Investment Rating - The report does not explicitly provide an investment rating for the industry [9]. Core Insights - The forests in Ghana cover approximately 31% of the country's area, supporting 2.5 million people and meeting 54% of the national energy needs. The estimated cost of deforestation is $400 million, accounting for 0.7% of Ghana's GDP in 2017 [15][29]. - The Ghanaian government has made significant efforts to reduce deforestation and improve forest management, including various initiatives and projects supported by the World Bank [30][32]. - The study estimates the financial and economic profitability of selected land use changes, focusing on the national benefits of forests, particularly water services, rather than global benefits like carbon and biodiversity [16][32]. Summary by Sections Introduction - Ghana's forests are crucial for the economy, providing significant ecosystem services and supporting livelihoods. However, many forests are being converted to other land uses, leading to adverse effects on local communities and the national economy [29][30]. Methodology - The study employs a Cost-Benefit Analysis (CBA) over a 30-year period, using a 7% discount rate to assess the net benefits of selected land use changes from both farmers' and national perspectives [18][40]. Cost-Benefit Analysis Results - In the Pra basin, converting closed forests to single cocoa cultivation yields a net benefit of approximately $1,300 per hectare for farmers. However, when considering the economic value of reduced water availability due to increased sedimentation, the net present value (NPV) can drop to negative values in areas with high sediment transport [19][70]. - In the Volta basin, the net benefit for farmers converting closed forests to maize cultivation is estimated at $1,200 per hectare. Similar to the Pra basin, the economic NPV becomes negative in areas with significant sediment transport [19][71]. Conclusion - The study indicates that while converting closed forests to selected alternative uses is financially attractive for farmers, it can lead to economic losses for the country in areas with high sediment transport. Payment for Ecosystem Services (PES) schemes could encourage forest conservation in these regions [26][27].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The value of a statistical life (VSL) is crucial for cost-benefit analysis (CBA) in road safety and socio-economic cost calculations of road crashes, particularly in low- and middle-income countries (LMIC) where specific VSL estimates are often lacking [2][9] - A new value transfer approach is proposed to estimate VSL in countries without specific data, utilizing income elasticities to adapt VSL estimates from other countries [5][12] - The study emphasizes the need for more VSL research in LMICs, highlighting the limited number of existing studies [5][31] Summary by Sections Methodology - A unit value transfer approach is utilized, determining a base VSL from 32 countries to estimate VSL in other nations based on income per capita [3][4] - The resulting VSL transfer functions are defined for LMIC and high-income countries (HIC), with specific equations relating VSL to Gross National Income (GNI) per capita [4][31] Results - The VSL for LMIC ranges from approximately 22,000 USD to 1.1 million USD, while for HIC it ranges from 1.2 million USD to 4.8 million USD [4][25] - The mean VSL is reported as 2.6 million USD, with significant variation observed between LMIC and HIC [23][28] Recommendations - The report recommends applying the new VSL transfer approach for CBA in countries lacking appropriate country-specific VSL, and suggests developing transfer functions for non-fatal injuries [5][33] - Future research should focus on increasing the number of VSL studies in LMIC, particularly in low-income countries [31][35]