Ghana risks missing out on a fast-growing global carbon investment market if government allows bureaucracy and regulatory uncertainty to slow approvals, Minority Chief Whip Frank Annoh-Dompreh has warned.

Delivering a statement on the floor of Parliament on Thursday, the Nsawam-Adoagyiri MP said the country has already laid the groundwork to become a major player in carbon markets but must now move quickly to simplify regulations, strengthen institutions and attract credible investors.

He said Ghana has made important progress by establishing the Ghana Carbon Market Office under the Environmental Protection Authority to oversee Article 6 of the Paris Agreement, voluntary carbon markets, mitigation activities, project authorisation, monitoring, reporting, verification, registry operations and corresponding adjustments.

“This is a significant national opportunity,” he said.

Mr Annoh-Dompreh noted that Ghana has already recorded dozens of mitigation activities across the energy, agriculture, forestry and transport sectors, proving that “the foundations exist.”

He argued that carbon markets should not be viewed simply as platforms for trading emissions reductions but as tools for national development capable of delivering emissions cuts, community benefits and private sector investment.

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To achieve that, he urged government to provide greater policy certainty.

“The next step is to make the rules simpler, faster, and more predictable. Approval processes must be transparent, timelines must be clear, fees must be reasonable, and the distinction between Article 6 transactions, voluntary carbon market projects, and non-authorised domestic carbon activities must be clearly communicated.”

He also warned against sacrificing Ghana’s future climate commitments for short-term financial gains.

“We must not sell cheap today what we may need tomorrow to meet our own NDC targets.”

The Minority Chief Whip further cautioned that Ghana must avoid becoming a destination for weak carbon projects that undermine confidence in the global market.

“The global carbon market has suffered credibility challenges because of weak projects, inflated claims, double counting, poor community consultation and questionable additionality. Ghana must not become a destination for low-quality carbon projects.”

He said every project must demonstrate environmental integrity while ensuring transparent benefit-sharing and meaningful engagement with communities whose land, forests and farms support carbon initiatives.

Mr Annoh-Dompreh also called for deliberate investment in renewable energy, regenerative agriculture, forest restoration, methane reduction, climate-smart irrigation, industrial energy efficiency and public transport to build a stronger pipeline of carbon projects.

He urged government to invest in local expertise instead of depending heavily on foreign consultants, proposing the establishment of a national carbon finance academy linked to the Carbon Market Office, universities and the private sector.

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He further stressed the need for a stronger and more transparent Ghana Carbon Registry and better coordination among institutions overseeing the sector.

“Carbon market decisions should not sit in files for months,” he said.

Mr Annoh-Dompreh said Ghana should welcome credible investors bringing technology, finance and long-term partnerships while rejecting projects lacking sustainable financing or implementation capacity.

He concluded that although carbon markets present enormous opportunities, poor governance could lead to confusion, speculation and unfair agreements.

“Our national position should therefore be clear. That Ghana is open for carbon market investment; but only on terms that protect environmental integrity, national interest, community rights, and long-term development.”