The Jospong Group of Companies (JGC) has taken a significant step towards environmental sustainability by partnering with EKI Energy Services Ltd to venture into carbon credit development in Ghana.
The collaboration, sealed through a Memorandum of Understanding (MoU), aims to mobilize an impressive $1 billion in carbon credit financing, with the ambitious goal of generating over 1000 employment opportunities by 2030 in Ghana and West Africa.
The key element of this groundbreaking collaboration is the commitment to raising substantial capital through carbon credit financing. Carbon credits are financial instruments that represent a reduction in greenhouse gas emissions, contributing to global efforts to combat climate change.
The $1 billion target indicates the scale of the project and highlights the determination of both Jospong Group and EKI Energy Services to make a substantial impact in the realm of sustainable development.
The Chairman of JGC, Dr Joseph Siaw Agyepong explained that the collaboration is in the area of technical, finance and development. He noted that EKI Energy’s experience and leadership in climate change make it the obvious choice for the partnership. “We are partnering with EKI Energy because of their experience so they can hand-hold us so we can develop very strongly in the sector,” he stated.
Dr Joseph Siaw Agyepong announced that JCG will give scholarships to 10 individuals who are interested in undertaking studies in climate change. “We want to encourage and promote climate studies,” he explained. He called on other institutions and individuals to also invest in climate education.
The CEO of EKI Energy Services Ltd, Mr Monish Dabkara, on his part noted that EKI will support JGC to attract carbon investments. Having supplied over 200 million offsets, he assured that his company has the technical knowledge and experience to ensure that it delivers on its mandate.
The Executive Director of the Environmental Protection Agency (EPA), Dr Henry Kokofu-Kokofo, witnessing the ceremony described it as an important milestone that will place Ghana on the map. He added that this Is one of the legacies of President Akufo-Addo who has been openly spearheading private sector participation in the climate change space.
Dr Henry Kokofu-Kokofo commended the JGC and its Chairman for taking the bold initiative by investing in the space and taking advantage of the possibilities. “When many were afraid to stake the step Jospong Group has taken the bull by the horns and shown the way,” he noted.
Employment Generation
One of the noteworthy outcomes anticipated from this collaboration is the creation of more than 1000 jobs in Ghana and across West Africa by the year 2030. This aligns with the broader vision of fostering economic growth while simultaneously addressing environmental concerns.
The employment opportunities are expected to span various sectors related to carbon credit development, providing skilled and unskilled workers with avenues for meaningful employment.
Under the terms of the agreement, EKI Energy Services Ltd will play a crucial role in supporting Jospong Group with technical assistance throughout the duration of the project.
This collaboration reinforces the synergy between the companies and emphasizes the importance of specialized expertise in navigating the complexities of carbon credit development. The exclusive five-year partnership ensures a sustained commitment to achieving the outlined objectives.
The focus on carbon credit development inherently implies a positive environmental impact. By engaging in projects that lead to the reduction of greenhouse gas emissions, the Jospong Group and EKI Energy Services are contributing to global efforts to combat climate change.
This initiative reflects a growing trend in the corporate world, where businesses are increasingly recognizing the importance of environmental responsibility in their operations.
EKI Energy Services Ltd. (EKI) is a leading Carbon Credit Developer & Supplier across the globe. The company is listed on the Bombay Stock Exchange (BSE). EKI is over 15 years old and is a global market leader with deep expertise in the realm of climate change, carbon offset solutions, and carbon asset management. The company is today present in over 16 countries and has over 3500 clients across 40 countries worldwide.
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