On Monday, 10th October, 2022, the UK Government and the Government of Ghana held a Carbon Market Development Roundtable at the Labadi Beach Hotel.
The event brought together generators, traders, verifiers and other professionals together to review and improve the current climate finance regulations, the market, and to support the growth of new networks of experts to make the climate finance market successful in the country.
The Carbon Market Development Roundtable will: Bring the carbon market community together to understand existing and proposed market regulations; Create new opportunities for investment and collaboration; as well as grow the network of experts working on carbon market development.
Ghana has already taken important steps towards developing carbon markets as a climate finance opportunity.
The country’s Environmental Protection Agency (EPA) has drafted a new National Framework to govern and support carbon markets, while projects to generate carbon credits in Ghana are under development.
The British High Commission recognises the importance of these developments and is working to bring the right people together to help this market grow.
The Carbon Market Development Roundtable assessed and interrogated key information and policies, and generate recommendations for building Ghana’s carbon market.
The roundtable was then followed by a networking event hosted by High Commissioner Harriet Thompson and key policy officials from the British High Commission.
Speaking ahead of the workshop, British High Commissioner to Ghana, Harriet Thompson said: “The benefits of carbon markets are two-fold: they bring finance and they bring protection. Ghana’s beautiful forests and green spaces put the country in prime position to benefit from a well-functioning carbon market.”
“Our event today has brought together the right people from across industry, civil society, government and business to focus on getting Ghana access to the world’s growing carbon markets. Together we are making sure that Ghana gets the right investment now to protect the country’s vital natural resources for generations to come.”
Organisers hope the whole event will grow the understanding and support for Ghana’s own carbon market, promote discussion and adoption of the Environmental Protection Agency’s National Framework, work through the possible challenges faced by the international carbon market; and highlight Ghana’s achievements, potential and priorities in carbon market development.
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