Ghana cannot afford bureaucratic delays if it wants to unlock billions of dollars in green investment through the global carbon credit market, Minority Chief Whip Frank Annoh-Dompreh has warned.

Delivering a statement on the floor of Parliament on Thursday, he said Ghana has already laid important foundations for participation in the emerging carbon market but must now move quickly to simplify regulations, strengthen governance and attract credible investors.

The Nsawam-Adoagyiri MP said the establishment of the Ghana Carbon Market Office under the Environmental Protection Authority and the country’s institutional arrangements for implementing Article 6 of the Paris Agreement provide a strong starting point.

“The benefits of a properly managed carbon market are not lost on us, and we have already begun recording dozens of mitigation activities across the energy, agriculture, forestry, and transportation sectors. This demonstrates that Ghana is not starting from zero. The foundations exist.”

Annoh-Dompreh argued that carbon markets should not be viewed simply as platforms for trading emissions reductions but as powerful tools for national development.

“The carbon credit market must not be treated merely as a trading platform for emissions reductions. It must be treated as a national development instrument.”

He urged government to provide greater policy certainty by making approval processes transparent, setting clear timelines and simplifying regulations for investors.

“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.”

The Minority Chief Whip also cautioned 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.”

He stressed that Ghana should reject low-quality carbon projects that undermine confidence in global carbon markets.

“Ghana must not become a destination for low-quality carbon projects. Every project must demonstrate environmental integrity and transparent benefit-sharing.”

He said local communities must remain central to every carbon project through proper consultation, fair benefit-sharing and effective grievance mechanisms.

According to him, Ghana should deliberately expand projects in renewable energy, agriculture, forestry, methane reduction, public transport and industrial energy efficiency to generate jobs while reducing emissions.

“Our carbon financing should therefore be aligned with Ghana’s jobs agenda, food security agenda, energy transition agenda and local economic development strategy.”

Annoh-Dompreh also called for investment in local expertise instead of relying heavily on foreign consultants. He proposed the establishment of a national carbon finance academy linked to the Carbon Market Office, universities and the private sector.

He further urged government to strengthen the Ghana Carbon Registry and improve coordination among the institutions responsible for the sector.

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

He said Ghana should welcome investors who bring technology, financing and long-term partnerships while screening out weak projects with no sustainable implementation plans.

“If properly governed, it can position Ghana as a leader in Africa’s green transition. 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.”