The analysis of Ghana's climate change-related energy tax revenue from 2013 to 2023 reveals significant fluctuations. Initial years show volatility, with a notable spike in 2015, followed by a declining trend. By 2023, the value stood at 3.37 units, showing consistent decreases since 2017. Over the last two years (2022-2023), there has been an average annual decrease of 7.98%. The long-term trend over the past five years has shown an average annual decline of 6.71%.
Looking ahead to future trends, the forecast for 2024-2028 suggests a continuing decline, with a forecasted 5-year CAGR of -9.48%, indicating a slower revenue growth. Factors to watch include policy changes, renewable energy adoption rates, and global climate initiatives impacting tax revenue.
