President John Mahama has taken the first formal step toward exploring a bold new pathway for Ghana’s climate financing strategy.

This follows a letter from Minority Chief Whip Frank Annoh-Dompreh urging urgent bilateral agreements with the European Union and the United Arab Emirates to advance carbon credit trading under the Paris Agreement.

In a letter dated July 17, 2025, the Presidency, through the Secretary to the President, Dr. Callistus Mahama, directed the Minister of State in charge of Climate Change and Sustainability to review and take appropriate action on the submission.

The letter was copied to the Chief of Staff, Julius Debrah, and Mr. Annoh-Dompreh.

Read also: Minority Chief Whip Annoh-Dompreh’s proposal to Mahama over Paris Agreement and Carbon market

“I forward the attached letter dated 14th July 2025, received from Honourable Annoh-Dompreh, the Minority Chief Whip of the Parliament of Ghana, regarding the above-mentioned matter,” the letter from the Office of the President stated.

“The President has directed that this submission be forwarded to your office for review and appropriate action,” it added.

Mr Annoh-Dompreh’s proposal urges former President Mahama to seize the moment and position Ghana as a climate leader by capitalising on opportunities presented under Article 6 of the Paris Agreement, which allows countries to trade verified emission reductions toward their national climate targets.

In his original submission to the Presidency, the lawmaker argued that Ghana could unlock up to $1 billion in revenue by selling high-quality carbon credits, especially from nature-based solutions.

He described the opportunity as a “transformative pathway” to fund climate-smart agriculture, protect biodiversity, and spur rural development.

“The time is now for Ghana to assert its leadership in Africa’s carbon economy,” he wrote.

He referenced the EU’s plan to slash greenhouse gas emissions by 90% by 2040, with a provision to acquire 3% of those reductions through international carbon credit purchases starting in 2036.

Read also: Mahama petitioned to make Ghana carbon market powerhouse as Annoh-Dompreh pushes bold EU, UAE deal 

The UAE and Saudi Arabia, too, are making aggressive moves in voluntary carbon markets, with the Saudi-backed NEOM initiative targeting over 30 million tons of credits.

“Engaging through bilateral agreements will enhance Ghana’s access to premium carbon markets,” Mr. Annoh-Dompreh stated.

He emphasised that the proposed partnerships could fast-track Ghana’s Nationally Determined Contributions (NDCs) implementation while supporting flagship initiatives like the Ghana Cocoa Forest REDD+ Programme and expanding climate-smart agriculture to crops such as oil palm.

Mr. Annoh-Dompreh further urged the President not to miss the moment.

“Ghana must not only participate in the carbon economy — we must help shape it,” he declared.