Green Entrepreneurship for Sustainable Development in Ghana: A Review

Abstract

Market-led strategies for growth and development have resulted in negative externalities at the various stages of production and consumption cycle, leading to the destruction of the environment, with negative consequences for sustainable development. Prior to the emergence of sustainable development, economic development, which was geared more towards economic growth paid less attention to externalities. Since 1983, vibrant and competitive private sector; and entrepreneurship approaches have been tapped in Ghana for the creation of jobs and employment. These, coupled with other factors, transitioned the country to middle-income status in 2011. The undue focus on a competitive private sector without prudent practices of sustainability has led to over exploitation and use of natural resources and this has caused deforestation, land degradation, air and water pollution, soil erosion, overgrazing and destruction of bio-diversity. These effects are estimated to cost about 10% of the country’s GDP annually. Green entrepreneurship is very vital for addressing these challenges and the eradication of poverty. Using a desk study approach, this paper assesses how Ghana can harness the innovative potentials of green entrepreneurship to foster the attainment of sustainable development.