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in Economy

Ghana Gains $486.2 million From Its Carbon Sale

Maynard Championby Maynard Champion
December 14, 2022
Reading Time: 3 mins read
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Ghana Gains $486.2 million From Its Carbon Sale

Ghana gets $486.2million from carbon sale

Ghana, through carbon sales has acquired  $486.2 million as its first payment.

Mr. Andrew Okrah, Director of the Forestry Commission Training Center, located at Akyawkrom in the Ejisu Municipality of Ashanti, disclosed the information during the sideline of the 2022 end of year review and planning session of the Forest Research Institute of Ghana of the Council for Scientific and Industrial Research (CSIR-FORIG).

According to him, this was made possible as a result of a pilot’s project that was based on the theme, “Forestry Research for Sustainable Development”, which was initiated in the year 2010, to store carbon in some selected forest reserves in the country as one of the prospective measures to mitigate climate change.

Mr. Okrah further explained that, Ghana with one of the highest deforestation rates in Africa, became the third country to sign a landmark agreement with the World Bank that rewards community efforts to reduce carbon emissions from deforestation and forest degradation.

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The sale of the carbon was a technique to provide an economic incentive to limit greenhouse gas emissions. It was an opportunity for Ghana to take advantage of carbon trading, he added.

“If on pilot bases such an amount could be obtained, then the sky could be a limit if seriousness was attached to projects for carbon emission reductions from the forest and land use sectors.

“Forestry Commission should work in close partnership with other stakeholders to promote the plantations of climate smart species to reduce carbon emissions in the country.”

Mr. Andrew Okrah

 Mr Okrah, in his presentation on Forest and Climate Change mentioned that, the national total forest reserve now was 6.5 million hectares, hence, efforts must be made to protect the forests.

He marveled why there were still talks about illegal mining (galamsey), illegal chainsaw, charcoal productions as some of the most common pressures causing deforestation and severe forest degradation.

Mr Okrah urged the CSIR-FORIG to bring on board measures and laws that would curb issues relating to carbon emission and climate, for the betterment of the country as a whole.

Collaboration With Small-scale Carpenters For Quality Products On The Market

Prof. Daniel A. Ofori, Director of CSIR-FORIG, highlighted on plans to collaborate with small-scale carpenters to take advantage of the Institute’s Wood and Furniture Testing Center, to ensure products on the market were of quality and international standards.

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Prof. Daniel A. Ofori Director of CSIR FORIG
Prof. Daniel A. Ofori, Director of Forest Research Institute of Ghana of the Council for Scientific and Industrial Research (CSIR-FORIG)

“The Center had now been accredited for conducting tests under ISO 17025. Chairs and tables, could be tested for their durability, stability and strength to determine the life span of the products and their ability to perform the functions for which they were designed.”

Prof. Daniel A. Ofori

Prof. A. Ofori, in his conclusion communicated that, the Institute under its livelihood impactful project, trained 684 persons in snail farming, mushroom culti­vation, bee keeping, tree nursery and briquettes production which in a long run tends to minimize the pressure on the forests.

Read Also :  GIISDEC Has A Role To Play In Government’s Vision Of Value Addition To Minerals- Deputy Lands Minister

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Tags: Forest Research Institute of Ghana of the Council for Scientific and Industrial Research (CSIR-FORIG)Forestry Commission Training CenterSmall-scale carpenters
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