The Ministry of Lands and Natural Resources and the Forestry Commission have signed a groundbreaking Emissions Reductions Purchase Agreement (ERPA) with Tullow.
This significant event, held in Accra on Thursday, 23rd May 2024, marks a pivotal moment in Ghana’s fight against deforestation and forest degradation.
The agreement, celebrated at a ceremony in Accra, signifies a major advancement in Ghana’s dedication to sustainable development and environmental stewardship. This partnership aims to promote sustainable land use and forest conservation while generating revenue for local communities and supporting Ghana’s climate change mitigation efforts.
Samuel A. Jinapor, Minister for Lands and Natural Resources, praised the agreement as a “bold and ambitious” initiative that showcases Ghana’s leadership in addressing the global climate change challenge. He emphasized the importance of fair carbon credit pricing, highlighting that Ghana’s partnership with Tullow sets a new standard for carbon pricing in the region.
The ERPA is a crucial component of Ghana’s comprehensive efforts to promote sustainable forest management and curb deforestation and forest degradation. The country has made significant strides in recent years with initiatives such as the Ghana Cocoa Forest REDD+ Program and the Ghana Shea Landscape Emission Reductions Project.
The partnership with Tullow is expected to generate substantial revenue for local communities and bolster Ghana’s climate change mitigation efforts. This agreement underscores the country’s commitment to sustainable development and environmental protection, setting an example for other nations to follow.
Julia Ross, Tullow’s Director for People & Sustainability, elaborated on the project’s scope, indicating that over two million hectares of land in Ghana will be used for tree planting and other carbon credit innovations.
She noted that Tullow has invested significantly in the pursuit of zero carbon emissions, with over $40 million committed to date.
Ross also highlighted the socio-economic benefits of the project and affirmed Tullow’s ongoing engagement 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 dedication to combating forest degradation and mitigating climate change. She noted that the British Government views this as the beginning of many more successes, given Ghana’s enthusiasm and commitment.
She congratulated the team at Tullow and the Forestry Commission for the height achieved and encouraged other organisations to follow this example as she said “doing this is good for the business, good for the Climate and good for the people”
Mr. John Allotey, Chief Executive Officer of the Forestry Commission, provided further details about the agreement, noting that it will span a decade and position the Forestry Commission as a major source of approved and reliable carbon credits.
He explained that the official announcement marks the culmination of intensive, dedicated, and sustained engagements between the Forestry Commission and Tullow Ghana.
Mr Allotey also emphasized the Commission’s commitment to producing high-integrity carbon credits that will be appealing to the international market.
Mr John Kwabena Abbam Aboah Sanie, Deputy Minister for Energy and Member of Parliament for Mpohor Constituency of the Western Region, commended the Forestry Commission and Tullow on behalf of the Minister for their efforts in achieving this milestone. He expressed hope that the Forestry Commission & Tullow REDD+ Project will yield outstanding results.
Additionally, traditional authorities and civil society representatives present at the program offered congratulatory statements, applauding the Forestry Commission and Tullow for their efforts in bringing this worthy cause to fruition.