In a landmark move towards combating deforestation and forest degradation, Ghana's Ministry of Lands and Natural Resources and the Forestry Commission have signed an Emissions Reductions Purchase Agreement (ERPA) with Tullow Oil.
This agreement, heralded at a ceremony in Accra, represents a significant milestone in Ghana's commitment to sustainable development and environmental stewardship.
Hon. Samuel A. Jinapor, MP, Minister for Lands and Natural Resources, praised the agreement as a "bold and ambitious" initiative that underscores Ghana's leadership in addressing the global challenge of climate change.
He highlighted the importance of fair pricing for carbon credits, stating that this partnership sets a new benchmark for carbon pricing in the region.
The ERPA forms a crucial part of Ghana's broader strategy to promote sustainable forest management and reduce deforestation and forest degradation.
Notable progress has been made through initiatives like the Ghana Cocoa Forest REDD+ Program and the Ghana Shea Landscape Emission Reductions Project.
This new partnership with Tullow is anticipated to generate significant revenue for local communities and bolster Ghana's climate change mitigation efforts.
Madam Julia Ross, Tullow's Director for People & Sustainability, outlined the project's scope, which includes the use of over two million hectares of land for tree planting and other carbon credit innovations.
She emphasized Tullow's commitment to zero carbon emissions, with over $40 million invested to date.
Madam Ross also highlighted the socio-economic benefits of the project, pledging ongoing engagement with the Forestry Commission and other stakeholders to ensure its success.
British High Commissioner, Her Excellency Harriet Thompson, expressed pride in Ghana's dedication to curtailing forest degradation and mitigating climate change.
She noted the British Government's support and viewed this agreement as a precursor to further successes.
Madam Thompson commended Tullow and the Forestry Commission, urging other organizations to follow their lead, stating, "Doing this is good for business, good for the climate, and good for the people."
Forestry Commission CEO, John Allotey provided additional details, noting that the agreement will span a decade and position the Commission as a major source of approved and reliable carbon credits.
He highlighted the extensive, dedicated engagements between the Commission and Tullow that culminated in this agreement.
Mr. Allotey emphasized the Commission's commitment to producing high-integrity carbon credits appealing to the international market.
Deputy Minister for Energy and MP for Mpohor Constituency, Hon. John Kwabena Abbam Aboah Sanie, on behalf of the Minister of Energy, commended the Forestry Commission and Tullow for their collaborative efforts.
He expressed optimism that the Forestry Commission & Tullow REDD+ Project will achieve outstanding results.
The ceremony also featured congratulatory statements from traditional authorities and civil society representatives, all applauding the Forestry Commission and Tullow for their dedication to this vital cause.
This historic agreement not only showcases Ghana's proactive stance on environmental protection but also sets an inspiring example for other nations in the fight against climate change.
Story by: Joshua Kwabena Smith