStore

Retrieved on: 
Sunday, February 11, 2024

Our curated content includes more than 30 genres including women's health, entrepreneurship, investing, leadership, technology, climate change, sustainability, healing and wellness, meditation, and much more.

Key Points: 
  • Our curated content includes more than 30 genres including women's health, entrepreneurship, investing, leadership, technology, climate change, sustainability, healing and wellness, meditation, and much more.
  • SHEQONOMI, in partnership with Reliance Jio, the Islamic Development Bank, the Algorand Foundation, KaiOS, SDG Impact Accelerator, PEACHSCORE Accelerator, SHE RAISES Capital Accelerator, and other global and grass-roots leading women's organizations has successfully launched our newest mobile apps on iOS, Google Play, JiO Store, and KaiStore with over 300,000 downloads across 175 countries and all continents in record time.
  • SHEQONOMI is a multi-award-winning woman-led scale-up that has emerged as a response to numerous problems faced by women and girls during the COVID-19 Pandemic, especially when it comes to accessibility.
  • While we have been building out our partnerships and global listener base, Reliance JiO has been scaling their reach across India with the recent launch of their 5G network, JioBook, JiOSTB, and JiONEXT now available in more than 250,000,000 across Jio platforms through JioStore.

Buddha Coin: Igniting Bullish Momentum with Strategic Supply Burn and Strategic Partnerships

Retrieved on: 
Sunday, February 11, 2024

New York, NY, Feb. 11, 2024 (GLOBE NEWSWIRE) -- Buddha Coin , a trailblazing cryptocurrency project, surged into the market spotlight on December 26, 2023, driven by a strategic supply burn and bolstered by strategic partnerships.

Key Points: 
  • New York, NY, Feb. 11, 2024 (GLOBE NEWSWIRE) -- Buddha Coin , a trailblazing cryptocurrency project, surged into the market spotlight on December 26, 2023, driven by a strategic supply burn and bolstered by strategic partnerships.
  • At the heart of Buddha Coin's bullish momentum is its strategic decision to burn 90% of the total supply on May 23, coinciding with Buddha Day, a significant observance in Buddhism.
  • Bolstering its position are strategic partnerships and collaborations with industry-famous names such as Gotbit, PAAL AI, and Purple AI.
  • This anticipated listing, coupled with the scarcity-driven model and strategic partnerships, positions Buddha Coin for significant upside potential.

MHI Concludes Nissay Positive Impact Finance Agreement

Retrieved on: 
Friday, February 9, 2024

TOKYO, Feb 9, 2024 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) has concluded a Nissay Positive Impact Finance (Note1) agreement with Nippon Life Insurance Company (Nippon Life) (contract amount: JPY 6.0 billion yen).

Key Points: 
  • TOKYO, Feb 9, 2024 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) has concluded a Nissay Positive Impact Finance (Note1) agreement with Nippon Life Insurance Company (Nippon Life) (contract amount: JPY 6.0 billion yen).
  • Positive Impact Finance (PIF) is a loan intended to provide continuous support for corporate activities while comprehensively analyzing and evaluating the impacts (both positive and negative) that those activities have on the environment, society, and the economy, based on the Principles for Positive Impact Finance and implementation guidelines formulated by the United Nations Environment Programme Finance Initiative (UNEP FI).
  • The Principles for Positive Impact Finance, formulated by the UNEP FI in January 2017, is a financial framework for achieving SDGs.
  • (1) Nissay Positive Impact Finance is ESG-themed investment provided by Nippon Life.