Minister for Lands and Natural Resources, Samuel A. Jinapor, has called on world leaders to ensure payment of right price for carbon at a high-level event on Investment in Nature and Biodiversity.
Speaking on the sidelines of the Africa Climate Summit, currently underway in Nairobi, Kenya, and at the invitation of Voluntary Carbon Markets Integrity Initiative (VCMI), the Africa Carbon Markets Initiative (ACMI), and the Integrity Council for Voluntary Carbon Markets (ICVCM), Mr Jinapor highlighted on Ghana’s enviable position as the first country to define a reasonable framework within which the Paris Agreement Article 6 transactions can be done.
Additionally, he lauded the country for being one of the first to receive results-based payments, which Ghana continues to provide leadership on forest and nature-based climate action.
“Preserving, restoring, and sustainably managing our forests is crucial to our global mission to mitigate the far-reaching impacts of climate change, and we will continue to work with all stakeholders towards 1.5 degrees Celsius.”Samuel A. Jinapor
Doubling as co-Chair of the Forests and Climate Leaders’ Partnership, Minister Jinapor launched the Forest and Climate Leaders’ Partnership (FCLP) working group on Strengthening Supply and Demand of High-Integrity Forest Carbon Credits.
The lands minister also held strategic meetings with the United States Special Presidential Envoy on Climate, the co-Chair of the FCLP, Secretary John Kerry, the Norwegian Special Envoy for Climate and Environment and Ambassador Hans Brattskar.
The working group, co-led jointly by Ghana, Gabon, Guyana, and the United Kingdom, will work to address High-Integrity Forest Carbon Credit Supply and Demand issues, through a robust roadmap and strategy for fortifying and expanding forest carbon credits by COP28 and COP30.
Africa Climate summit deliberates way forward
The ongoing Africa climate summit has attracted scores of African leaders, as it is the first of its kind in Africa. International leaders and observers are also in attendance, which is a joined effort of the African Union (AU) and Kenya’s President William Ruto.
Kenyan President, William Ruto, in his opening remarks, indicated that the aim of the summit is to have a stronger and more united voice on environment issues affecting 1.3 billion Africans. He revealed that despite a one-third reduction in agricultural productivity in Africa due to the effects of climate change, Africa’s natural carbon sinks were an economic goldmine.
William Ruto explained that Africa has witnessed a one-third reduction in agricultural productivity due to climate change – a stark reminder of the urgent need for adaptation. By building on the wealth of indigenous knowledge, he noted that Africa can scale, enhance, and even monetize its agricultural systems.
This, he stated, enables the continent to unlock the huge potential in its agricultural land assets, representing two-thirds of the world’s uncultivated and underutilized arable land, to feed the growing population and do so in harmony with Africa’s invaluable natural carbon sinks.
Additionally, William Ruto expressed that the restoration and expansion of Africa’s natural carbon sinks are not just an environmental imperative, but an unparalleled economic goldmine. He indicated that the continent has the potential to absorb millions of tonnes of CO2 annually which should translate into billions of dollars, improved livelihoods and millions of opportunities across the continent.
Meanwhile, the United Nation has estimated that loss and damage in Africa due to climate change are projected to be between $290 billion and $440 billion in the period from 2020 to 2030, depending on the degree of warming.
Some countries, such as Ethiopia, Kenya, Egypt and South Africa, have been expanding their renewable energy access and leading transition efforts on the continent, according to the International Renewable Energy Agency. Africa has abundant renewable energy potential, solar power is the cheapest source of energy in most African countries, and as the costs associated with renewables fall, green energy access is becoming more accessible.