By The Ministry of Lands and Natural Resources and the Forestry Commission have entered into a historic Emissions Reductions Purchase Agreement (ERPA) with Tullow, marking a significant milestone in Ghana’s efforts to combat deforestation and forest degradation.
Unveiled at a ceremony in Accra on Thursday, May 23, 2024, the agreement signifies a substantial leap forward in Ghana’s dedication to sustainable development and environmental preservation.
The partnership aims to foster sustainable land use and forest conservation, concurrently generating revenue for local communities and bolstering Ghana’s endeavors in climate change mitigation.
Samuel A. Jinapor, MP, Minister for Lands and Natural Resources, lauded the agreement as a “bold and ambitious” initiative showcasing Ghana’s leadership in tackling the global challenge of climate change.
He stressed the significance of fair carbon credit pricing, highlighting that Ghana’s collaboration with Tullow establishes a new standard for carbon pricing in the region.
The ERPA forms part of Ghana’s overarching initiatives to advance sustainable forest management and diminish deforestation and forest degradation.
In recent years, the nation has achieved notable progress through endeavors like the Ghana Cocoa Forest REDD+ Program and the Ghana Shea Landscape Emission Reductions Project.
The alliance with Tullow is anticipated to yield substantial revenue for local communities and bolster Ghana’s endeavors in climate change mitigation.
The agreement also underscores the nation’s dedication to sustainable development and environmental preservation, serving as a model for other countries to emulate.
Madam Julia Ross, Tullow’s Director for People & Sustainability, elaborated on the project’s scope, revealing plans to utilize over two million hectares of land for tree planting and other carbon credit initiatives in Ghana.
She highlighted Tullow’s substantial investments in achieving zero carbon emissions, totaling over $40 million to date.
Ross outlined the socio-economic benefits of the project, affirming Tullow’s ongoing collaboration with the commission and relevant stakeholders to ensure its success.
In a solidarity statement, Her Excellency Harriet Thompson, the British High Commissioner, expressed pride in Ghana’s commitment to forest conservation and climate change mitigation, viewing it as the start of numerous accomplishments with the British government’s support.
Thompson commended Tullow and the Forestry Commission for their achievement, urging other organizations to follow suit, citing the benefits for business, climate, and communities.
Mr. John Allotey, CEO of the Forestry Commission, provided additional insights into the agreement, emphasizing its ten-year duration and its role in establishing the commission as a primary source of reputable carbon credits.
He underscored the culmination of extensive engagements between the Forestry Commission and Tullow Ghana, emphasizing the commission’s dedication to producing high-quality carbon credits for the global market.
Hon. John Kwabena Abbam Aboah Sanie, Deputy Minister for Energy and MP for Mpohor Constituency, commended both the Forestry Commission and Tullow for their collaborative efforts, expressing hope for the project’s success in yielding significant results.
Traditional authorities and civil society representatives present at the program also offered congratulatory remarks, praising the Forestry Commission and Tullow for their commitment to realizing this noble endeavor.
Source: MLNR
